Band 8 essay sample | How can companies retain their workforce?
In this age of globalisation how can companies keep their employees motivated and satisfied. State your view with examples.
Band 8 essay sample
In today’s global landscape, where employees are faced with local as well as international opportunities, companies are investing more than ever in controlling their attrition rates. It has become extremely crucial for the human resource department to retain workforce and keep them continuously engaged and happy.
One of the challenges in doing so is to keep employees constantly motivated. Motivated employees are more efficient and productive; they take ownership of work and generally outperform resulting in a sense of satisfaction. Many people argue that if employees are compensated well, they will always be motivated whereas, others think that it is not just about money. To exemplify, Daniel Pink, who is a renowned psychologist, has done various studies and researches on this matter and found that it is when people are given a sense of purpose at work, that they feel motivated to accomplish their tasks. Through his studies, he discovered that even though money is imperative for stability, it doesn’t keep employees motivated for too long. Hence, companies should constantly try to challenge their employees with good work, give them ownership and responsibility and ensure that they understand the overall goals of the organisation and their role in helping achieve them.
There is also the social factor which plays an important role in engaging employees. After all, humans are social animals. Companies should organise weekly fun activities or occasional team building trips. For instance, many companies have introduced the concept of fun Fridays where people can socialise, watch a movie together, have drinks and make a conversation with people outside of their work teams. Companies also benefit from such activities as it encourages team bonding. In addition, it has also been observed that companies which invest in coaching and training their employees are likely to have a much satisfied workforce.
To conclude, retaining workforce requires a multipronged approach. In my opinion, companies should focus on creating a friendly workplace and giving their employees a sense of purpose. Organizations that are invested in their people’s growth will have no difficulty retaining them.