2. Addressing Employee Turnover Challenges Through Current and Emerging theories

Analysing Employee Turnover Through current and emerging theories:

Maslow's Hierarchy of Needs

Employee turnover is one of the critical challenge that organization has to face, which affect to diminishes productivity and leads to low morale of the employees. Through the lens of Maslow’s Hierarchy of Needs, it is possible to discover the root causes of turnover and develop mechanisms to address them. In the context of the example, the analysis is as follows:

 

Physiological needs:

 Employees may quit the job because the location of the organization is distant and difficult to access. Moreover, limited or no transportation facilities make it even more challenging for workers to satisfy their physical and safety needs.

Safety Needs:

 A second level of Maslow’s need system, safety needs are an essential criterion of employee health and well-being. Since our organization was unable to achieve sufficient production speed to offer competitive wages because of its fiscal limitations, our employment terms brought uncertainty to workers . Since the jobs were not secure in terms of financial well-being, they kept looking for other employment opportunities.

 Social Needs:                                                                            

The lack of transportation and meal provisions together with the absence of companionship and support from peers results in the feeling of being isolated and unattended. Considering that other settings take it for granted and mark certain parameters as given, the lack of these descriptive sets boosts the sensation of aloneness among workers. Given the possibility of a detrimental effect on morale, motivation, and job satisfaction, these aspects underline the need to create a congenial atmosphere and satisfy the necessity of belonging and being supported.

 

Esteem Needs:

 Employees feel company not give proper value for their selves and company not appreciate their work because the company fails to provide bonuses or recognition for their hard work and dedication. Also not giving any rewards or any other appreciation for their hard work cause decrease morale and motivation, leading employees to dissatisfaction about their selves and question their worth and seek more greater opportunities in  elsewhere.

 

Self-Actualization:

 Always employees joining for organization to become more qualified person than they were before but because employees are unable to fulfill their expected goals and challenges within the organization due to limited opportunities for growth and advancement. Because of  absence of bonuses and rewards employees demotivated and  further hinders their ability to achieve personal and professional goals, this lead to them to searching for more opportunities that offer greater potential for self-realization.

 

Strategies for Retention:

 The company can use the following tactics to address these issues and keep employees:

 The company can provide transportation and meals facilities to ensure employees basic needs are met.

By offering competitive salaries or incentives  for the employees.

Encourage employees to make a supportive workplace environment within the organization that feel the employees comfortable, teamwork and motivated.

Provide opportunities for growth and advancement to empower employees like arranging training sessions more and arrange site visits of other pharmaceutical companies to reach their full potential and achieve self-actualization.

 

Goal Setting Theory:

 In the Goal Setting Theory which defined by Locke and Latham suggests that setting specific and challenging goals can motivate employees to perform their job better (Locke & Latham, 1990). In the context of Laugfs Life Sciences, the company can set clear goals for each and every employee related to employee retention and job satisfaction. For example, they can aim to reduce turnover by a certain percentage within a specified timeframe. By communicating these goals to employees and involving them in the goal-setting process, Laugfs can instill a sense of purpose and direction among its workforce, motivating them to remain committed to the company despite the challenges they face.

 

Motivational theories:

 Motivational theories, such as Maslow's Hierarchy of Needs and Herzberg's Two-Factor Theory, can also inform strategies to address the HRM issue. Maslow's theory suggests that employees are motivated by fulfilling their needs in a hierarchical order, starting with basic needs like salary and security (Maslow, 1943). Laugfs can recognize this by exploring alternative ways to provide financial security to employees, such as offering non-monetary benefits like flexible work arrangements or transportation assistance. Herzberg's theory proposes that factors like recognition, responsibility, and advancement opportunities contribute to job satisfaction (Herzberg, Mausner, & Snyderman, 1959). Therefore, Laugfs can focus on enhancing these aspects of the work environment to motivate employees to stay despite the challenges they face regarding salary and location.

 By incorporating principles from Maslow's Hierarchy of Needs, Goal Setting Theory and motivational theories into its HRM practices, Laugfs Life Sciences can develop effective strategies to mitigate turnover and foster a more engaged and committed workforce.

References :

• Maslow, A. H. (1943). A theory of human motivation. Psychological Review, 50(4), 370–396.
• Herzberg, F., Mausner, B., & Snyderman, B. B. (1959). The motivation to work. New York, NY: John Wiley & Sons.
• Locke, E. A., & Latham, G. P. (1990). A theory of goal setting & task performance. Englewood Cliffs, NJ: Prentice Hall.
• ocke, E. A., & Latham, G. P. (2004). What should we do about motivation theory? Six recommendations for the twenty-first century. Academy of Management Review, 29(3), 388–403.