Research proposal for Wal-Mart employee retention
Wal-Mart is the highest revenue generating organisation in the world (Forbes, 2014). According to WalMart’s annual report (2014), the company owns 6,100 stores in 27 countries. It employees 2.2 million people around the globe.
Wal-Mart is the third largest employer in the world with US Department of Defence and Chines Army being first and second biggest respectively (Alexander, 2012). Wal-Mart employees 2.2 million people globally
(Wal-Mart, 2014). Despite its size and global presence the company has not been able to create its image as a good employer. Hence the employee retention rate is very low. The purpose of this report is to propose a research to find out the reasons behind the poor employee retention rate.
PROBLEM …show more content…
Hence a reward to achieve corporate goals cannot keep employees interested in work.
Content theory of motivation given by Maslow states that employees can only be motivated if their unsatisfied needs are fulfilled. Hertzberg, Mausner and syndeman (1957) also disagree with Taylorism and
Armstrong’s approach. They believe that salary, bonuses, benefits and performance related pay are only extrinsic motivators which do not leave a long-lasting impact on employees. Instead of these monetary benefits people are driven by intrinsic motivators that include responsibility, freedom in decision-making and importance of the role. According to these academics, only intrinsic motivators leave a long-term impact on employees and can help to retain them.
Adrian Furnham (2008), Professor of Psychology at University College London, has a view similar to
Hertzberg’s and Content Theory. During an interview to Chartered Institute of Personnel and Development,
Professor Farnham states that people would work for less money in a job with higher status. His approach also supports Hertzberg’s theory that intrinsic motivators play greater role in retaining and motivating employees. However it is second to impossible for companies to satisfy intrinsic motivational needs of all employees.
Even today Fredrick Taylor’s approach needs to be followed in some job roles for example in Law enforcement. However an alignment between what the employees are required to do