Effectiveness of Employee Retention Strategies †MyAssignmenthelp

Question: Discuss about the Effectiveness of Employee Retention Strategies. Answer: Introduction The case study for McDonald's business has been considered to understand the business strategies with respect to the talent. The employees are the most important assets of any business because they convert all other assets/ resources into revenue. It is important for the business to hire, retain, and manage the employees with the right skills, knowledge, capabilities and aptitude (Business Insider, 2017).Talent management is an important element of human resourcing procedures, programs and approaches used for identifying, assessing, developing and retaining the talent. The business strategy of my Donald focuses ongrowth andoperational excellence so it can be stated that McDonald's make use of the specialisation strategy. As per the given case study businessrealisesthat people are its most significant assets. The business makes use ofthisworkers and creates its strategies in such a manner that these workers focus on providinghighlevel of customersatisfaction.It focuses ondeliveryof cleanliness, quality goods, fastservicesand value to the clients (Henebery, 2017). This is the socialisation business strategy where the business lays stress on particular kind of customer strategy on the basis of fulfilling that particular segment needs. The clientswho cometo McDonald's prefer Great food,attentionof the staff members, clean restaurant and fair pricing. Will the strategic needs, the staff have to be nicewiththe clients and there has to be consistency in the food prepared. It is important that the workers ensure cleanliness in the outlet. All these strategic needs have to be fulfilled by the staff members ofMcDonald's thereforeit is important that the right kind of employees is hired for bringing such vision to actuality. The success of McDonald'sis dueto its capacity of hiring right individuals who apply the same vision for the clients. Thehigh qualityemployees provide McDonald's with a competitive advantage in the market, by application of the Business strategy discussed above. As the staff's satisfaction forms the basis of attaining competitive advantage, it is important that the strategy which is followed by the workers must be carefully considered (Corporate.mcdonalds.com, 2017). It is necessary that the people who are hired by McDonald's are highly customer oriented and they also need to be trained on the same perspective. Thisstrategy leadsto the great stuffing and since the employees are promoted from within theorganisation thereforethey get motivated to stay forlongterm with the same business (Structured Orientation for New Graduates, 2004). McDonald's not only hiresgreat people but also maintains that the talent by use ofit principalknown as "people province". It will use its workers and provide them with the needed skills, tools andequipmentswhich are needed for providing the customers with great services, high level of accuracy at work and Consistency. The business identifies and tracks the people aspects which haveimpacton the business performance (Gandhi Arora, 2015). Therefore McDonald's is capable of evaluating and continuously improving the alignment among the staffing and business strategies. Alignment of business, Human resource and staffing strategies of McDonalds As stated above, McDonald's has to pursue two business strategies which are the operational excellence and growth. For achieving this, it is important that the workers provide support to the business. These workers need to have great communication and customer servicing skills. Even though the workers which are hired by McDonald's are highly skilled, still for the alignment of business strategies, human resources and staffing, McDonald's has to provide the staff members with regular training and development. It takes appropriate measures for retaining the talent. The management processes a clear understanding and knowledge regarding the attitude,skill setthat is needed by its workers. And in order to stay ahead in these as well, McDonald's has created its own staffing strategy. In terms of human resourcing, the aim of McDonald's is to be one of the top employers in the society and forthisit provides the workers with a great workingenvironment. The workers are promoted from within the organisation thereforeencouraged to show great performance at work. These practices make the employees have a feeling of belongingness with the business and also make them feel as a part of McDonald's. By following the strategies, McDonald'sis ableto retain talented people because the potential candidates stay with the business in the long run as they hopeto getpromoted to the higher level within the organisation (Schweyer, 2013). The initial two steps used by McDonald's for gaining the competitive advantage were restructuring of the staff'sperformance development system (PDS) for all the staffs and using a talent review procedure for the staffs. This business has also set up different improved development programmes for the workers at all the levels. One of the examples of such programme is known as "leaders at McDonald's program (LAMP)". The business has also started with the leadership Institute (leadership developing programs. With the initial rolling out of policy for performance development system, in 2001 McDonald's made a decision of practising the same in three major segments. These segments were:t and change (Hatum and Preve, 2015). Disadvantage development was started in McDonald's for promoting the advancement of exit YouTube talent and creating the development opportunities for new workers. This strategy laid stress on talent and diversity management in McDonalds. The launch of "LAMP "program was done for creating innovative ideas to bring changes in the perception of participants and to apply a worldwide approach in turning to be The business which is capable of retaining top talent (Reed, 2012). The focus of the strategy had been on development of great potential talent for turning to be a future leader and making the performance to be better for business growth. The main aim of this strategy was to expand the competency and acceptance of employees to turn to be future leaders (Goldsmith and Carter, 2010). When the people are promoted from within the business then there is a decrease in the time needed for newly promoted managers and achieving faster outcomes, therefore the business stands out to be further effective for development and attainment of top talent. This also helps in improving the diversity profile at the management level. With the start of McDonald's leadership Institute and the launch of global leadership development programmes, the aim was to develop the skills among the workers so that they can be ready to get remote it up to director level (Noe, 2013). This institute and program are related with the exceptional development support, trainings, learning seminars and development sessions. Through the global leadership development programmes, the existing employees were provided with detailed overview of the leadership roles and responsibilities and they were prepared for their future roles. This way the individual contributors also got an expanded base for networking with their peer groups. The promoted workers show their gratitude towards the business by providing the clients withgreatlevel of customer service (Lewis and Sequeira, 2012). Similarly the potential workers, who wish to getpromotion, also focus on the client satisfaction, which is the key for attaining competitive advantage. This way the business strategy of McDonald's has been aligned to its staffing and human resourcing strategies. Possible talent-linked threats to the competitive advantage of McDonalds The key possible talent related threats which can harm the competitive advantage of McDonald's would behighturnover of workers and that aggravated by the time when the business find it complicated to hire people particularly in the younger age bracket (Yamamoto, 2011). Since the McDonald's tries to promote the employees from within the organisation as a part of its retention strategy, therefore it would lack the younger task force and therefore it might lackthe newtalent, harming its competitive advantage (Gberevbie, 2008). Due to the tight labour markets, the business would also be facing an issue of huge costs linked with the training of employees and if the employee retention problem continues then this cost can be amultiple times (Bais, 2012). For improving its future and retaining its brand image as a great employer, McDonald's can actually apply the different strategies for attracting the largest labour pools i.e. the students or teenage segments. The students can be hired as trainees and provided with training which can help the business to retain those are for the long run. This would help the business to getthe newtalent and fresh skills. TheGuests model of HRMcan be applied to McDonald's. This model will help the business in seeking the employs engagement in terms of achieving business goals and it will also focus on the fulfilment of needs of the staff members (Aitalieva and Panasyuk, 2016). By use of this model, McDonalds will turn more flexible. This model can be linked with the commitment of staff members and their high performance levels rather than approvals. The major focus of HR functions in this business would be able to successfully attain the predefined aims (Shabib-Ul-Hasan, 2012). This would be done by improvement in the skills and abilities of the workers. Since the employees are highly valued in this organisation therefore the employee participation would be useful for cultivating a trusted and healthy work environment. Practices of HRM at McDonald's revolve around recruiting, selecting, workers, job design, reward and recognition for the improvement and motivation of the performances of workers.It is also suggested that the business exercises flexibility at the workplace by which McDonald's would be able to keep the workers are motivated. Motivated workers would be putting in extra efforts for giving their best performances and successful accomplishment of their work targets (Fast Company, 2017). This way the business would be able to retain its goal of having competitive advantage and this flexibility will make the workers empowered to prove their proficiency. Moreover by practising the flexible working, the team building activities want to be hindered. Flexibility at workplace won't be useful for only the employees rather it would be used by the management for enhancing the productivity of the business because they would be able to provide the workers with trusted, healthy and sound work environm ent (Conlow and Watsabaugh, 2013). Since the employees would be free to choose their working schedule is therefore there would be high level of satisfaction inculcated among them which would consequently encourage them in delivering the desirable performances. By offering the flexible working practices, the craving of McDonald's to hire more experienced and skilled people at different hierarchies will be fulfilled. For example, on the Christmas eve or during festive season, when there is more footfall expected that the outlets then part-time workers can be hired so that the client demand is fulfilled easily with the maximisation of profits (Clinton Foundation, 2017). The people can get support by working withMcDonald's,if the jobs are offered with flexibility and they haveoptionto choose their timings. Thiscan be used to retain the existingpeople, and others can also join the organisation as part-timers and support their living or education. This saves a brand image will also be created for McDonald's and simultaneously it would be able to retain its existing staff, with opportunities forthemtogrow and develop. Conclusion Business strategy for McDonald's is focused on customer satisfaction and therefore it hires talented people who can help the business in maintaining the trust which the customer is having McDonald's, all over the world (Training Magazine, 2017). The strategy of competitive advantage through customer satisfaction can be achieved by keeping the staff members satisfied and retaining the skilled are talented workers, who can add value to theclientsexperiences. 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