Seminar paper from the year 2004 in the subject Business economics
- Business Management, Corporate Governance, University of Phoenix,
41 entries in the bibliography, language: English, abstract: In
today's ultra-competitive global economy, organizations must take
every action necessary to ensure they are as competitive as
possible. Although advancements in technology, over the last few
decades, has meant that oftentimes organizations have focused their
efforts on the technological aspect of their business, those that
have neglected their human resources have struggled despite
technology. (Gutteridge, 2004) Today, employees drive productivity,
customer satisfaction, and profitability. (Harter, Schmidt, &
Hayes, 2002, in Stajkovic & Luthans, 2003) With this in mind,
businesses across a variety of industries have come to realize the
important part their employees play in their continued success.
Hiring and retaining the best employees equals greater efficiency
and efficacy. This increase in efficiency and efficacy equates to
greater company profitability, which leads to increased market
share and industry success. As such, hiring and retaining quality
employees has never been more important than in today's business
world. The question then arises, why do some companies, divisions,
or even managers seem to be able to consistently hire and retain
the cream of the crop, while others fail to do so? Do managers
truly get the staff they deserve? By analyzing the psychological
contract between employee and employer, the impact of
organizational structure and culture, group dynamics and
leadership, motivation, and performance management, this paper will
show that indeed managers do get the staff they deserve.
General
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