The Impact of Salary Increments effect on employee productivity on Employee Productivity and Retention in a Globalized Economy

Question

Task: Does Salary Increments effect on employee productivity and retention rates, or are other factors equally or more important in enhancing long-term performance?

Answer

Brief Introduction

Globalization has resulted in increasing the demand for professional and skilled employees this resulting in a direct relation between Salary Increments effect on employee productivity. This has resulted in effectively turning the tables in favour of the skilled professional who has a wider verity of opportunities to search for employment. On the other hand, this has resulted in placing considerable pressure on businesses and organisations to adopt friendly Human resource management strategies so as to remain employee confidence and reduce employee turnover rates (Rao, 2004). Skilled and experienced professional retention has become an important area of focus for many organizations and businesses today resulting in many organisations revising their HRM policies to favour employee needs and expectations.

Salary Increments effect on employee productivity - Background

Globalization has seeing more companies move from one country to the other. The most recent surge of brand and business migration has been observed in Asia. This is due to the low cost of manufacturing and the abundance of skilled professionals which allows brands to manufacture and deliver their products at the lowest cost possible which makes them more competitive on the global markets.

This has resulted in a sudden increase in demand for skilled labour in all industries which has also resulted in companies offering more salaries and facilities to their staff so as to retain them (Rao, 2016). The research paper shall explore raising salaries is the sole factor which influences productivity or whether there are other elements which contribute to the business productivity and employee retention rates.

Currently it is known that salaries and pay hikes do influence performance but it has been limited to short term bursts. This report intends on exploring other factors which can be used to boost performance over long term perspectives thus ensuring organisation register the lowest turn over. Performance cannot be limited to financial increment only and the skilled professionals also need to consider other aspects such as facilities and policies which contribute to comfort and security at the workplace. This research will investigate and highlight areas and aspects which can be used to promote performance with the sole objective of increasing employee retention rates.

To secure a clear understanding regarding this we shall be analysing

Becker, B. and Gerhart, B., 1996. The impact of human resource management on organizational performance: Progress and prospects. Academy of management journal, 39(4), pp.779-801.

Brian and Barry provided an in-depth discussion on the influence of human resource management on organisational performance in a rapidly changings environment. The research paper focuses on how human resource and skilled professionals are using their skills to mould organisation policy which has a direct effect on organisation performance. As more organisations are established the demand for qualified skilled professionals is increasing thus delivering a better opportunity for skilled professionals to depend for better facilities and policies.

Delaney, J.T. and Huselid, M.A., 1996. The impact of human resource management practices on perceptions of organizational performance. Academy of Management journal, 39(4), pp.949-969.

Delaney and Huselid have used data collected from the 590 profit non-profit national organisation survey to develop design a research paper highlighting important guidelines linked to human resource management on employee performance. A collection of data from the US department of Labour and Peters and Waterman’s (1982) the duo are able to design a report touching important factors influencing performance among employees.

Both the studies will deliver a different perspective related to boosting employee performance thus allowing for a well research and constructed research paper to be developed touching on all important topics.

Research question or hypothesis, aim, and objectives

The research paper aims to answer whether raising Employee Salary Increments effect on employee productivity improves productivity and Retention rates among workers?

Companies are today hiding employee salaries as a strategy to increase their productivity and employee retention. Maybe this strategy ought to theoretically correct but there are other factors which also influence and contribute towards employee productivity and retention. The research paper shall explore the effects of Salary Increments effect on employee productivity on productivity and also propose other areas and factors which may have a direct influence on productivity and employee retention (vasantham & Swarnalatha, N. D). High employee turnover rates will result in new staff members being hired on a regular basis which translates to additional training and stability grace periods which all have an effect on the productive. This makes it important to retain employees for the longest possible period as this reduces the overhead costs and helps deliver stale productize from the staff.

Study design

The study shall be developed and designed around the large scale and corporate industries due to these industries having the biggest effect on HRM today. The corporate world has remoulded how business is performing and has developed large targets which must be achieved thus have a major influence on how HRM policies are developed and modified to favour staff so as to retain them by offering a wide verity of benefits. This has resulted in both the corporate world and skilled professional benefiting from business today where both view the business as their own and focus on sustainability and growth which will benefit all stakeholders (Hartman, 1994).

The small-scale industry does not contribute towards influencing human resource management polity’s majority due to them having a small number of staff managers thus having a lower dependence on staff. To secure clear and accurate findings related to whether raising salaries has an effect on the productivity of the workers, the research shall be focused mainly on the corporate industry which hired 50 and above employee. This makes the organization dependant on employee performance has to allow the organization to also consider delivering attractive HRM policies.

Study population and sampling

The study population would be spread across all employable age groups being from 18 years of age and stretching to 60 years. The staff being evaluated and researched will also be selected from the entire organization's workforce thus allowing different employee perspectives and needs to be understood and taken into consideration. It is important that the study evaluate all staff members as it would allow for vital data related to effects of Salary Increments effect on employee productivity increment on performance among the different staff designations as well as age groups (Chambliss & Schutt, 2012).

To secure a clear perspective related to this topic a sample of 200 people shall be interview which will deliver clarify on the perception and expectations . This would allow the research paper evaluate and secure important information related to how Salary Increments effect on employee productivity affect the staff and which staff members are most influenced by salaries. It will also identify the proportion of staff who consider other aspects such as facilities and policies which influence their decision whether they want to remain with the company or likely to change their job.

Research methods and instruments

Research studies are directly influenced by data thus making it important to collect the widest variety of data from the as many sources as possible (Anderson, 2004). The project research shall utilize both qualitative and quantities data collection techniques which would allow the researcher develop an extensive understanding related to the topic. This will also allow for clearer finding to be published thus delivering clarity related to the concern.

Qualitative Data collection

Qualitative data collection involved the collection of data from the source thus requiring for the research to visit the site personally and interview individuals as well as collect physical data. To determine the effects of raising salaries on the productivity of the workers, practical intervention shall be required. This will involve the research organizing to meeting with corporate organization human resource heads and requesting to reform one to one interviews with the staff f so as to collect this information (Guest et al., 2012). In addition to practical intervention, the researcher can also turn to reviewing the employees at business district as well as attend forums and online surveys and interviews to collect the information directly from the staff.

Quantitative Data collection

This data collection strategy involves performing research on the internet and libraries to collect information and data on the topic from published content. This is also an important part of the research as it will allow the individual secure important information from a wider perspective covering the effects of Salary Increments effect on employee productivity on performance as well as other performance influencing factors (Guest et al., 2012). Whenever utilized the data and information shall be references and acknowledgment given to unit’s publisher.

Quantitative data collection will play an important role towards broadening the number of ideas linked to topic thus allowing for the research proposal to be expanded and touch a wide verity of topic related to the subject. Data shall be collected using books, journals, newspapers, and the internet and digital publications from reputed sources. This will allow for important factors influencing Human resource management are increasing on a daily basis as the skilled professional bring our more demands they expect on a daily basis making it important for the organisation, the corporate world and government to also set their expectations and limits to prevent overexploitation or underperformance (Saldana, 2011).

Data analysis methods

Data analysis also constitutes to playing a very important part of any research project as it helps the researcher translate the collected data into readable and understandable information (Miles et al., 2013). This can be achieved using a wide verity of techniques and tools which can be used to analyse the data and mapping important trends which may be developing that cannot be otherwise observed on raw data. To analysis the data effectively it’s important to utilize a wide verity of data analysing methods and tools each focusing one specific type of data thus allowing for in-depth understanding to be developed. It is important to convert the data into visuals and tabular formats which would make it easier to understand the data thus help with delivering a better understanding linked to the topic

Some important data analysis methods that would be used to analyse data collected during the research project include: Mean, Standard Deviation, Regression, Sample Size Determination and Hypothesis Testing (Bremer et al., 2014). Each of these techniques has its benefits as well as drawbacks but we shall focus on using Chi-square technic to analyse the data as this technique will analysis the data using a combination of all the above analysis techniques thus delivering a clear understanding.

Mechanisms to assure the quality of the study

The quality of analysis results also needs to be of a high level as this determines how the data is read by the users. This means that the data results will need to be produced using sophisticated data analysing methods and tools which would help decrepit and deliver tables, graphs, and charts which can be understood by the public in general (Kakkar, 2009). To achieve this project research analysis will need to use data mining statistical tools which will be able to anal size the data and translate the information into numeric data basis which can then be further translated to visuals. This is important as many people cannot understand large data sets thus making it easier for them to correlate the effects of Salary Increments effect on employee productivity increment on performance as well as other aspects which may influence an individual’s performance.

Research Study Period

The research involved collection and translation of data collected from both qualitative and quantitative methods after which the data will be evaluated and reported (Grüneboom, 2012). Data collection and analysis will consume the majority of the project research time as qualitative data required to be collected practically from the sources.

Data collection – 3 Weeks

This data collection will be spread over a 3 week period in which the research analysis will communicate and hold interviews with co-operating industry employers, the general public, public forum and social media.

Data analysis – 2 Weeks

Once collected the data will require being analysed to determine important trends and statistics which can be used towards improving the project this will require manually sorting and organizing of the data as well as using digital data analysis tools to analyse the data and determine important trends which may not be visible to the naked eye. It’s also important to generate charts, tables and graphs from the tables and describer their data and important thus allowing for their use while preparing the research report.

Research report and Finding - 2 Weeks

With the data collected and analysed the research report and finding will then require being prepared for presentation. This will require all the data and find to be organized n a systematic manner so as to deliver the best results. The data will require t be organized and a report written discussing the different points identifying the research. The report will have to maintain its focus on discussing whether increasing salaries have an effect on performance but should also discuss other areas which may

Participants in the study

The study will involve staff working for organization and industries at all levels thus allowing the researcher to collect a wider verity of information related to each group. This will allow the research collect information on what influences performance among employer staff groups and designations thus allowing the researcher to map the study groups and report on how each one is influenced by financial increments. Securing this data would allow industries determine trains and qualities to look for in skilled professions during the interview and hiring stage which will help reduce employee turnover rates and increase employee retention and satisfaction.

the research will not only be limited to researching how finances influence performance but will also clearly outline other areas which must be discussed to ensure maximum employee performance (Ritter, 2013). In addition to the skilled professionals also human resource managers shall be reviewed and data and information collected from their perspective to determine factors or concerns they may be experiencing while managing and retaining human resource. This will deliver a wider perspective related to human resource management and increase employee retention thus allowing the businesses improve their overall performance.

Ethical considerations

While performing the research it is important to take ethical considerations as these also affect the results being achieved. This makes it important to the researcher to collect data and information using a systematic and organized manner keeping in mind ethical factors linked to participant contributions. It’s important to consider company policies, personal limitations, religion and culture amount other aspects while collecting the data (Mertens & Ginsberg, 2009). This is important as it would help the research collect information without damaging another individual’s feelings, primary or jeopardizing their job. It is important to keep in mind many organizations and people will have their limitations and may not be open to communicating during the data collection phase which makes it important to respect their choice.

Is it important to also respect corporate and company laws, Regulations and policy which may restrict sharing of information to outside sources? Ethics play an important role towards data collection and research and will have a direct effect on how the research findings are viewed. This is because people are likely to respect and accept the finding made by a researcher if no opposition factors are linked to the data collection and research. Breaching these privacy policies will only result in damaging the how the research findings are observed and accepted thus reducing the number of people using the research to improve employee performance.

Resources required for the study, including budget if applicable

To develop an effective research paper related to the effects of increasing Salary Increments effect on employee productivity of employer performance a wide verity of resources shall be utilized. Raw data shall be collected directly from the field thus helping ensure information is accurate describes the skilled professional’s expectations and views. In addition to this book publications and online resources shall be accessed to deliver important information related to the top.

This will help deliver in-depth insight on the main topic but also help identify important points and subtopic related to the falling under the same subject which can be used to widen the research (Ercegovac, 2008). Governed labour and human development department and websites will also be accessed to secure important legislature and notices which can also be used to help improve the research findings. It is important to collect a wide verity of information from as many sources which help build a research paper which covers all concerns and offers accurate finding and recommendations on ways on ways in which businesses can improve employee performance and productivity

Conclusion

The research shall not be limited to the effects of Salary Increments effect on employee productivity on performance but will also explore and discuss other important factors which influence employee performance. this will deliver a wider perspective linked to enhancing employee performance thus allows adopting strategies which do address the staff expectations and help ensure long-term preface targets as compared to financially influence performance targets.

References:

Anderson, V., 2004. Research Methods in Human Resource Management. London: CIPD Publishing.

Bremer, P.-T., Hotz, I., Pascucci, V. & Peikert, R., 2014. Topological Methods in Data Analysis and Visualization III: Theory, Algorithms, and Applications. Springer Science & Business.

Chambliss, D.F. & Schutt, R.K., 2012. Making Sense of the Social World: Methods of Investigation. SAGE.

Ercegovac, Z., 2008. Information Literacy: Search Strategies, Tools & Resources for High School Students and College Freshmen. 2nd ed. ABC-CLIO.

Grüneboom, J.F., 2012. Resource Planning in Organisational Development Projects. Books on Demand.

Guest, G., Namey, E.E. & Mitchell, M.L., 2012. Collecting Qualitative Data: A Field Manual for Applied Research. New Delhi: SAGE.

Guest, G., Namey, E.E. & Mitchell, M.L., 2012. Collecting Qualitative Data: A Field Manual for Applied Research. SAGE.

Hartman, R.J., 1994. Incentive Programs to Improve Transit Employee Performance. Washington D. C: Transportation Research Board.

Kakkar, D.G., 2009. Renaissance of HRM; Through Creativity and Quality. Laxmi Publications, Ltd.

Mertens, D.M. & Ginsberg, P.E., 2009. The Handbook of Social Research Ethics. SAGE.

Miles, M.B., Huberman, A.M. & Saldana, J., 2013. Qualitative Data Analysis: A Methods Sourcebook. 3rd ed. SAGE Publications.

Rao, T.V., 2004. Performance Management and Appraisal Systems: HR Tools for Global Competitiveness. New Delhi: SAGE Publications India.

Rao, T.V., 2016. Performance Management: Toward Organizational Excellence. New Delhi: SAGE Publications India.

Ritter, F.E., 2013. Running Behavioral Studies With Human Participants. SAGE.

Saldana, J., 2011. Fundamentals of Qualitative Research. New York: Oxford University Press.

vasantham, S.T. & Swarnalatha, D.C., N. D. Need And Importance Of Employee Retention In Organization Related To Human Resource Management. Lulu.com. Salary Increments effect on employee productivity