Compensation and rewards, financial or otherwise, should be value and perceive as the fundamentals in employee retention. This is because compensation and rewards has been recognized for their unique qualities to contribute to high morale organization well-being. Dunnette, Avery and Banas (1973); Schneider, (1972) and Wanous (1976) [as cited in Rusbult (1983)], provided an indirect support by established that it is logical to expect that even in the early work stage, job rewards like high pay, autonomy and variety should be salient to employees. Compensation and rewards can become a powerful tool in influencing the employees’ performance in individual level as well as group level (Wan,
This leads to high levels of job satisfaction from implementing OCB giving them more responsibility and freedom and present constantly new opportunities for them. It is important to note that benefits of the OCB are mutual to company and its workers as well as third parties such as customers, suppliers etc. OCB works as an incentive for employees as they know that they will be not only well rewarded for their hard-work done which consequently encourages positive behaviour and turn professional success for the individual. It is a win-win situation. A meta-analysis by Borman revealed that conscientiousness was the most powerful trait
In addition, the focus of a division allows you to build a common culture and spirit that contributes to both higher morale and a better understanding of the portfolio of the division. This is much better than having your product or service dispersed among several departments across the organization. To succeed, the divisions must be well managed. Executive leadership is the most important to the success of a company using a divisional structure factor. Leaders need to understand what each division is doing and provide leadership to the division heads on how to accommodate the new strategic directions or partner more effectively with all divisions.
product design is a critical factor in organizational success because it sets the characteristics, features, and performance of the goods that consumers demand. The objective of product design is to create a product with excellent functional utility and sales appeal at an acceptable cost and within a reasonable time.” The resulting product should be competitive with or better than similar products on the market in terms of quality, appearance, service life, and price. Lastly, the main task of a product-oriented business is to continue improving quality and reducing costs as key factors to maintain and attract customers. As mentioned in an online article by Sun (2004) businesses are established to make money as quickly as possible that is why it is hard to emphasize quality over quantity. A high quality product tends to be expensive and time consuming while a low quality product tends to be quickly outsourced with a minimal time commitment.
Even if Maslow's concept of needs is clinically oriented, the business world widely accepts it, especially the human resource management section. Ethical and compassionate leadership fosters positive relationship at three levels of an organization. One, it improves the individual personal-welfare; where studies affirm that the internal conscious/chemistry that supports individuals’ well-being and life get molded and driven by others, in this case, leaders (Lester, 2013). Secondly, it promotes teamwork and collaboration. In fact, the modern evolutionally theory affirms that the notch/rate to which partnership increase the productivity rise to dominance.
Ciscly (1974) the mot high employees that are motivated serve as the high competitive advantage for any company it just because their performance is a major tool which a company can achieve its organization goal easily. Among financial, economical and human resources are more vital that can provide a company competitive edge as compared to others. According to Andrew (2004) the more commitment for all employees is based on rewards and reorganization Dee prose (1994) argued that the employee’s motivation and their work productivity can be increased through providing them an effective recognition in a organization which can ultimately result in improved
(2010) found that work attitude of employees has a positive impact on job satisfaction, which would lead to improved moral and performance in the workplace. Yukl (2010) emphasise that transformational leadership behaviours have motivational effects on employees or team members. According to Yukl (2010), effective leadership style influence team members or employees in three key ways; by influencing employees or
Viable these mentioned factors, employees should create/produce such products which will capture and retain the perception of GORC in customers mind. This perception will give a boost to overall sales and profit calculation which will portray a final Image of building a concrete customer brand loyalty relationship, which may in future increase the sales and profits to an exponential level. Thus the responsibilities practiced are key elements of creating and retaining customer strength. Company gives more benefits or packages to the employees because the company wants to stay employees and their employees can’t go to the other company. They give bonuses, low burden of work and high salary.
CRM is viewed as the overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction. The aim of CRM is to build long-term, mutually satisfying relations with customers in order to earn and retain business by delivering high quality products and services at reasonable prices over the time. In other words, instead of trying to maximize profits from each and every transaction, CRM focuses on maximizing profits over the lifetime value of the customer by creating and maintaining relationships. Benefits of
This is because employees’ satisfaction is an important factor of motivation at work and direct factors that impact job satisfaction as it has correlated relationship with the work performance achievements. Organizations can expand its business through customer loyalty organization, which meet of the value of the service received offering by the employees having good quality of life conditions provided by the organizations (Heskett, 1997). The purpose of this study is to propose the ways to raise the internal banking work environment. This is because it is recognized as the base of offering excellent services, meet customer satisfaction and loyalty. Moreover, we also will study how the working environment and the effective factors like paying attention to marketing, human resources and its impact on the performances of bank employees as well as skill needed to gain the customer satisfaction.