Employee Retention and Job Satisfaction

Paper Summary:

This paper looks at the problem of employee retention in today's market and discusses the creation of a job satisfaction survey as the starting point in creating an effective employee retention program. It analyzes how employee retention is a difficult problem for many U.S. businesses and how pay-based incentives alone are no longer enough to hold quality employees. It evaluates how non-pay incentives are becoming more and more important in creating effective employee retention programs and how the array of such non-pay incentives, however, is large and an effective retention program should be tailored to company's specific employees.

From the Paper:

"McQuarrie argues that market research is relevant to business strategic planning because it results in focused, company specific information. (1996). Rossi et. al. provide a detailed and complete guide to the effective use of surveys in market research. (1983). This work covers not only the use of closed versus open ended questions for obtaining desired information, but also explains various methods in analysis. Finally, Edmunds (1996) and Edwards, et al. (1997) give a step-by-step guides to choosing the proper research method, appropriate use of various question forms in surveys and choosing the appropriate degree of analysis to fit within relevant time and budget constraints."

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