Introduction

One of the most imperative issues in many organizations is the ability to retain their top talents and to have a competitive advantage over the others. Studies have shown that the ability of a company to retain its employees is the most valuable and the most challenging idea especially when it comes tothe start-up organizations (Hwang et al., 2014, 60). In most cases, the top talents for the new organizations are poached by the other organizations that are superior. The new employees are rarely aware of the operations of the organization. Besides, the newly recruited members of an organization require resources and time to train before they can master the activities of the organization. The main aim of this study is to investigate ideas surrounding employee retention such as strategies that large organizations use to retain their top talents for a long time as well as the effect of hiring employees for a longer time.

 

1.1 Problem Description

In many organizations, retaining employees have been the most challenging part of their operations. The main problem of such organizations is that they are unable to use their best talents to more productive organizations (Knox, and Nickson, 2006, 50). The research area of this study is the new luxury manufacturing companies within Great Britain, London. When organizations lose their employees through turnover or to the other organizations, they cannot compete effectively as it is much harder to compete with the other without the top talents and consistency (Chand, and Katou, 2007, 576).

1.2 Industrial background

Research has shown that continuous staff turnover can be a significant downfall tobusinesses. It creates a massive void, and it can affect the morale of the company. Apart from this, it is quite expensive to replace the employees from the recruitment and finding e the right staff. Companies that can retain the employees for long and reduce the expenses of recruitment and training are likely to maintain consistency(Sourvinou, and Filimonau, 2018, 649). Also, the industrial research in the UK shows that the startup companies are three times more likely to lose their employees than the more established firms (Kang et al., 2016, 345). Retaining employees results in better performance of the company because they are always motivated (Hanks et al., 2018, 1).

1.3 Research proposal

The main aim of this proposal is to explore strategies and methods that the human resource department can employ to retain their employees especially companies in the manufacturing sector of the luxury products within Great Britain. It will also analyze how employee retention can help startup companies have a competitive advantage.

Research questions

The following research question will act as guidelines for this research proposal.

How can the human resource department employee the most effective strategies and policies so that they can improve employee retention, thereby increasing their competitive advantage in the luxury manufacturing industry within Great Britain?

Purpose statement

This study focus on investigating the most effective means of human resource policies and strategies that are used by companies in the luxury manufacturing industries in Great Britain. The research seeks to explore the extent to which employee retention can contribute to a company’s success and give them a competitive advantage especially the startup companies by developing a human resource management framework.

 

Objectives of the research

The following objectives of this research

• To explore the status of human resource management plans, policies, and practices that are best suited for the  manufacturing sector of Great Britain
• To show the best policies and towards employee retention in startup companies
• To identify the contributing factors to practices that can create competitive advantage
• To identify the extent to which human resource management policies are applied in startup companies and assess how effective human resource development policies and practices are towards employee retention by developing and engaging loyal workers
• To develop different roles of human resource department and examine how effective these practices are towards retaining employees and delivering are common to startup companies in the manufacturing sector within the whole of Great Britain

 

Literature review

This chapter will focus on a review of literature that is available on the theoretical foundations that are within the study and the basis of having employee retention in a competitive environment.

Theoretical foundations

Several models have been used to explain how important employee retention is to every organization. One of the most commonly used models is the turnover model theory that was proposed to 1958 about the organizational equilibrium (Giousmpasoglou, and Hoang, 2017, 25). In this theory, the author proposed the turnover is one of the major concerns in the start-up organizations. The key to a successful organization is the ability to retain the best performing workers (Kele, Mohsin, and Lengler, 2017, 44). In this manner, it is said that many employees are always on the lookout for better deals especially when it comes to employment bonuses (Sharples, and Marcon-Clarke, 2019, 132). From the perspective of retention, the model suggests that employees can also stay in an organization if they are well satisfied with their jobs and they believe that there is no relative available out there that is better than the one they currently have (Sekaran, and Bougie, 2016, 66). Consequently, the lack of alternatives as well as satisfaction in the current job are the two most important factors on the decisions that are employed can make to stay where they are (Majid et al.,  2017, 667). An employee is also satisfied if they feel that the outcomes they are receiving are rewarding the efforts that they have put in an organization (Gilani, and Cunningham, 2017, 239). They calculate every idea of an employee that they investor put in an organization, and they always compare the benefits with the ones they get from the outside (Eissner, and Gannon, 2018, 296). When they feel that their efforts are not rewarded accordingly, they are likely to panic and look for better alternatives. However, when they find that their efforts are rewarded accordingly, they are likely to stay. In their recent research works, organizational justice has been proposed to include fairness perceptions related to different outcomes and procedures including interpersonal interactions (Ashton, 2018, 175). A better relationship between the employers and the employees can determine whether they stay in the company for a long time (Ahmad, Sulaman Tariqb, and Hussain, 2015, 186). When employees feel comfortable, they look forward to working in that organization as they feel supported and important (Stokes, and Wood, 2016, 55).

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The British luxury industry

In the British economy, the luxury industry makes more contribution to the economy more than the films, entertainment, music and television industries combined (de‐Miguel‐Molina et al., 2018, 100). The luxury industry also accounts for the totalexports of more than 10 percent coming out of the United Kingdom market (Mohsin et al., 2016, 4). This means that the luxury industry in Britain contributes much to the economy even more than the other famous industries such as sports (Akgunduz, and Bardakoglu, 2017, 1510). The luxury industry has also been growing at a rate that is even faster than 10% each year. The growth has been so fast that it has overtaken tourism industry. By nature, Britain is a natural herb for the luxury industry because of a customer base that is quite focused and established with a grateful of talents that are creative coupled with the British heritage and brands (Zhang, 2017, 77). The fashion in London is among the four major fashions that are known around the globe (Sung et al., 2017, 910). Apart from this, other fashions are diversified because of the wealthy customers who visit the country. As a successful industry that depends massively on employees, the industry is one that can focus on better performances. Consequently, it is important that these industries maintain their current employees for the longest time possible so that they do not lose them to other competitors (Tuna, et al., 2016, 366). Sectors that embody longevity are likely to sustain pressure from the competitors and will outdo them in many cases (Huang et al.  2018, 1). The same case applies to the luxury industry. Accordingly, the British luxury manufacturing industry has been a success in many ways because of the employees. In case the manufacturing industry loses their employees, they are likely to share the secrets with the new employees despite several laws that protect the secrets of a company (Ivanaj et al., 2018, 864).  Because of the lucrative nature of the industry, many manufacturing companies are always competing against each other and looking for ways that they can outdo the others (Kumar, and Kumar, 2018, 49).  This means that employees become a crucial component when it comes to outdoing the competitors.

Employee retention strategies

Several strategies can be used to retain the employees in the new organizations especially the startups in the leisure industry. In Britain, the most commonly used methods when it comes to retaining employees, especially for the startups are reward systems, training and development and the better relationship among others (Kelly, and Ma, 2016, 77).  These strategies have proven to be successful for a long time, and managers have to provide factors that reduce dissatisfaction among workers (Geczy et al., 2016, 555). This can be done in several ways such as improving the working conditions and reducing misunderstandings among the employees. Employee retention strategies include recognition and reward that have been identified by several researchers as the most significant spear to innovation from the employees (Connolly et al., 2018, 1). Reward and recognition increase diversity for the workforce and therefore the need for several approaches in the reward system can help startup companies especially those that are within the United Kingdom to even improve and retain their employees (Gupta, and Haque, 2015, 22). However, it is impossible to recognize all the effort put by luxury companies (Kim et al., 2018, 2981). As for the startup companies, there are several ideas but they can stand back on that was a focus on reward and recognition. This may include giving prices and recognizing people through certificates. When such happens, the employees are likely to remain in the same organization for a long time. Training and development is the other way of focusing on the employees to ensure that they grow to their full potential (Costa, 2018, 6). The development also embraces several factors of retention which is survival for modern companies.

 

 

RESEARCH METHODOLOGY

Research philosophy Critical Realism

The research methods used in this study is qualitative analysis where the participants have to answer questions that have been posted by the researcher. A survey questionnaire methodology will be used to collect the data from the participants. The data are given will there be analyzed manually after their survey questionnaires have been collected back from the participants. Also, there will be two types of questions within the questionnaire. The close and questions will give the participants options to choose the best answers that they feel is right about the employee turnover and retaining employees within luxury industries. The questions will be related to the luxury industry where the employees and employers will have the opportunity to answer the questions. The other type of questions is open and where the employees are will be given an opportunity to raise their concerns and freely answer the questions. This is the research philosophy that will be used to collect data and to analyze the data (Eklund et al., 2018, 34). Philosophy in research is not supposed to be what is believed but based on facts that are true and encompasses various phenomenon behind the research. This philosophy will also apply when the researcher is making conclusions (Morales et al., 2017, 44). The realism in this research will be based on the ideas of the dependence of the participants for them to answer the set questions. This philosophy assumes any scientific approach that can develop the knowledge (Pasaribu et al., 2017, 2590). Realism philosophy comes in two parts, direct and critical realism. This research will employ this philosophy throughout. These ideas require some time to master, and they require perfection to meet organizational requirements and demands (Dube, and Maroun, 2017, 23). Retaining top employees is, therefore, one of the major concerns of the HR. Department (Li, Duverger, and Yu, 2018, 23). It has been shown that small businesses usually suffer from various expectations of the employees and therefore cannot access fully retain the best talent (Dabbs, 2018, 1). Employees also want to grow new salaries that sometimes their small organizations cannot provide (Deery, and Jago, 2015, 453). This makes retaining employees an important and crucial element that requires skills and better management from there organizational leaders (Cloutier et al., 2015, 55). If an organization can retain its employees, it encourages better talents into the organization as they gain trust from there people who have served long time (Aguenza, and Som, 2018, 55). Staying in one organization for long also maintains efficiency and effectiveness from the employees as they are well aware of the operations (Holtom, and Darabi, 2018, 95).

 

Research methods

This part of the research will analyze the approaches that will be used in conducting research. The chapter will look at research design, methods that are used to collect and to analyze the data. Survey questionnaires will be used to collect data from the employees and the employers. The research will use qualitative data and both open and closed-end questions in the questionnaire. Using the two types of questions will allow the researcher to get the most honest opinions of the employees. Also, the researcher will get the opinions of the most legitimate organizations.The research methods should identify the operations of the organization as effective and competitive. Retaining employees becomes a concerning problem to these organizations and therefore finding ways and means for strategically retaining the best talents is an important idea to the success of such organizations.

Research design

Research design gives an in-depth analysis emphasizing on the full analysis of the methods and how the researcher plans to achieve the objectives. In this proposal, such a will be using case studies and survey questionnaires in organizations within the united kingdom, especially in the start-up companies. The researcher will use a sample of 30 members of different organizations dealing with luxurious producers we live in the United Kingdom. Before starting to conduct the survey, the organizations have to meet their criteria set for participation. The criteria include being a startup company and one that has had experiences with employee management (Aruna, and Anitha, 2015, 94). The set conditions in the research will allow the researcher only to use subjects that are relevant to the study. It also gives the investigative part of the research and the real-life events mainly those that concern employee retention.

Data collection procedures

Because this study will be using interview questionnaire and survey methods to collect data, the data collection procedures will be from the main subjects who have been experiencing the effects of better strategies to retain employees and the impact that these policies have had on the success of these organizations. Similarly, data collection will be from the primary sources as the interview will act as a guideline for collecting the primary data. The interview is likely to get reasons why the employees need time to master the requirements in the organization (Anitha, 2016, .9). Retaining top employees, therefore, one of the major concerns of human resource department (Kossivi, Xu, and Kalgora, 2016, 261). It is this reason why human resource department becomes crucial as they have to makes sure that people relate better with their employers (Lee et al., 2018, 1). The relationship between the employer and the employee is a major factor in determining whether the employees remain at the workplace or they look for better opportunities (Basu, 2017, 55). It has been shown that small businesses usually safe from my expectations of the employees and therefore cannot access fully retain the best talent. Employees also want to grow new salaries that sometimes their small organizations cannot provide (Haider et al., 2015, 63; Tanwar, and Prasad, 2016, 186S). This makes retaining employees an important and crucial element that requires skills and better management from the organizational leaders (Anitha, 2016, 44; Kundu, and Gahlawat, 2016, 25). If an organization can retain its employees, it encourages better talents into the organization as they gain trust from there people who have served a long time. The interview will be designed to links the effects of the retention, and the success of the organization. It will also incorporate methods given in the past by the senior organizations and the new organizations within the luxury industry in the UK.

Time plan GANTT CHART,

This research is supposed to take place for two and a half months starting on 15th April to 30th July. This is enough time to allow the researcher to conduct all the interviews and do all the qualitative analysis to make their statements. Because the interview will provide qualitative data, the researcher will only make general statements on consistency and categories that are related to the themes. The chart below shows there Gantt chart that has been used to plan the timeline. The plan in this research is to start by submitting the proposal followed by a literature search for the literature review. The researcher will then type the work and proofread. Then be followed by printing the work if everything is clear and then binding and submitting will be the last procedure to be done. The table below shows Gantt chat that can be used to simulate the future process (Gupta et al., 2016).

 

(Gupta, et al., 2016)

 

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