Diving into a Realistic Scenario: HR tactics used by ESOFT Metro Campus (Pvt) Ltd to retain employees

ESOFT Metro Campus (Pvt) Ltd, A trailblazing establishment that has thrived since its establishment in 2000. It is a leading private sector higher education network in Sri Lanka. Their extensive network, covering the entire island, encompasses 40 branches across all regions and districts. This ensures that international higher education is within reach for all students, serving as a testament to ESOFT's vision and mission (ESOFT Metro Campus, 2024).

In the 1990s, Fitz-enz (1990) noted that employee dedication and retention are influenced by a combination of factors rather than a single issue. In this context, we will explore the strategies used by the Human Resource Department (HR) of ESOFT to retain employees within their branch network.

Identified concerns

1. Cultivate an appreciative culture.

2. Employee Disengagement Issues. 

3. Areas for improvement in Workplace Environment.

HR strategies used by ESOFT HR

1.  Employee recognition programmes to launch for academic, sales staff and administrative staff.

Promotion as a method for fostering high-performing employees who exhibit a deep personal commitment to the goals and aspirations of the organization, ERPs (Employee Recognition Programs) are structured managerial endeavors intended to acknowledge employees for behaviors, accomplishments, and attitudes endorsed by the organization. Consequently, they represent a subject of genuine critical significance.

Although they differ in presentation and the way they are described (Brun and Dugas, 2008), these initiatives all revolve around the idea of individuals who are seen as needing recognition and self-esteem. This need is leveraged to cultivate devoted and diligent employees by providing mostly symbolic incentives for behaviors and accomplishments endorsed by the organization (Saunderson, 2004).

 

2.    ESOFT Regional Reach.

The main purpose of organizational identity projects and efforts has historically been to encourage employees to strongly identify with the values and ethos of their employer (Willmott, 1993). ERPs stem from the belief that publicly recognizing employees for their contributions (Silverman, 2004) will prompt them to align more closely with the organization's objectives and values, thereby increasing their dedication and efficiency. This method of rewarding employees primarily involves providing them with modest financial or symbolic incentives that recognize particular instances of performance or achievement endorsed by the organization.

 

3.  Salary Revisions.

Employee compensation encompasses all forms of remuneration provided to employees as a result of their employment (Dessler, 2008). Compensation management is a significant aspect that organizations utilize to attract and retain their most valuable assets. It is regarded as a complex process requiring accuracy and precision; mishandling it can lead to organizational issues. An effective compensation policy incentivizes employees to work diligently and with increased determination. Additionally, it enables organizations to establish job-related, realistic, and measurable standards. Compensation management aims to motivate and retain employees, ultimately enhancing the overall effectiveness of an organization. Organizations tailor their compensation structures to align with their goals, objectives, and strategies, benefiting both employees and employers. From the employer's perspective, it reduces absenteeism rates. Satisfied employees who are content with their salary and benefits are less likely to take time off from work. Furthermore, it incentivizes employees to exert greater effort, as they anticipate rewards or salary increments upon achieving predetermined goals or targets. Lastly, it fosters job satisfaction among employees (Khan et al., 2011).

Conclusion

In this analysis, I aim to propose that by viewing recognition not only as a subject of investigation but also as a crucial tool that can be utilized to uncover and highlight the inherent contradictions in managerial practices. The study has determined that compensation management directly correlates with both job satisfaction and motivation. Ultimately, through prioritizing the cultivation of an appreciative culture, addressing employee disengagement,  enhancing the workplace environment's enjoyment and initiating the HR strategies, ESOFT Metro Campus can enhance employee retention and cultivate a more productive and satisfying work atmosphere for its employees.

Also, I would like to add my Personal Reflection to this final article,

Throughout this blog journey, my personal reflection has been a continuous process, allowing me to delve deeper into my thoughts, experiences, and insights gained along the way. Below are some main points which I learnt while writing the articles,

1. Importance of Company Culture

A positive company culture plays a significant role in retaining employees. Employees are more likely to stay with a company where they feel valued, supported, and aligned with the organization's values.

2. Recognition and Rewards

Acknowledging and rewarding employees for their contributions can boost morale and increase loyalty. Recognition can come in various forms, including monetary rewards, promotions, or simply verbal praise.

3. Career Development Opportunities

Providing opportunities for professional growth and advancement is essential for employee retention. Employees are more likely to stay with a company that invests in their development and offers paths for career progression.

4. Work-Life balance.

Maintaining a healthy work-life balance is crucial for employee satisfaction and retention. Companies that prioritize flexible work arrangements, paid time off, and wellness initiatives tend to have higher employee retention rates.

5. Recognition of Individual Needs

Recognizing and accommodating the diverse needs of employees, such as flexible scheduling, remote work options, or childcare support, demonstrates a commitment to employee well-being and retention.

6. Employee engagement Initiatives

Engaging fosters through team-building activities, social events, and collaborative projects fosters a sense of belonging and camaraderie, which in turn boosts retention.

 

By implementing these key points, organizations can increase employee satisfaction, loyalty, and ultimately, retention rates, contributing to long-term success and sustainability.

References

Brun, J. P., Dugas, N. (2008) ‘An Analysis of Employee Recognition: Perspectives on Human Resources Practices’, The International Journal of Human Resource Management. 19(4): 716–30.

Dessler, G. (2008) Human Resource Management, Prentice Hall, America.

Esoft Metro Campus (2024) About us. Available from: https://esoft.lk/about-us/ [Accessed On: 7 April 2024].

Fitz-enz, J. (1990) Getting and Keeping Good Employees. In Personnel, 67, 25-29.

Hancock, P. (2022) Employee Recognition Programmes: An Immanent Critique. Available from: https://journals.sagepub.com/doi/full/10.1177/13505084221098244#bibr72-13505084221098244 [Accessed On: 7 April 2024].

Khan, R.I., Aslam, H.D and Lodhi, I. (2011). Compensation Management: A Strategic Conduit towards achieving employee retention and job satisfaction in Banking Sector of Pakistan. Available from: https://www.researchgate.net/publication/271065123_Compensation_Management_A_strategic_conduit_towards_achieving_employee_retention_and_Job_Satisfaction_in_Banking_Sector_of_Pakistan  [Accessed on 7 April 2024].

Saunderson, R. (2004) ‘Survey Findings of the Effectiveness of Employee Recognition in the Public Sector’, Public Personnel Management. 33(3): 255–75.

Silverman, M. (2004) Non-financial Recognition: The Most Effective Rewards? Brighton: Institute for Employment Studies.

Willmott, H. (1993) ‘Strength is Ignorance; Slavery is Freedom: Managing Culture in Modern Organizations’, Journal of Management Studies. 30(4): 515–52.