Business Capstone Project Organizational Performance

Question: Discuss about the Business Capstone Project for Organizational Performance. Answer: Introduction (Research topic): Over the last decade, Staff turnover has been the challenging factors for the organization. Most of the organizations have been difficulties in executing business in an effective manner due to high employee turnover rate. Aarons et al. (2012) have stated that due to high competitiveness in the global market, every organization has been pressurizing their employees to enhance the high quality production within a short span of time. Consequently, employees leave their employment due to a huge workload. By analyzing a business report, it can be assessed that an average cost of single turnover in the US is approximate $3,500 to $25,000 (Long et al. 2012). With the involvement of the high turnover issue, the organization will decrease its performance. Consequently, the organization will experience lower profit margin in the business. On the other hand, effective leadership plays an integral part of the business. Without providing staff recognition and other monetary benefits, the organiza tion will not be able to reduce the high employee turnover rate (Garner et al. 2012). In this particular assignment, a brief methodology along with the different theoretical perspective will be provided in an effective manner. The research questions will be developed for investigating the research topic in a systematic way. In the research methodology section, different tools and techniques have been employed for accumulating data. For executing the research process within the timeline, a Gantt chart will be formed. Literature Review: Karantzas et al. (2012) have discussed that stuff turnover causes serious issues on the organizational performance, and it creates huge difficulties for the business expansion in the large demographic areas. On the other hand, Mowday, Porter and Steers (2013) have discussed that the staff turnover may be responsible for delaying to meet customers demand. Staff turnover personnel moves such as layoffs, firing, and promotions. However, in some cases, the staff turnover is limited due to unions involvement in the business. Park and Shaw (2013) have discussed the fact that every manager, supervisors, and business owners are required to understand the complexities of the staff turnover before making any managerial decision. It has been seen that an erroneous firing or promotion can cause decreased production level in the business. Consequently, it damages the effectiveness of the organizational performance. On the contrary, Jensen, Patel and Messersmith (2013) have argued that layoffs and firing are employed in the organization to diminish the wages and benefits payments. Staff turnover can be categorized into two sections including internal and external turnover. Internal staff turnover indicates the strategy of promoting current employees and bringing an entry-level employee for that particular post. On the other hand, the external staff turnover indicates that employees leave the organization for seeking new jobs. Aside this, staff turnover is executed in the organization based on either positive influence or negative influence. Aarons et al. (2012) have discussed that positive turnover suggests the new job opportunity due to the business expansion in the competitive market. On the contrary, the negative turnover indicates the contraction of the organizations finances due to the recession. Hence, it can be assessed that the positive turnover is beneficial for employees and the business itself, whereas the negative turnover indicates the critical situation for the existing employees of the business. There are several factors for employee turnover su ch as Employee expectations, Job person match, and Job person match, Individual employee, Staff recognition, and Job ownership, and Lack of supervision. Long et al. (2012) have agreed with the fact that the management often avoids considering employees feedback. Consequently, employees expectations are not met in the organization. On the other hand, the personality and skills of the employees need to match with the job profile so that they can deliver high quality production in the business. Garner et al. (2012) have discussed that huge demand for labor may cause the staff turnover in the business. Consequently, the management needs to provide adequate monetary benefits to the employees to stick with the organization. On the contrary, Karantzas et al. (2012) have highlighted the fact that the lack of employee recognition in the organization is responsible for increasing the turnover rate in the business. Sometimes, the small and medium organizations are unable to provide high-class training and development session to the employees. Consequently, lack of professional skills does not allow them to deliver enhanced quality work in the business. In the recent years, most of the organizations have been implementing new and innovative strategies in the business to reduce the employee turnover issue. The organization provides provision for free health care to the employees. Mowday, Porter and Steers (2013) have discussed that the work-life balance is one of the major factors that create challenges for an employee to deliver quality performance at the workplace. Hence, it can be assessed that the management needs to provide the flexible work life to the employees for reducing the staff turnover issue from the business. According to Park and Shaw (2013), any business can improve its capability to enhance the production by implementing the below provided five-step in managing staff turnover: P Provide positive work environment R Reward, recognition and reinforce the right approach I Involvement and engage D Development of skills and potentiality E Evaluate and measure It can be assessed that the staff turnover not only impedes the organizational performance but also create difficulties for achieving the goals and objective of the business. The particular chapter highlights the impact of employee turnover based on different perspectives of the authors. The probable solutions of staff turnover issues have been discussed through various theoretical approaches. Research Questions: The research questions are developed based on the research objectives. The research question facilitates in executing the research in an appropriate manner. On the other hand, the research questions help to identify the rationale of the topic. The research questions are provided below: What are the feasible factors of staff turnover in the organizations? How does the employee turnover affect the organizational performance? How does an organization reduce the staff turnover issues from the business within a short timeframe? How can the employees improve their individual performance within the business? Research methodologies and techniques: In the research methodology section, different techniques and tools have been utilized to investigate the research topic in an effective manner. in this particular research, both the primary and secondary data will be utilized. The primary data will consist of several statistical data, whereas the secondary data will facilitate in enhancing the knowledge and information on the topic generally, the secondary data will be utilized to increase the information of employee turnover in the literature review section (Panneerselvam 2014). The research design consists of three individual parts including explanatory, exploratory and descriptive design. With the involvement of the exploratory research design, different figures on the research topic can be evaluated (Taylor, Bogdan and DeVault 2015). Moreover, the exploratory research design identifies the nature of the research topic. On the other hand, the explanatory research design facilitates in explaining the existing data in an effective manner. The Descriptive research design is the most authenticate research design in the methodology, as it contributes an in-depth analysis of the topic (Neuman and Robson 2012). In this particular assignment, descriptive research design has been selected for evaluating the impacts of employee turnover on the organizational performance. With the involvement of the descriptive research design, the rationale and significance of the employee turnover can be evaluated in an effective manner. Figure 1: Research design (Source: Robson and McCartan 2016) The research approach can be divided into two parts including inductive and deductive approach. In this particular assignment, the deductive approach has been selected for investigating the research topic in an effective manner (Taylor, Bogdan and DeVault 2015). In deductive approach, a particular path needs to be followed that consists of four individual processes including theory, hypothesis, observation, and confirmation or the rejection (Pickard 2012). The deductive approach will facilitate in executing in identifying the impacts of the employee turnover on the organizational performance. Figure 2: Research approach (Source: Panneerselvam 2014) Gantt chart: The calculation is referred to the MS Excel Figure 3: Gantt chart (Source: Created by author) Research process: The research can be executed by following a particular process. At the initial stage of the process, the research area is identified for investigating. in the 2nd stage of the research process, aims, and objectives of the research are developed in an appropriate manner so that the research can highlight the rationale of the topic. Aside these, the research questions on the topic are formulated based on the research objectives. In the third stage of the research, a brief literature review on the employee turnover will be discussed. The literature review will consist of in-depth analysis on the research topic based on the different theoretical perspectives. The data gathering process will be executed in the 4th step of the research process. With the involvement of the data accumulation process, a huge amount of reliable data can be gathered. The particular research process will be concluded with the analysis of the collected data on the research topic. In the data analysis section, dif ferent statistical tools will be utilized for obtaining proper outcome of the research. Figure 4: Research process (Source: Miller et al. 2012) Data collection and data analysis: The data collection technique includes two processes such as primary and secondary data. A huge amount of reliable and valid data can be accumulated through primary method. On the other hand, the secondary data are collected from the books, journals, websites and other online sources. However, the secondary data reduces the data validation because most of the time the available data on the online platform are not updated from a long time (Robson and McCartan 2016). In this context, both primary and secondary data collection techniques will be utilized. The primary data facilitates in collecting the updated information on the staff turnover issues in the organization. Moreover, the primary data will indicate the current market statistics. On the other hand, the secondary data will be accumulated only for enhancing the information in the literature review section (Taylor, Bogdan and DeVault 2015). Employee turnover is a critical issue that creates challenges for the organization over t he past decade. Hence, the different theoretical approaches can be utilized for the secondary data. Figure 5: Data collection technique (Source: Pickard 2012) Data analysis includes two prime processes such as qualitative and quantitative techniques. In this particular assignment, both qualitative and quantitative process will be followed for gathering huge information on the research topic (Miller et al. 2012). In the quantitative technique, some of the potential employees of an organization will be selected for participating in the survey method. On the other hand, the available key professionals will be approached to take participate in the interview session. Quantitative analysis will highlight the issues of the employees in the organization, whereas the qualitative analysis will execute the in-depth analysis of the consequence of employee turnover on the organizational performance (Neuman and Robson 2012). By discussing the sampling technique, it can be assessed that the non-probability sampling technique would be the best possible solution for selecting the participants or respondents. In this context, the probability sampling technique will be avoided due to obtaining unbiased responses from the respondents and interviewees (Miller et al. 2012). For the purpose of data accumulation, the 100 employees of an organization will be selected along with 5 key professionals. In the particular research process, the small sample size will be taken for reducing the cost of the research project. The survey process will be conducted on the online platforms including Facebook, Skype, etc. On the other hand, the interview process will be conducted face to face. The interviewee will obtain 25-30 minutes for the discussion on the topic. In the survey questionnaires, the selected employees will be asked to highlight their issues at the workplace. The key professionals will be asked for highlighting th e impact of the high turnover rate on the business (Panneerselvam 2014). Figure 6: Data analysis (Source: Miller et al. 2012) Research outcomes: The research outcomes facilitate in evaluating the impacts of staff turnover on the business performance. Research outcome suggests a wide range of information and data on the employee turnover. In this assignment, the research outcomes deliver an in-depth discussion on the business risks due to the high employee turnover rate. On the other hand, the accumulated data will highlight the current business issues due to the employee or staff turnover. References: Aarons, G.A., Fettes, D.L., Sommerfeld, D.H. and Palinkas, L.A., 2012. Mixed methods for implementation research application to evidence-based practice implementation and staff turnover in community-based organizations providing child welfare services.Child maltreatment,17(1), pp.67-79. Garner, B.R., Hunter, B.D., Modisette, K.C., Ihnes, P.C. and Godley, S.H., 2012. Treatment staff turnover in organizations implementing evidence-based practices: Turnover rates and their association with client outcomes.Journal of substance abuse treatment,42(2), pp.134-142. Jensen, J.M., Patel, P.C. and Messersmith, J.G., 2013. High-performance work systems and job control consequences for anxiety, role overload, and turnover intentions.Journal of Management,39(6), pp.1699-1724. Karantzas, G.C., Mellor, D., McCabe, M.P., Davison, T.E., Beaton, P. and Mrkic, D., 2012. Intentions to quit work among care staff working in the aged care sector.The Gerontologist,52(4), pp.506-516. Long, C.S., Perumal, P. and Ajagbe, A.M., 2012. The impact of human resource management practices on employees turnover intention: A conceptual model.Interdisciplinary Journal of Contemporary Research in Business,4(2), pp.629-641. Long, C.S., Thean, L.Y., Ismail, W.K.W. and Jusoh, A., 2012. Leadership styles and employees turnover intention: Exploratory study of academic staff in a Malaysian College.World Applied Sciences Journal,19(4), pp.575-581. Miller, T., Birch, M., Mauthner, M. and Jessop, J. eds., 2012.Ethics in qualitative research. Sage. Mowday, R.T., Porter, L.W. and Steers, R.M., 2013.Employeeorganization linkages: The psychology of commitment, absenteeism, and turnover. Academic press. Neuman, W.L. and Robson, K., 2012. Basics of social research: Qualitative and quantitative approaches. Panneerselvam, R., 2014.Research methodology. PHI Learning Pvt. Ltd.. Park, T.Y. and Shaw, J.D., 2013. Turnover rates and organizational performance: A meta-analysis.Journal of Applied Psychology,98(2), p.268. Pickard, A., 2012.Research methods in information. Facet publishing Robson, C. and McCartan, K., 2016.Real world research. Wiley. Taylor, S.J., Bogdan, R. and DeVault, M., 2015.Introduction to qualitative research methods: A guidebook and resource. John Wiley Sons.