THE PROBLEM AND ITS SETTING
The employees are one of the greatest assets of a company. How they act in the workplace, and how happy they are in their roles is essential in the operation of a company. Every valuable employee should be properly motivated to stay in a company for a longer period of time. But what if employees are not satisfied with what they receive? Or if the company is not able to properly motivate their employees? Should this affect the operation of the company? These queries can be answered by conducting a study relevant to this topic. Employee retention is defined as a systematic effort by employers to create and foster an environment that encourages current employees to remain with the organization. It has become one of the major concerns for companies in the current scenario. Individuals once being trained have a tendency to move to other organizations for better prospects. Whenever a talented employee expresses his willingness to move on, it is the responsibility of the management and the human resource team to intervene immediately and find out the exact reasons leading to the decision (Manohar, 2012). Employee retention strategies go a long way in motivating the employees so that they stick to the organization for the maximum time and contribute effectively. Sincere efforts must be taken to ensure growth and learning for the employees in their current assignments and for them to enjoy their work. That is why retention strategies are important. These strategies strengthen the ability of a business to attract and retain their workforce. Once the right staff has been recruited, retention practices provide the tools necessary to support staff. Hiring an employee is only a first step, building awareness of the importance of employee retention is essential. Successful organizations realize by having an effective employee retention plan will help them sustain their leadership and growth in the marketplace. Good organizations make employee retention a core element of their talent management strategy and organizational development process. Those that fail to make employee retention a priority are at risk of losing their top talented people to the competition (Rouble, 2008). Keeping or losing the best workers can be critical to whether an organization can maintain a competitive advantage and whether operations in the organization run smoothly and efficiently. Simply stated, if the best workers are not retained, an organization can be negatively affected from the operational to the strategic level (Cardy and Lengnik-Hall, 2011). Hotels with a three-star rating feature mid-scale comfort and amenities, including reasonably sized rooms, restaurants serving breakfast, lunch and dinner, room service and modest fitness centres (ehow.com).
The essence of this study is that, business establishments realize the importance of employee retention and employees themselves must know if the retention strategies that are applied by their establishment are deemed worthy of the service/work they offer. It is in this premise, which the researchers have decided to have an attempt to determine the level of effectiveness of retention strategies among regular employees in select three-star hotels in Makati City. Theoretical Framework
This study was anchored on Frederick Herzberg’s Motivation-Hygiene Theory, which states that employees can be retained through minimizing dissatisfaction and maximizing satisfaction. In the 1950s, Frederick Herzberg studied employee retention and motivation and eventually came up with his duel dimensional job satisfaction theory; Herzberg believed that the two dimensions of job satisfaction are dissatisfiers (he called them "hygiene" issues) and satisfiers, also called motivators. Dissatisfiers include factors such as administration, company policy, working conditions, supervision, relationships and salary. Satisfiers include the job, promotion, achievement, responsibility...