Unit 33 Assignment on Research project of Small Business Enterprise

Unit 33 Assignment on Research project of Small Business Enterprise

Task 1A: Selection of Research Topic

Formulate and record possible research project outline specifications;

• Introduction: - The number or ratio of employees left the organisation and get replaced by the new employees get termed as employee turnover. Every organisation is having ratio of employee turnover. Employee turnover is of four types such as voluntary turnover, involuntary turnover, functional turnover and dysfunctional turnover. When employees voluntarily decided to resign from the company due to better job offer, conflict with other staff members or due to non-availability of growth opportunities is termed as voluntary employee turnover. When employer decided to discharge an employee forcefully due to its poor performance, conflict with staff members, etc. is termed as involuntary employee turnover. When an low-performing employee left the company then it is denoted as functional employee turnover. And when high performing employee left the company it get denoted as dysfunctional employee turnover (Luksyte & Avery, 2015). In small company the rate of employee turnover is high and behind this there are various factors that influence it in effective manner. The factors may be low income, huge work load, lack of growth opportunities, attractive external job opportunities, etc. Increase in employee turnover put adverse impact over the performance of the small company as it increases the cost of training and other costs also (Luksyte & Avery, 2015).
• Problem statement: - The problem statement is the factors that results into increase in employee turnover among small company. There are various factors that influence the employee turnover and with the increase in turnover it is denoted that employees are not satisfied with the job as well as with the company. The other factors may be lack of career development opportunities and challenges, dissatisfaction over job, conflict with other staff members or with management. These factors results into increase in employee turnover for small company (Kuo, et. al., 2010).
• Research Objectives: - The objectives are set in order to make evaluation whether the research study is executed successfully or not.The objectives of the research study a

1. Evaluate the factors that influence employee turnover in the small company?
2. Evaluate the impact of employee turnover over small company?
3. Evaluate the impact of different employee turnover over small company? (Mowday, et. al., 2012)

Select a research topic

"Factors that influence a high employee turnover for a small company"

Identify the factors that contribute to the process of research project selection

• Scope of project: - The project scope is enough wider as employee turnover become a major concern for the  business organisation . For small companies it is the major issue that they face. It increases different problems such as increase in cost, lack of quality employees and many more. Along with this there are different kind of employee turnover that also put different impact over the functioning of company (Joy & Radhakrisknan, 2012).
• Policy transparency: - Company whether it is small or large has their own policies and procedures in order to take care of their employees. Small companies having short of funds due to their market share and with the effect of it they are facing various problems. Their policies are also not stable which also create some of the issues results into employee turnover (Joy & Radhakrisknan, 2012).
• Acts & Laws: - In order to conduct the research study there is effective need of following the implied acts and laws. With the effect of it research study is process systematically and legally.
• Feedback: - This most effective method of getting information related to any issue. With the help of the feedback from small company can evaluate the measures that provide adequate set of information for decision making (Joy & Radhakrisknan, 2012).

Task 1B: Critical Review

Undertake a critical review of key references.

The number or ratio of employees left the organisation and get replaced by the new employees get termed as employee turnover. Every organisation is having ratio of employee turnover. Employee turnover is of four types such as voluntary turnover, involuntary turnover, functional turnover and dysfunctional turnover.

When employees voluntarily decided to resign from the company due to better job offer, conflict with other staff members or due to non-availability of growth opportunities is termed as voluntary employee turnover (Cui & Li, 2015).

When employer decided to discharge an employee forcefully due to its poor performance, conflict with staff members, etc. is termed as involuntary employee turnover.

When an low-performing employee left the company then it is denoted as functional employee turnover (Cui & Li, 2015).

And when high performing employee left the company it get denoted as dysfunctional employee turnover.

In small company the rate of employee turnover is high and behind this there are various factors that influence it in effective manner. The factors may be low income, huge work load, lack of growth opportunities, attractive external job opportunities, etc. Increase in employee turnover put adverse impact over the performance of the small company as it increases the cost of training and other costs also (Cui & Li, 2015).

There are different factors that influence the employee turnover in small company such as: -

• Bad match between employee's skill and job: - When low skilled employee get assigned high profile work then it is not possible to execute the work effectively and results in quitting the job.
• Substandard equipment, tools or facilities: - Lack of basic and important facilities such as adequate furniture, health and safety provisions and many more increases the employee turnover (Casolani & Del Signore, 2016).
• Lack of growth opportunity: - Employee change the organisation when they realise that there is no such growth opportunity is available.
• Lack of appreciation: - Employee want appreciation for their work and if it is lacking then they are not able to do the work and leave the job. It create dissatisfaction among them and results into increase in employee turnover (Casolani & Del Signore, 2016).
• Inadequate supervision and training: - When employee didn't get adequate supervision from their management then they getting dissatisfied as they not able to perform the work as per their strategy and they didn't get proper guidance from their supervisors that results into increase in dissatisfaction among them (Casolani & Del Signore, 2016).

Task 1C: Project Specification and Action Plan

Produce a research project specification

Research methodology:

• Research design: It is the systematic pattern of conducting the research program that helps in meeting the objectives of the research study. Proper planning is prepared and recorded under action plan which is also utilised for monitoring activities. Then research method is selected for information collection and with the use of effective evaluation technique collected data is analysed. The analysed information is further utilised for answering the set research questions and meeting the objectives of the research study (Jetnikoff, 2015).
• Research methods: Mixed approach method is preferred as it helps in getting qualitative and quantitative information for the purpose of meeting research questions and objectives. Information is gathered with the help of secondary sources as well as primary sources. In order to gather the information from secondary sources Google scholar is utilised from articles, journals, reports etc. get taken into consideration. Along with this survey is conducted with the use of questionnaire in order to get the fresh and raw information (Jetnikoff, 2015).  
• Data collection: There are different sources are available that get segregated into two parts such as primary source and secondary source. Survey program is utilised for getting raw and current information from the primary sources whereas Google scholar is utilised for getting the secondary information (Genemo, et. al., 2016).
• Data analysis: There are different techniques are available for analysing the gathered data. For this research study survey evaluation technique and Bibliometric analysis technique is utilised. Both techniques are effective enough to analyse the data as both are suitable to the type of data gathered (Genemo, et. al., 2016).
• Finding and recommendations: On the basis of the analysed and evaluated information recommendations are effectively made. Recommendations can be the outcome of the study in order to resolve the issue due to which research study is processed.
• Limitations: Every activity has its own limitations and it should be in different form. In the same manner this research study also make inclusion of different limitations such as availability of time period, limited funds, lack of useful equipments, etc. These limitations hampers the progress of the research study (Genemo, et. al., 2016).
• Ethical consideration: It make inclusion of various factors such as for data collection from primary sources it is required to took proper permission and approvals from the authorised personnel. Utilise adequate language in the questionnaire that didn't put harm over the respondents (Genemo, et. al., 2016).

Provide an appropriate plan and procedures for the agreed research specification

• Identification of problem: - Firstly there is need to identify the problem that helps in setting the adequate path for processing research study in adequate manner.
• Strategic implementation: - Secondly there is need to form the strategy in order to process the research study in systematic manner as there are various activities that can be processed simultaneously. It helps in completing the research study well on time and in adequate manner (Genemo, et. al., 2016).
• Data collection: - Thirdly, set the plans for the purpose of collecting data as there are different sources are there for data collection. So it is important to select adequate sources in order to collect data.
• Data analysis And execution: - Fourthly, there is a effective requirement of  decision making  data analysis and for this purpose there is effective need of using adequate and effective tool or technique. Adequate technique helps in making effective analysis of the gathered data that get utilised further (Khanna, et. al., 2015).
• Findings & recommendation: - Make use of the information find for the purpose of making recommendations in order to resolve the problem identified. These recommendations are effective enough to solve the problem.

In the below table action plan is shown that get followed in order to execute the research study systematically such as: -

Action Plan: -

Gantt Chart: -

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Task 2A: Implementation of the Research Project

Undertake the proposed research investigation in accordance with the agreed specification and procedures

• Primary Data: - There are various sources from where information is gathered related to the research topic. When the nature of information gathered is fresh and raw then it get denoted as primary data. This data require effective analysis and evaluation so that it renders adequate set of information for the purpose of getting adequate level of information to satisfy the set objectives of the  research project  study (Kao, et. al., 2016).
• Secondary Data: - The nature of gathered information stated that it is utilised already for resolving some issue then it is considered as secondary data. This set of information is already analysed and evaluated and available in the form of reports, journals and articles that meet some issues or motives. This set of information is also utilised for meeting the objectives of research study (Kao, et. al., 2016).

Record and collate relevant data where appropriate

Once the set of information is gathered from primary source the quantity of information is huge and with the effect of limited time period it become difficult to analyse the whole information. All the information is arranged in a systematic manner in order to make use of it for taking out the locusassignments.

Sampling method: -  As the gathered data is arranged in systematic manner as it is not possible to analyse whole information. There is effective need of taking locusassignments.so that required information is extracted from the data and utilised for meeting the objectives. Random sampling method get utilised for the purpose of taking locusassignments.out of the gathered information (Kao, et. al., 2016).

Questionnaire: - The prepared questionnaire get utilised for conducting survey for getting current information related to the research topic such as: -

Respondent's Name: -

Age: -

Gender: -

Qualification: -

Occupation: -

Match resources efficiently to the research question or hypothesis

Research Questions: -

What are the factors that influence employee turnover?

There are different factors that influence the employee turnover such as: bad match between employee's skill and job, lack of growth opportunities, ineffective tools and equipments, lack of supervision, unequal wages, external attractive opportunities and many more.

What are the different type of employee turnover?

There are four types of employee turnover such as voluntary turnover, involuntary turnover, functional turnover and dysfunctional turnover (Yeniman Yildirim, et. al., 2011).

Is employee turnover is also beneficial for small company?

When employee turnover is related to involuntary and functional turnover then it is beneficial for small company as unskilled, inappropriate and unprofessional employees goes out of the firm. This create opportunity for them to fill up the place with right employee (Yeniman Yildirim, et. al., 2011).

Measure the adverse impact of employee turnover over small company?

The adverse impact of employee turnover over small company is huge as it increases the cost for them, increase training cost, hampers their hiring process and many more (Yeniman Yildirim, et. al., 2011).

Hypothesis No. 1: - Employee turnover put adverse impact over the  processing of the small company.

Analysis: - If the processing of small company is affected with the increase in the employee turnover then they need to minimise their employee turnover. The kind of employee turnover is voluntary and dysfunctional turnover that effectively affect the processing of the small company as they lose efficient employee from their organisation (Yeniman Yildirim, et. al., 2011).

Hypothesis No. 2: - Employee turnover positively impact the processing of small company.

Analysis: - If the processing of small company is affected positively as they process their activities adequately then it is considered that their employee turnover is beneficial for them. If the employee turnover is involuntary turnover and functional turnover then it is considered beneficial for them (Yeniman Yildirim, et. al., 2011).

Task 2B: Evaluation of the Research

Use appropriate research evaluation techniques

Appropriate research evaluation techniques that get utilised for reviewing the information gathered are as follows such as: -

• Technique of survey evaluation: - This research evaluation technique focuses over evaluating the data gathered from the survey program. All the data gathered with the help of survey is fresh, raw, current and require effective analysis. By following this technique adequate set of information is extracting from the data gathered which is utilised for meeting the objectives (Ostrowski, et. al., 2014).
• Bibliometric analysis: -  There are different articles get searched and reviewed over the Google scholar in order to get the adequate set of information that get utilised further for meeting set objectives of the research study. It helps in getting quality information for research study and answer the set research questions (Ostrowski, et. al., 2014).

Interpret and analyse the results in terms of the original research specification

Analysing the data gathered with the use of the survey program such as: -

Table 1: - Inadequate salary structure impact adversely on job satisfaction.

Analysis: -  Around 96% of the responses are in the favour of the statement as inadequate structure of salary impact the job satisfaction adversely (Gialuisi & Coetzer, 2013).

Table 2: - Small business have huge work but low wages that increases employee turnover

Analysis: - The 80% of the responses are in the favour that small company having huge work to do but not having sufficient funds to pay their employees that results into increase in employee turnover (Gialuisi & Coetzer, 2013).

Table 3: - It is necessary to get appreciation from co-workers as well as from managers for the job done.

Analysis: - The 88% percentage stated that they are in the favour of the statement that employees need appreciation from their co-workers and managers for the job completed by them (Gialuisi & Coetzer, 2013).

Table 4: - Increase in competition lead to increase in work pressure that results into high employee turnover

Analysis: - 92% of the responses are agreed with the statement that with the increase in competition among companies adequately increases the work pressure over the employees that results into increase in employee turnover (Pierce & Snyder, 2015).

Table 5: -  Small businesses are not able to pay high remuneration to employees that increase employee turnover

Analysis: - Around 96% of the respondents are agreed with the statement that small business didn't have huge funds in order to increase the salaries and wages of their employees (Pierce & Snyder, 2015).

Table 6: - Small businesses having less opportunities as compare to large companies due to which their employee turnover is high

Analysis: - 88% of the responses are agreed with that the small companies having lesser opportunities as compare to the large companies because they have insufficient funds as well as small and limited market share (Johnston & Spinks, 2013).

Table 7: - Internal promotion system of small companies is also not impressive to sustain employees for long

Analysis: - 78% of the responses are agreed with the statement that small companies didn't attain effective internal promotional system due to which their employee turnover ratio keeps on increasing (Johnston & Spinks, 2013).

Table 8: - In small organisation single authority need to execute various activities that create work pressure.

Analysis: - 80% of the responses made by the respondents is in the favour of the statement as in small companies single authorised personnel need to perform multi activities in order to process the activities in effective manner as they are not sufficient to hire different personnel's for different authorised activities (Johnston & Spinks, 2013).

Table 9: - External job opportunities attract the employees that raises employee turnover ratio for small company.

Analysis: -80% of the responses are in the favour of the statement that employees of small companies get attracted towards the external available attractive opportunities that effectively increase the employee turnover for small companies (Mohr, et. al., 2012).

Table 10: - Work pressure remain very high in small company.

Analysis: -Majority of the responses are in the favour of the statement but there is effective ratio of responses that get agreed with the statement as not every small company attain high volume or high work pressure with them (Mohr, et. al., 2012).

Make recommendations and justify areas for further consideration.

Recommendations: -

In order to reduce the employee turnover in small company few recommendations are need to be followed such as: -

• Small company need to focus over hiring right people for right job. Define their roles clearly and then assign them job.
• If employee is not performing as required then fire him.
• Make fair payment to the employees in order to satisfy them.
• Management need to encourage generosity and gratitude it helps in creating positive working environment (Mohr, et. al., 2012).
• Management need to recognise and reward their employees for their work and achievements.
• Small company need to provide them effective flexibility as it helps in retaining their employees in effective manner.
• Small company need to pay attention over engagement of their employees in order to get the feedback related to their management (Berry, et. al., 2012).
• It is very necessary to prioritise the happiness of employees. As it helps in satisfying employees and effectively reduce the employee turnover.
• Small company need to build effective opportunities for the development and growth of their employees that help in retaining them in adequate manner.
• Small company need to involve their employees in their vision mission that helps in bringing loyalty towards organisation (Berry, et. al., 2012).
• Small company need to pay more to their employees
• Small company need to rebalance the work load as per the payment they made.
• Small company need to focus over encouraging friendly employee relationship.
• There is effective need of trusting employees with responsibility.
• Small company need to conduct employees reviews on regular basis
• Need to conduct exit interviews as it helps in knowing the measures of quitting organisation.
• Management need to review and assess employee concerns on regular basis (Dubey, et. al., 2016).

Further considerations: - After the completion of this research study there is a scope of conducting research is available over the impact of the different employee turnover over the small company. As different kind of employee turnover having different impact over small company as some are favourable and some are not favourable for them (Dubey, et. al., 2016).

Conclusion: - With the help of the gathered  information and knowledge  all set objectives get meet effectively as there are lot many factors are available that influence the employee turnover in small company. Employee turnover is of different type and their impacts are also different as some of them are favourable for small company and some of them are not beneficial for them. With the effect of the employee turnover the processing of small company get impacted badly as their work get hampered and processing get suffered due to unavailability of adequate resources.

Task 3: Presentation of Research Outcomes

Use an agreed format and appropriate media to present the outcomes of the research to an audience

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References

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