Methods for Business - Research Proposal Example

Research Proposal Research Questions: This study aims to study those practices that directly affect an employee of an organization. The research seeks to be tailored around three areas that are the compensation and benefits, job satisfaction and employee retention. Thus the proposed questions identified for the research are as follows: How does the effectiveness of HRM practices affect the job satisfaction and employee retention of employees? What is the Impact of benefits and compensation on job satisfaction and employee turnover? How does the basic pay of an employee affect the employee behavior? Title:  Exploring the Impact of benefits and compensation on job satisfaction and employee turnover Background to the research:  Over the years, researchers have conducted a lot of studies that revolved around job satisfaction. With such researches conducted after the 1950s, studies also mentioned certain differences in the job satisfaction. From the same time frame, a well known theory, known as the Herzberg theory evolved. According to this theory, the uni-dimensional aspect did not stand well with the concept of job dimension. More specifically, there are certain intrinsic variables that add to the job satisfaction whereas there are other variables [extrinsic ones] that add to the job dissatisfaction. This means that the satisfiers stand as personal growth and development while the hygiene factors stand as security of the personal environment which is not directly related to enhancing job satisfaction, (Herzberg et al. 1959). The study conducted by Ssesanga and Garrett, (2005) also explored the same theory and its relatedness in the perspective of a developing country. There were some points that stood opposite to the Herzberg’s theory, but it wasn’t fully negated. Of course, where job satisfaction is thoroughly studied, one must also take a look at what job satisfaction really is. According to (Warr et al. 1979) job satisfaction can be explained as satisfaction report. More specifically, job satisfaction is a satisfaction report made by an individual along with job features which are both, intrinsic, as well as extrinsic. Thus, job satisfaction is the result of a report made by the employee about his feelings and the job (Mumford 1972). While there have been some researches that aimed to find relation between job satisfaction and other variables, Ssesanga and Garrett (2005), have studied the level of job satisfaction and its factors in the higher education lecturers in the developing world. According to this research, factors like supervision, intrinsic facets of teaching and the behavior of co workers are some of the most prevalent ones affecting job satisfaction. Borjas (1979) also discusses the relationship between trade unions, wages and job satisfaction. According to the research conducted, the author concludes that mature men, who are also a part of a union, display an overall decreased level of job satisfaction. Basu (1966) also discusses incentives and job satisfaction in his paper and managed to restrict his work around research and theory work done by the psychologists around these variables in the Indian industries. According to the author, satisfaction’s basic essence revolves around feelings. Some researches also discuss the relationship between pay and the employees’ job satisfaction. Explaining the relationship, Igalens and Roussel (1999) state that there is a very strong relationship between these two factors. The study explains that if exempt as well as non exempt employees are considered, a mere rise in pay satisfaction states a positive link to job satisfaction. Putting the job satisfaction debate in perspective, Liu (1973) examines the effects that increases job satisfaction over time and states that the employees’ preference to work is usually in the lime light of the management. Therefore while discussing initiatives from the management and its effect on job satisfaction; it becomes apparent that they must work on the intrinsic benefits. Claes and Van De Ven (2008) also discuss the relationship between job satisfaction and organizational commitment. The research concludes that job satisfaction and organizational commitment are partly covering each other and are found in workers of all ages. Other than that, job satisfaction was reported to hold a negative relation with job insecurity along with organizational commitment in older workers. Hence confirming the fact that as the employee gets older, he may face certain changes that lead to job satisfaction. The problem situation: The study aims to analyze the influence of compensation on job satisfaction. Nowadays, job satisfaction plays a critical role for an organization to retain its employees and attain peace throughout the workplace. This means that it is necessary for the organization to keep a check on the outcomes and how its workers view it. In monetary terms, such a compensation should be developed that is fair and that manages to increase the employees productivity. The current study thus aims to confirm the influence of these variables on the job satisfaction of the employees. Research questions and objectives of the study To examine the previous researches available on the benefits and compensation, job satisfaction and employee turnover and give recommendations after the link between these variables have been identified. To develop hypothesis and to analyze the overall affect of benefits and compensation on job satisfaction and employee turnover. Observe the affect of the above stated independent and dependent variables on each other. Importance and contributions of this study: Productivity is directly proportional to the amount an employee is present mentally and physically at a job. When such issues are taken into consideration by an organization, a high rate of productivity is achieved. An interesting job would lure an employee to work in a durable manner while enjoying it to the fullest. On the other perspective, if the job is not interesting, the productivity is seen to take a lower note. This means, that in order to become a productive organization, the employees working in the firm need to be satisfied with their job. Thus checking the impact of compensation on job satisfaction in this study aims to confirm this very fact and also aims to support the already conducted various researches which should be taken as an addition to the literature. The Theoretical Framework H0: There is no affect of compensation on job satisfaction HA: There is an affect of compensation on job satisfaction H0: There is no affect of compensation on employee turnover HA: There is an affect of compensation on employee turnover H0: There is no affect of benefits on employee turnover HA: There is an affect of benefits on employee turnover H0: There is no affect of benefits on job satisfaction HA: There is an affect of benefits on job satisfaction Independent Variables: The types of independent variables that are relevant to the problem area have been identified from the literature. The theoretical framework has been identified after careful evaluation of the methodologies used and the gaps in the previous studies. Although there are a lot of variables that affect the job satisfaction and the employee turnover, but the number of variables identified for this research are only two. With compensation and benefits taken as the independent variable in the research, variable pay and guaranteed pay stand as their two basic dimensions. The first dimension is the guaranteed pay which is monetary in nature. This reward is the most common in nature and is apparent in the basic pay. In the current research, basic pay will be used as a measure. Other than the above stated; the second dimension is the variable pay. This is also a form of monetary reward that is dependent on the results achieved and the performance stated. Being the second common factor, the variable pay is apparent in incentives, commission, bonuses and overtime pay. In the current research, house rent, allowance, medical, conveyance, pension, compensatory allowances will be used. Dependent Variable: As for the dependent variable, job satisfaction is the result of a report made by the employee about their feelings. Also, it is the behavior apparent by the majority of employees’ related to the job. In order to measure job satisfaction, discipline will be taken as a measure which includes attendance. As for the employee turnover, the overall rate of the employees leaving an organization will be measured. Research methods: The overall nature of the research will be a combination of two researches. The combination will thus be of: Cross-sectional Research because the study to be conducted will be exploring the affect of compensation on job satisfaction at one point in time. Quantitative Research as the research would be using a numeric rating scale; the study thus holds a quantitative nature as well. Data collection techniques: In order to collect primary data necessary for the research, questionnaires and formal interview will be used. These would be standardized in nature and would thus enable effective collection of data. Data analysis techniques: The proposed data analysis technique for the research is the SPSS. The Statistical Package for the Social Sciences is a computer based application which would help the research for in-depth data access and preparation whose functions also includes the likes of analytical reporting, graphics and modeling. Addressing the ethics: While conducting the study, it would be ensured that the principle of voluntary participation, informed consent, risk of harm and the participants’ confidentiality will be taken into account. It will also be made sure that the stricter standard of anonymity is obeyed while conducting the research. Plan to complete the study: Duration Course work Dissertation Write-up Course work for pre-dissertation proposal development 4th January 18th January 15th February 7th March 30th April Proposal defense Review of literature Conceptual framework Research design/data collection Findings and conclusion ; Submission of dissertation Reference List Andresen. M & Domsch. E. M & Cascorbi. H.A, 2 August 2007, Working Unusual Hours and Its Relationship to Job Satisfaction: A Study of European Maritime Pilots, Springer Science + Business Media. Borjas.J.G, 1979, Job Satisfaction, Wages, and Unions, The Journal of Human Resources, Vol. 14, No. 1, pp. 21-40,University of Wisconsin Press C. K. Basu, Jan., 1966, Indian Journal of Industrial Relations, Vol. 1, No. 3, pp. 289-305, Shri Ram Centre for Industrial Relations and Human Resources CLAES. R and VEN. D.V.B, 2008, Determinants of older and younger workers’ job satisfaction and organizational commitment in the contrasting labour markets of Belgium and Sweden, 28, 1093–1112, Cambridge University Press Herzberg, F., Mausner, B. and Synderman, B.S. (1959). The Motivation to Work, 2nd edition. New York: John Wiley and Sons. Igalens.J and Roussel.P , Dec 1999, A Study of the Relationships between Compensation Package, Work Motivation and Job Satisfaction, Journal of Organizational Behavior, Vol. 20, No. 7, 1003-1025, John Wiley & Sons Liu.M, 1973, Putting the Job Satisfaction Debate in Perspective, Management International Review, Vol. 13, No. 4/5, 27-36, SpringerStable. Mumford, E. (1972). Job Satisfaction: A Study of Computer Specialists, London: Longman. Ssesanga.K and Garrett.M.R, 2005, July, Job Satisfaction of University Academics: Perspectives from Uganda, Higher Education, Vol. 50, No. 1,33-56. Warr, P., Cook, J., Wall, T., 1979, An investigation of job satisfaction, organizational commitment and role conflict and ambiguity in a sample of Chinese undergraduate nursing students, Journal of occupational psychology. 52, 129-148. Read More