Unilever is the one of the world fastest FMCG, company in the world and it have largest workforce in the world. In present research study resource strategies are discussed in detail. Retention paradox is discussed in detail in the present research study. An ethical and professional method that form must follow to exit employees from the company is also explained in the report. In end conclusion section is prepared
Resource strategy and its effectiveness
Resourcing strategy refers to the strategy under which organization obtain and retain employees at the workplace. It is very important to develop an effective resourcing strategy in the business so that best talent can be recruited into the company and retained at the workplace. Some of the commonly used resource strategies are explained below.
• Reallocate tasks: Many firms like Unilever have large workforce and sometimes some of employees resigned. Areas in which companies operate if are highly technical line, then anyone can not be just picked up for the vacant position and in that case reallocate strategy is used. In this strategic task of individuals are shuffled and by doing tasks related to vacant position are getting done regularly efficient manner (Conway and et.al., 2016).
• Reallocate employees: IT companies carry out multiple projects and sometimes according to new requirements employees are relocated to other locations so that project carried out there can be implemented effectively. Negative side of this strategy if it is used excessively then in that case employees often feel frustrated.
• Recruitment of new staff: Unilever according to requirements identifies multiple sources from where talented employees can be obtained. Under this, HR is hired from college, through placement agencies, contract employees working at another company (El-Kassar and Singh, 2019). Using this strategy, according to cost constraints and requirements firm select best employees for its business operations.
• Financial incentives: In order to retain employees Unilever gives them financial incentives. 50% employees remain in the company for long term if they get good financial incentives. However, many employees give priority to the work life balance over mentioned incentive and not get motivated. This is extra income for the employees for extra work they do in the company. Such kind of strategy proves effective for the firm to retain employees for long term.
• Non financial incentives: Few employees give priority to non financial incentives and by promoting them or recognizing their performance company retains them for long term in its business (Latorre and et.al., 2016). Only by giving non financial incentives no firm can consistently motivate at the workplace
• Skill development opportunity: 60% employees remain in the long term in the company if they get the skill development opportunity in it. More skill development means more income in the future. Thus, this factor assists company to retain employees for long term in the company.
On the basis of the above discussion, it is concluded that before adopting any resource strategy its positive and negative sides must be taken into account. If any employee resign from a job and demands more salary or addressing the grievance then he must not be stopped. A firm must try to provide more skills development and career progression opportunity to the employees. While doing retrenchment, dismissal or someone retires proper communication must b done and on valid ground one must exist from company. Violation of conditions of contract of employment must also be considered while employee retrenchment.
Books and journals
Ahmed, U. and et.al., 2016. HR Moderating HR: Critical link between Developmental HR Practices and work engagement in a Moderated Model. Management Review: An International Journal. 11(2). 4.
Boehm, S. A. and Dwertmann, D. J., 2015. Forging a single-edged sword: Facilitating positive age and disability diversity effects in the workplace through leadership, positive climates, and HR practices. Work, Aging and Retirement. 1(1). 41-63.
Conway, E. and et.al., 2016. Demands or resources? The relationship between HR practices, employee engagement, and emotional exhaustion within a hybrid model of employment relations. Human Resource Management. 55(5). 901-917.
Currie, G., Burgess, N. and Hayton, J. C., 2015. HR practices and knowledge brokering by hybrid middle managers in hospital settings: The influence of professional hierarchy. Human Resource Management. 54(5). 793-812.
El-Kassar, A. N. and Singh, S. K., 2019. Green innovation and organizational performance: the influence of big data and the moderating role of management commitment and HR practices. Technological Forecasting and Social Change. 144. 483-498.
Kundu, S. C. and Gahlawat, N., 2015. Socially responsible HR practices and employees’ intention to quit: The mediating role of job satisfaction. Human Resource Development International. 18(4). 387-406.
Latorre, F. and et.al., 2016. High commitment HR practices, the employment relationship and job performance: A test of a mediation model. European Management Journal. 34(4). 328-337.
Gray., B ., 2015. [Online]. The retention paradox – Have tech leaders got it all wrong?. Available through:< https://which-50.com/the-retention-paradox-have-tech-leaders-got-it-all-wrong/>.
Lilly., T., 2019. [Online]. Six key elements of an employee exit plan. Available through:< https://www.propelhr.com/blog/six-key-elements-of-an-employee-exit-plan>.