Scottrade Company: Employee Motivation And Turnover

Reward and recognition programmers increase motivation and reduce staff turnover. Reward and recognition programs have also been linked to a reduction in staff turnover. (S. Salie&A. Schlechter,2012). In my opinion, the job commitment increases with an increase in job rewards and recognition. Moreover, motivation can be intrinsic or extrinsic. Extrinsic motivation refers to perform activities for known external rewards, whether they be tangible for example money or psychological for example praise. Intrinsic motivation refers to challenges, to extend and exercise one’s capacities, to explore, and to learn. (A. Turner,2017) In my opinion, Reward and recognition programs may have a significant effect on the job commitment of employees as

(B. Joseph, A. Walker,2017). In my opinion, EAP play an important role to reduce corporate costs by influencing the variables such as absenteeism, productivity, performance and turnover in in Scottrade Company. So, I suggest, Scottrade Company should not make the offerings within their EAP mandatory and that’s never a good idea. So, in my opinion, the most efficient way to provide a staff incentives in Scottrade Company is via a structured employee recognition programmed, which is run on an online platform. This places all the information at both management and employees’ fingertips, allowing the entire business to easily engage with it. Rewards are visible to staff to provide an added incentive to work hard. The ability of management of an organization to retain their employees is called employee retention. (S.Gulzar , A.Advani,T.Jalees,2017).In my opinion, employees retention becomes one of the biggest issues for the development sector of companies because people are the one who generates profits and considered as the capital or asset of the organization. Performance management is the activity and set of processes that aim to maintain and improve employee performance. Performance management practices give employees opportunity to express their ideas and expectations for meeting the strategic goals of the company. Performance management practices could be an effective source of management information and renewal (WD. Basnayake,2017). In my opinion, the use of reward system has been an essential factor in Scottrade Company's ability to meet its goals to retain employees. In addition, performance management practices of Scottrade Company can impact on employee retention through appraisal, reward and feedback. I think, it should be used to achieve