The Assignment Draft Template is a planning tool designed to help formulate and organise the sections in the group report. Please complete the following table in approximately 500 words.
EPIC is an audit and accounting firm located in Australia which provides professional services like auditing, accounting, tax and advisory services. It was formed in the year 1991. The main aim of this organisation to provide best services that will enhance the customer value. The company growth has always been based on the ability to embrace the sexual orientation and cultural diversity thus being recognized as an equal opportunity to all irrespective of the gender. In terms of sustainability, the company has continued to invest in innovation of new services through acquisition, alliance, and growth.
Identify four key issues concerning the management of its employees (The issues selected must be spread across at least 3 of the subject’s modules)
Recruiting the right candidates and developing the skills will be the major problem with in the organisation in the initial stage. Getting the person with right skills and providing resources to get work which is needed by the organisation is a wide investment. Placing the right person in a right area will be a key factor for the sustainable future.
Team management is a very popular and important term in our modern society, the backbone of effective communication or success of many industry. According to Scarnati (2001, p. 5), team management is illustrated as a cooperative process, which can help people to obtain and achieve extraordinary outcome. In addition, Harris & Harris (1996) also state that team is a group of people, who work together for common goals or purpose. Similar to individual level, the effectiveness of teamwork is one of the most interested concern of the manager at EPIC because this is the main factor can bring development or fantastic outcome for company.
Motivation is the key determinant of organisation performance. Motivation by commissions and prizes has a tendency to touch off the exertion of an individual and coordinates the entire vitality towards accomplishing the allocated task. (Hitka et al2017, pp.7889). The enhanced profitability of an individual and the entire team changes to the upgraded performance of the whole organisation, in this way; organisations that utilization a tremendous pool of remunerations have a tendency to have high result.
In EPIC the output is low as the individual accomplishments are not constantly valued, the salary isn't in understanding to the market range, and it takes quite a while like five years for a employee in the organization to have the salary increased. In many organisations, performance has been improved using motivatioin ideas and theories, for example, Maslow's Hierarchy of Needs, Herzberg’s Hygiene model, McGregor’s Theories
EPIC Company encounter a high rate of worker turnover, coming about because of the poor administration procedures that are fit for holding the employees. The high rate of turnover is very costly and squander a considerable amount of time to the organization because of different recruitment process is finished. Low-level turnover is much satisfactory in a few associations since it counterbalances potential dormancy, energizes advancement and wipes out low performers. The turnover can be diminished through use of legitimate retention techniques by the administration group. The created maintenance methodologies must guarantee that it tends to the employees needs and concerns prompting low turnover. The retention procedure is clarified using motivator-hygiene theory or two-factor theory and process theory.
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