Assessment item 4 Quantitative - Research Plan Length: 2500 words Task Identify a business problem and the associated dependent variable which is of interest and perform the following tasks....

Running Head: EMPLOYEE RETENTION        1
EMPLOYEE RETENTION         2
EMPLOYEE RETENTION AND ITS IMPACTS ON 7-ELEVEN
Table of Contents
Introduction    3
Background of Employee Retention on 7-Eleven    3
Concept of Employee Retention    4
Impact of Employee Retention on Company Performance    5
Impact of Employee Retention on Employee Innovativeness    5
Maslow’s Hierarchy of Needs in achieving Employee Retention    6
Herzberg’s Theory in achieving Employee Retention    7
Designing the Questionnaire    8
Research Plan    10
Population of Interest    10
Sampling Style and Sample Size    10
Data Collection Method    11
Data Analysis Method    11
Ethical Implications    11
References    13
Introduction
In this research, the subject of discussion is about employee retention and its impact on the 7-Eleven. Employee retention is a policy where the organizations and the enterprises keep possession of their employees. This retention method is conducted in an organization, in order to acquire high revenue in the industry and this approach affects the organization in a numerous way. This research deals with the employee retention of 7-Eleven, their concept of retaining employees. Apart from this, the impacts and effects of employee performance, the innovations and the way Maslow Hierarchy achieved employee retention has been discussed. The theory of Herzberg in order to achieve employee retention has also been implemented in this research.
Background of Employee Retention on 7-Eleven
In the year 1927, a convenience store was founded by Joe C Thompson. This retail store was later named as the 7-Eleven. 7-Eleven is an American based company and its headquarters are placed in Dallas, Texas. Before it was named as 7-Eleven, the name of this company in its initial days was Tote'm Store. The parent company of 7-Eleven is a Japanese organization, namely Seven & I Holding Co. Ltd. This retailer company has more than 45000 employees according to a survey concluded in the year 2010. From the past decade, this company has faced a lot of turnover problem (Jones, 2017).
This turnover problem includes the problem of employee retention, which is one of the biggest problems that this company has countenanced. From the very beginning, this company lacked in conducting a good retention strategy within this company. As a result, the employee retention problem has come into the occurrence, because of not having a good employee retention strategy in their infrastructure. According to a survey done in the year 2016, the turnover scale of the convenience industry is 54%. After various researches, this was founded that this company is facing this problem because the employees of this company were not paid well.
Besides, the employees of the company are facing competing in the market as the other company is giving comparatively high salary to the employees (Shaw, McPhail & Ressia, 2018). The employees of the company are leaving this company at a huge rate because it is found that the authority of the company is forcing their employees to work overtime even on the weekends. Moreover, they are not being paid for their overtime job and not getting the public and national holidays.
Literature Review
Concept of Employee Retention
Employee retention strategy points out the fact that the employees are retained by an organization. It is a strategy that the companies conducted in order to keep their employees within their own company. It is a practice where the organizations apply some strategies that ensure the fact that the employees of the company are sticking to that particular organization in which they are in. In addition, they make sure the fact that the employees are staying in the company as a dedicated employee for a longer period. This practice is generally implemented in organizations that are business based (Chen et al. 2015).
It is an evident fact that in order to train a training employee in the company, the company invests their time and finance. This whole thing they do in order to ensure the fact that the trainee is market ready to work as a full-time employee for their company. This total procedure is conducted so that the trainee can work at par the other employee of the company obtains. During or after this whole process if an employee leaves the company this is considered as the loss of the company and not the employee.
In order to prevent this, the employee retention technique takes place so that the employee does not leave the company after his or her training period is completed (Cloutier et al. 2015). Even after they are certified as the full-time employee of the company, this employee retention methodology makes sure that the employee is not leaving the company for any reason.
Impact of Employee Retention on Company Performance
As per the findings conducted above this fact is evident that employee retention approach does make so many impacts on an organization in various way. This employee retention process brings some dimensions of an organization. At first, it can be said that if an employee does a company retain not feeling then it is possible that the employees are going to lose the drive to work more in the company. That is why it is necessary for the managers and the heads of the company to make the employees of the company feel satisfied with their work. On the other hand, it also implies some bad effects on the company (Wang, Zhao & Thornhill, 2015).
If the employees of any particular company are feeling that they are in a possession of the company and the...