Introduction:
HiTec International is the company which is emerging organization. It has annual turnover of more than $19billion in current and employs more than 30,000 people across the world. The headquarter of HiTec which is located in West Dublin employs 2500 people in which 90% are permanent employees and remaining are on contract basis. HiTec have some expertise in procurement of hardware and bespoke programming solutions for corporate customers to aid them in boosting the utilization of the web. HiTec likewise give a complete after sales Motivation is derived from the latin word “movere” which means to move. Motivation is the process of moving from ones needs to drives and finally to incentives.
Needs are identified because of a deficiency which may be physiological or psychological.
Drives activate the behaviour for fulfilling the needs that were identified above.
The behaviour which is performed because of drives cause results in a reward or an incentive which may be tangible or intangible.
This report is about selecting a job that will motivate us and explaining the same using various motivation theories. We deliberated on the kind of jobs that would motivate us and came to the conclusion that we would wish to be management consultants in a reputed consultancy firm. After looking for vacancies in various job portals and company websites we came to the conclusion that joining Mckinsey and Company would be the best.The details of the job description and the company overview is discussed below.
Job Description
Junior Associate – McKinsey & Company
“As a consultant, you will join teams working with the top management of corporations on critical issues, identifying business opportunities, generating and evaluating solutions, and developing result-oriented change programs. You will also have the opportunity to contribute to the development of state-of-the-art management concepts and practices.”
McKinsey & Company is a global management consulting firm which started in the year 1926. It is one of the most trusted advisors to the world’s leading businesses, governments and institutions. One of the golden rules that Mckinsey follows is below which is beneficial to both employees as well as clients “We work with our clients as we do with our colleagues. We build their capabilities and leadership skills at every level and every opportunity. We do this to help build internal support, get to real issues, and reach practical recommendations. We bring out the capabilities of clients to fully participate in the process and lead the on-going work.”
Motivation theory – Equity Model
This cognitively based model is on the calculation of outputs received by an individual and the amount of input that he/she has put in to get the outputs. The inputs and outputs might be perceived differently by different individuals and hence it is measured relative between individuals. Age, sex, education, social status, organisational position, qualifications and how hard the person works are examples of perceived input variables. Outcomes consist primarily of rewards such as pay, status, promotion and intrinsic interest. Schematically this is represented in the 3 possible scenarios.
If the perceived ratio is not equal to the others, he or she will strive to restore the ratio to equity. This striving to restore equity is used as the explanation of work motivation. The person may alter the inputs or outcomes, cognitively distort the inputs or outputs according to his or her scale.
Maslow’s Needs Hierarchy and Theory of Motivation
The Maslow’s model is one of the classic content theoretical models that explained motivational needs as a hierarchy. To simplify, he believed that once a given level of need is satisfied, it no longer serves to motivate. The next level of need has to be activated, which results in the motivation of an individual. The various levels of Maslow’s need can be understood by the below diagram with reference to a job or career.
The job application that we are referring to is catering to the physiological and safety/security concerns that are required. The pay is quite high even at the entry levels with a base package of 20 lakhs p.a. with additional variable salary components that amount to 6 to 8 lakhs more.
The next level i.e. the social level has been considered as an important aspect in the work culture of Mckinsey wherein they follow a collaborative approach. The associates work in small groups of 3 to 5 which consists of business analysts, associates and partners. The organisation is flat with few hierarchical levels and hence it makes easy for a person to approach others and get help in case of any issues. Our understanding of different industries and functions will grow exponentially as the teammates share their expertise. We’ll receive coaching and feedback throughout the engagement. In fact, consultants often find life-long mentors—and friendships—in their senior colleagues.
The 3 levels of Maslow’s hierarchy are something which is readily satisfied by the job and the organisation. Hence focusing on the next level is the Esteem. Self Esteem as well as respect from others is an important aspect that needs to be addressed. Taking this job would provide us and opportunity to grow in the organisation. This is evident from the fact that Mckinsey recognises the performance of the individual and promotes them as seen in various posts from associates in forums. Formal performance reviews happen at the end of every project and associates with good analytical and people skills move up the ladder. The “Up or Out” approach makes sure that the performing people deserve to go to the top, right to the level of a CEO.
Self-actualisation is indeed the most important aspect of this hierarchy where the professional tends to move towards satisfaction in life, both professional and personal. To cater to this need, Mckinsey creates a conducive environment where we will get many opportunities as described below.
“Our private-sector work will put you at the center of the transformative forces sweeping business. We work in just about every industry and functional area you can imagine, with engagements that range from creating entirely new businesses, to leveraging leading-edge technologies, to reinventing manufacturing, to advising companies on the future of media and social sharing.
Our public-sector and social-impact work is global in nature. We advise many of the world’s governments and NGOs on everything from re-imagining the delivery of education and the healthcare services to creating centers of local entrepreneurship.”
Apart from professional aspirations, there is a scope of people for pursuing their passions such as singing, travelling and other personal wishes by opting for a programme known as the TIME-UP programme. The highlights of the programme are
“Our “Take Time” program allows consultants to take time off between engagements to pursue personal interests and passions, whether that includes spending time with family or going on a dream trip. This “on and off” model allows consultants additional time to recharge without disrupting client work.”
Making a difference in the world is a deep motivation.
Porter Lawler Model
Porter and Lawler suggested that motivation does not equal satisfaction or performance but they are all separate entities. They say that effort does not lead directly to performance but is directed by abilities, traits and by role perceptions. The rewards that follow and how they are perceived will determine satisfaction. Unlike the content theory, here performance leads to satisfaction.
In lieu of the above theory, Mckinsey is cutting back their financial-incentive programs, but have used other ways of inspiring talent. The understand how to make their employees perform better and hence get satisfaction. Analogous to Porter-Lawler’s model we have:-
Opportunity to perform- Mckinsey provides ample opportunities to its employees in order to enhance performance a chance to lead projects or task forces.
Abilities & Traits- As a company Mckinsey believes in its employees’ abilities and delegates work as per their abilities. Their belief helps the people to understand their potential and work towards better and better performance.
Role Perceptions—Managers set expectations for the employees under them to perform better with specific roles.
Effort Level and Direction of Effort- Praise from immediate managers for their work is found to be an effective way to boost the morale of the people. The employees are guided towards a direction so that their own effort is rightly appreciated and is fruitful for the company
Self-Efficacy- Inculcating a strong sense of self-efficacy among the people helps them to develop deeper interest in the activities they perform.
By Leadership attention-Managers go on one-on –one meeting with their team members to help them develop the desire to perform and produce a desired effect.
Effort-Reward Probabilities- Team members are rewarded as per their performance.
As budding managers this study helps us to realise that we need to inculcate the culture of performance driven satisfaction among our peers and subordinates. It is important for us, as managers, that we have belief in our team members and motivate them to perform better which will help us and them to gain satisfaction.
services which go beyond maintenance of software.
The organization is perceived as worldwide business sector pioneers in a few of its central line of business. Because of the focused market that HiTec works in development and persistently advancing engineering improvements through innovative work division is vital to the organization’s future achievement. HiTec offers workers brilliant terms and states of livelihood with top-pay rates, liberal extra plans, rebates, benefits, and wellbeing and life coverage. The earth in which they work is extremely alluring with superb offices, for example, staff cafeterias, wellness offices and valet administrations. Staff retention is great; turnover levels are at present at 5% of which half are represented by dismissals and non-renewal of fixed term contracts.
Problems:
HiTec are encountering some troublesomely with discovering sufficient number of workers with the obliged aptitudes to reach its development needs. Because of the quick moving nature of the industry which makes it difficult to usefully employ graduates with limited experience and train them. With the time, they learned a lot of skills and then moved on to another organization to learn more skills.
HiTec likes the people which are employed in companies to who with HiTec has a customer relationship and in partner companies but HiTec has a long standing policy to not recruit from these sources.
However, HiTec is recruiting people through advertisement in national newspapers and with the use of headhunters but this also not succeeded because through national newspapers the people who are properly qualified are few and head hunters are also not succeeded due to target labor market is so small.
Advice:
HiTec should explore the fundamental reasons of people leaving the jobs. HiTec should distinguish new methods and strategies, for example, making a developing leaders program, giving preparing to directors, and enhancing their representative distinguished program. As a result, they will draw in better ability and all the more significantly will have the capacity to hold best individuals. And the HR Department will be more satisfied in light of the fact that they won’t spend all their time conducting training.
HiTech can improve their ability to attract, retain and improve productivity by applying the following five-step PRIDE process:
P – Provide a Positive Working Environment R – Recognize, Reward and Reinforce the Right Behavior I – Involve and Engage D – Develop Skills and Potential E – Evaluate and Measure
Step 1–Provide a Positive Working Environment
HiTec should provide a positive working environment to its employees to retain them for a longer period. Employees quits the jobs for many reasons but one reason for quitting them is the relationship with their first line-supervisor because the fact is that managers and supervisors are totally unaware with their actions that can affect employees.
Manager training is a critical aspect for an effective retention strategy. Suitably trained managers play a key part in an effectual recruitment and retention policy. Managers need the skills, tools, and knowledge to help them understand their employees’ retention needs and be able to implement a retention plan designed to increase employee engagement in the organization.
Step 2–Recognize, Reward and Reinforce the Right Behavior
Cash and profits may draw in individuals to the front entryway; however something else needs to keep them from going out the back. Individuals have a fundamental human need to feel acknowledged and pleased with their work. Recognition and motivation projects help address that need.
A fruitful prize and recognition program does not need to be confused or lavish to be compelling. Hitec ought to offer prize to its workers. In a few organizations CEO frequently give their extravagant auto keys to their workers for a week or for an outing. This inventive approach to remunerate workers has a greater effect than money. In the event that you gave someone a $200 reward, it wouldn’t mean all that much. When somebody gets to drive an auto for a week, they always remember it.”
For Example, At First American, administrators exhibit a Greased Monkey Award to the machine specialist who is best in determining issues with machine programs. The recompense is a plastic toy monkey in a container of Vaseline alongside a $50 supper testament.
A supplies wholesaler remunerates each worker’s work celebration with a cake and a check for $200 for every year utilized. Twice a year workers’ kids get a $50 reserve funds security when they accumulate their “everything A’s” report card. What’s more, they compensate workers with a “Security Bonus Program.” They screen each representative’s driving record twice a year, and any individual who has a reference is expelled from attention. Those representatives staying toward the end of the year separate $2,000. On Fridays, all representatives pivot employments for one hour. This fabricates a stronger group, solidarity, and enhances correspondence inside the organization.
Step 3–Involve And Engage
The directors of Hitec ought to be included and captivate with the workers. Individuals are more dedicated and captivated when they can help their thoughts and proposals. This provides for them a feeling of proprietorship.
Hitec ought to have a capacity to make and produce new and creative items. Keeping in mind the end goal to encourage the trade of thoughts inside offices, they ought to support a yearly Idea Exposition. Amid the article, researchers and designers showcase ventures and thoughts they are chipping away at. This procedure makes a solid atmosphere of development and captivates each one of the individuals who take an interest.
Organization should have a unique way of making its employees feel valued and involved. One wall within the company contains the photographs of all employees who have worked there more than five years. Their “equality” program goes beyond the typical slogans, posters, and HR policies. There should no reserved parking spaces or other perks just for executives — everyone is an equal. This is one reason why companies can be best employer company.
Step 4–Develop Skills and Potential
For the vast majority, vocation opportunities are generally as vital as the cash they make. In a study by Linkage, Inc. more than 40 percent of the respondents said they would consider leaving their present boss for an alternate occupation with the same profits if that employment gave better vocation improvement and more prominent difficulties. So Hitec ought to create abilities and possibilities for their staff to hold them/
Hitec ought to find that why they were losing gifted individuals to different organizations and they ought to lead passageway reviews to discover what number of representatives who left to take new occupations and vocations outside the organization and can accompany the same employments and professions inside Hitec. As an issue they ought to make with an intranet-based improvement and profession guiding project for all representatives. This will bring about over of workers who left the organization and representatives will exploited the project and perspective inside employment opportunities. Not just does the system give new openings for work, however Career Connections offers an assemblage of profession improvement instruments, for example, assessments toward oneself, apparatuses to create continues, and articles on different occupation looking for techniques inside the organization. Gifted individuals won’t stay in a vocation in the event that they see no future in their position. To wipe out the inclination of being in a deadlock work, each position ought to have an individual advancement plan.
Step 5–Evaluate and Measure
Nonstop assessment and endless change is the last venture of the PRIDE framework. The main role of assessment is to measure advance and figure out what fulfills and de-fulfills your workforce. The assessment procedure incorporates the estimation of demeanor, confidence, turnover, and the engagement level of the workforce. Here is an agenda of things that ought to be incorporated in Hitec’s assessment and estimation process.
- Carry out an employee satisfaction survey at least once a year.
- Improve your contracting methodology to make a finer match between the singular’s abilities and employment prerequisites.
- Examine those divisions that have the most elevated turnover rates.
- Hold chiefs in charge of maintenance in their area
- Initiate interviews and surveys concerning the real reasons people come to and leave your organization.
- Provide flexible work arrangements for working parents and older workers.
- Start measuring the cost of turnover.
- Focus on the key jobs that have the greatest impact on profitability and productivity.
- Design an effective employee orientation program.
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