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Business Management -- Speech Outline
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SPEECH OUTLINE -- BANKING PERSONNEL Management ISSUE
Attention Step
Introduction
Recommendations
Recommended Solution -- Increase Compensation to Increase Retention
Increasing compensation is the best solution.
Banking employees generally have a transactional perspective of their relationships with their employing organization and employers.
Transactional motivation is primarily a function of compensation satisfaction.
In transactional relationships between employees and employers, compensation level is the primary reason that employees accept employment offers, contemplate changing jobs, and entertain alternative options in that regard.
Cognitive dissonance allows better paid employees to maintain a more positive attitude toward their positions and increases their willingness to work hard.
Increasing compensation improves employee attitude and morale in two specific ways: by (1) enhancing their sense of being appreciated by their employer, and (2) making the most direct positive contribution to their practical life priorities.
Increasing non-monetary benefits is less effective unless they are substantial enough to match the benefit of direct compensation increases.
Ideally, calculation of compensation rate increases should incorporate length of employment to encourage and reinforce long-term tenure by connecting rewards directly to the desired outcome.
Providing additional promotional opportunities would be the least effective solution because, by definition, it can only benefit a small percentage of the workforce.
The greater the increase in compensation, the more beneficial the initiative will be to achieving the organization's objectives.
In the long run, increasing compensation may be less expensive than the other solutions because high turnover rates contribute substantially to overhead costs in the areas of recruitment, hiring, and training expenses.
In the long run, increasing compensation may enhance organizational effectiveness because long-time tenure among personnel directly enhances operational performance.
Brief Preview of Following Reasons
Reasons in Support of Recommendations
Counterargument and Rebuttal
Closing Statement and Call to Action
References
Daft, R. (2005) Management. Mason: Thomson South Western.
George, J.M. And Jones, G.R. (2008). Understanding and Managing Organizational
Behavior. Upper Saddle River, NJ: Prentice Hall.
Kinicki, A. And Williams, B. (2005). Management: A Practical Approach.
New York: McGraw-Hill.
Robbins, S.P. And Judge, T.A. (2009). Organizational Behavior. Upper Saddle River,
NJ: Prentice Hall.
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