Submit your order instructions

Get essay writer assigned

Receive your completed paper

Evaluating organizational psychology interventions for employee retention

This psychology report example in APA format explores organizational psychology interventions aimed at enhancing employee retention at the Commonwealth Bank of Australia. Focusing on generational dynamics within the workplace, our professional report writer addresses issues like job satisfaction, employee commitment, and turnover, particularly among Generation Z employees. Recommendations are made to improve socialization processes, orientation programs, and career growth opportunities. The psychology report underscores the importance of creating an inclusive workplace that values diversity and promotes equity, supporting a robust environment where every employee feels valued and engaged.

November 1, 2024

* The sample essays are for browsing purposes only and are not to be submitted as original work to avoid issues with plagiarism.

Evaluating Organizational Psychology Interventions for Employee Retention

Student’s Name

Institutional Affiliation

Professor’s Name

Date

Executive Summary

This report investigates the five problematic areas: job satisfaction, employee

commitment, motivation, stress, and turnover at the Commonwealth Bank of Australia (CBA). It

looks for the causes of generational differences or deficient socialization difficulties. Suggestions

will be made on how the socialization process should be given extra consideration, orientation to

the place of work should be perfected, avenues for career growth should be provided, and the

stereotypes about younger employees should be challenged. The next step in the endeavour is

devising means to measure the outlined initiatives' results. The CEO of CBA has urged for the

report submission because being concerned about unemployment, shortage of engagement, and

high turnover are significantly noticed among Generation Z employees. These issues may cause

a generational gap, but the disparity may arise from the wrong socialization process or the wrong

depiction of media regarding career goals. Improvements include lengthening newcomers’

programs, developing mentorship activities, giving them career development opportunities and

communicating staff inclusivity. With these measures, CBA can move one step ahead in

broadening the diversity, equity, and inclusion ideology and creating a workplace where

everyone feels valued.

Introduction

The report is developed at the request of the CEO at the port's helm, the Commonwealth

Bank of Australia (CBA). This large corporate financial institution has recently faced difficulties

with new employees. Our internal surveys have shown a low staff commitment; there needs to be

higher engagement/motivation, stress/health issues higher than before, higher turnover rates and

lower production among some groups. The absenteeism problem is still on its way in certain

groups. Some of the employees in this group, Gen Z, are part of the population born at the start

and end of the last decade. The head of the operation believes that Gen Z's problems are not

individual but are typical of the coming generation of workers. Still, the effects of the mass

media that may have created the stereotype young people today are too lazy and too entitled.

While the CEO is pushed for the experts to determine if the age group that Gen Z belongs to is

the sole factor, the other organizational factors could also play a crucial role. It becomes difficult

for organizations to know what their employees want if they do not recognize their needs using

these stereotypes (Staglin, 2021)). As a consultant, the report "Generational Dynamics in the

Workplace" will provide an overview of the interrelationships among an organisation's three key

elements, namely generational differences, organizational systems, and work experiences, by

highlighting the factors that make a vital workplace. Alternatively, we will also seek advice from

scholars of organizational development, behavioral science and practical research to come up

with remedial measures that address the root causes of the problem and build a better, friendlier

and inclusive workplace. CBA can use teamwork and evidence-based initiatives to help early

career employees fulfil their abilities and transition to the digital age. Evidence-based initiatives

can help early career employees fulfil their abilities, make them more sustainable, and thus help

them succeed in the modern day.

Analysis

The perception of the Senior Operations Manager of CBA towards the issues of low

engagement, commitment but motivation, stress and a high turnover rate predominantly caused

by a general description of the trend towards more inherent lazy and overprotected upbringing

among the young generation of employees was a worrying overgeneralization. This approach

risks reinforcing unjustified stereotypes and needs to consider all the factors that inform the

socialisation process. It is worth mentioning the socialization resources theory suggested by Saks

and Gruman (2018), explaining that the effectiveness of an organization in supporting the

socialization of newcomers is crucial in shaping performance, attitudes towards work, and tenure

among employees, and Strategies that can be promoted by training programs with structure,

mentorship initiatives that are applicable, and a clear conveyance of organizational value, norms,

and expectation have the propensity to considerably improve the onboarding experience for new

hires and aid them in this aspect. A recent workforce review by Rudolph et al. (2021), which

already came from a systematic point of view, has looked behind each claim of the relationship

between generational differences and the workforce. The study identified that most generations

have more commonalities regarding work values, personalities, attitudes, and behaviors than

differences in millennials or Gen Zs. Banehsaz Civilization was born in an antic time and is more

Bene than Hoax. It was created from the wrong stereotyping of generations. These explanations

for observed situations can only be associated with difficulties that a newcomer group will

encounter in the organization; hence, they do not impose that only the millennials face what they

are facing. The first year of any new job and new organization can be arousing of stress during

the adaptation period. Socialization resources theory (Saks & Gruman, 2018) envisions that a

more effective organization can facilitate the socialization process through tactics like training,

mentoring, and via clear communication of values/norms determines the result of the grounded

performance, engagement, retention, and well-being.

Media depicting lifestyles, career interests, and goals may harm job satisfaction (Valero

& Hirschi, 2019) and the inability to adapt to new careers (Cai et al., 2023). A profound obstacle

to newcomers is adjusting their aptitude, skill, and alacrity to match the organization's

environment suitably. This may lead to the emergence of behavioral and attitudinal difficulties.

Banks as venues for professional employment already become increasingly relevant to this

problem with the example of young professionals who first got used to conceptualizing their

opinions and became accustomed to free and open dialogue recently.

Besides this, job embeddedness, referring to the extent of an individual's involvement in

their job and the workplace's community, will be a crucial mechanism for socialization and

positive outcomes. These outcomes mainly include engagement and retention, enriching the

sense of belonging, and creating visions of future growth, which also led to augmented

embeddedness and retention. Lack of immersion in the group of people during their early career

campaign may lead to high turnover rates.

Recommendations

This report recommends implementing several initiatives to improve the situation with

the bank's early career employee group. The HRM Department of CBA should extend orientation

and onboarding programs over 6-12 months so newcomers get enough time to get used to

continuing gradually. Such programs should cover the roles, organizational history, culture,

practices, values, and politics. Furthermore, establishing an apprentice/mentor support system

could reduce the learning curve more easily, with experienced staff members becoming the new

employees' guides, helping them with systems and processes, and strengthening the company's

professional networks.

Besides that, increasing job embeddedness would be necessary for developing a shared

environment that treats people alike, creating a feeling of togetherness and fostering a sense of

community. Applying group activities like team building, social events, and employee resource

groups for kinship ensures the supervisor's feedback coaching marks the workplace, and a

supportive environment ensures subordinates feel valued. Create a tightly knit unit of employees

to reinforce the meaning/impact of their work contributions. Identify where the employees can

see opportunities for growth, job ladders, and potential career advancements within the business.

They are expanding career development support. By way of task rotation across different

concerns, stretch assignments, coaching, and other educational programs dedicated to developing

employee knowledge, we can surely enhance the skills of our workforce. Using it, staff members

would widen their capabilities, cement job fit, and sharpen their minds regarding what to expect

—promoting growth mindsets among the audience by highlighting that individuals can

continually acquire new knowledge and the ability to change.

Furthermore, CBA ought to initiate proactive actions to counteract and dispel the

negative and non-physical stereotypes young generation workers are fed in the workplace.

Communicating the factual background around disproven myths can be a way to bridge the gap

between the young and old generations. Schools must be at the centre of the educational process,

recognizing that this stereotyping is harmful, and should be working to promote practices that

embrace individuality and respect for all employees regardless of age because they are all

professionals based on their knowledge and experience. Implementing all these

recommendations can reinforce its socialization processes, improve job attachment to the

organization and create an environment where people can grow their careers and one that values

and embraces diversity. These efforts address the existing challenges and give forward-looking

goals to enhance the organization's long-term ability to lure and retain competent talent from

different generations.

References

Cai, D., Li, Z., Xu, L., Fan, L., Wen, S., Li, F., Guan, Z., & Guan, Y. (2023). Sustaining

newcomers' career adaptability: The roles of socialization tactics, job embeddedness, and

career variety. Journal of Occupational and Organizational Psychology, 96, 264–286.

https://doi.org/10.1111/joop.12423

Rudolph, C.W., Rauvola, R.S., Costanza, D.P., & Zacher, H. (2021). Generations and

Generational Differences: Debunking Myths in Organizational Science and Practice and

Paving New Paths Forward. Journal of Business Psychology, 36, 945–967. https://

doi.org/10.1007/s10869-020-09715-2.

Saks, A. M., & Gruman, J. A. (2018). Socialization resources theory and newcomers’ work

engagement: A new pathway to newcomer socialization. Career Development

International, 23(1), 12-32. https://doi.org/10.1108/CDI-12-2016-0214

Staglin, G. (2021). The Future of Work Depends on Supporting Gen Z. Forbes. https://

www.forbes.com/sites/onemind/2022/07/22/the-future-of-work-depends-on-supporting-

gen-z/?sh=618904c5447a

Valero, D. & Hirschi, A. (2019). To hangover or not: trajectories of job satisfaction in adolescent

workforce newcomers. European Journal of Work and Organizational Psychology, 28(2),

150-163. https://doi.org/10.1080/1359432X.2018.1564278

November 1, 2024

24/7 custom essay writing by real academic writers

WPH

Academic level:

Undergraduate 3-4

Type of paper:

Report

Discipline:

Psychology

Citation:

APA

Pages:

5 (1397 words)