Employee Retention in the fast Food Industry Assignment

Employee Retention in the fast Food Industry - Assignment Example match to the paper, presently, variations in trade agreements, technology, global economics and any other such factors are directly affect employer/employee relationships. For quite some time loyalty has been the basis for that relationship. Losing truly talented employees may be very disadvantageous to the future success of the company. Outstanding employees of a company may leave because they are underpaid, displease or unmotivated, therefore, trying to retain them is likely to present many challenges to the organization. Such employees may demand higher(prenominal) wages they may fail to comply with the directions of managers, fail to comply with practices of the organization, or not interact wholesome with their colleagues. The organizations desire to retain such employees may be further complicated by information asymmetry because lack of enough information may not help the organization to assort productive e mployees from unproductive ones. Workers frequently take credit for other employees success and deflect failures to others. Thus, employees may be punished or awarded for outcomes that they are not part of. Inadequate information regarding performance of employees may resolving power in adverse selection, outstanding ones may leave, and abysmal ones may stay. The situation is likely to occur when portentous workers are not rewarded and both productive and nonproductive ending up with the same or some the same compensation package. The problem of keeping outstanding workers in the company is further complicated referable to bounded rationality. This results due to information asymmetry because workers do not know the information to provide and the managers do not know what information to ask from their employees.