Abstract:
With the advent of the new age hyper – competitive business environment, competencies required for an employee to perform more successfully in their jobs are changing dynamically. On the other hand competencies required for organizations to gauge employee performance are also rapidly changing. This change in turn has caused elements used for driving employee motivation and retention to diversify tremendously. In addition to the basic conventional elements, employees now need personal and career growth to feel motivated. This study seeks to identify this additional “growth” component as a direct outcome of formal succession management planning & capacity building practices. Conversely the study also attempts to establish the contention that additional efforts need to be made to retain individuals. The study was carried out at a local office of the Teradata Corporation, yet the audience must bear in mind that the chosen organization is one that harbors all dynamics of the international business arena since it operates in one. Our survey solicited response from a sample of 30 employees at Teradata. The aim was to gather data regarding employee motivation, turnover, levels of job satisfaction and other related elements. The findings clearly established a direct relationship between employee retention and organizational growth and suggested succession management planning and capacity building as being vital determinants of employee retention. Furthermore the study theorized that succession management is an inevitable reality for an organization that does not want to digress from its core business mission and that wants to evolve seamlessly through the turbulent business context.
