Sample Thesis Paper
A company needs to make stable profits in order to continue business and expand in future years. The profit is dependent highly on the sales revenue and the sales of a company are dependent not only on the marketing strategy of a company but also on the number of satisfied customers. The cost of acquiring new customers through marketing and advertising is much higher than retaining old customers. The main factor of customer retention is the level of satisfaction of these customers. Customer satisfaction is dependent on various variables such as quality of products, price and support provided by the company. Customer satisfaction among other things is highly dependent on the level of employee satisfaction in a company. If the employees of a company are satisfied they are committed towards providing products and services of high quality (Ekerman, Moerdyk, Swanepoel and Schoombee 2006).
The human beings serving as employees are the most important assets of an organisation. The ability of a company to manage issues relating to human resources by formulating policies and implementing procedures is quite important as it ensures that the motivational level of the employees is high which is necessary for high levels of productivity. These policies may include improving working conditions, compensation and incentives, increasing employee involvement in decision making to promote employee empowerment and providing excellent growth opportunities.
This would ensure high level of employee satisfaction which would lead to quality of service and production and increase customer satisfaction which in turn would elevate the profit levels of a company. The need for effective human resource management in companies and countries which are labour intensive is more significant as the labour and workforce form the basic foundation of the economy.