An Empirical Study of Employee Engagement: An Opportunity or Challenge with Special Reference to TAJ Hotel at Jodhpur

Abstract

The workforce working in an organization was once considered a mere „factor of production‟ who was employed for producing the goods and services. Gradually, the business firms started realizing that human resources are the precious assets for the survival and success of business. The manpower then gained importance in corporate scenario and were referred to as „human resources‟. Over the time, competition became intense and human resources became means to gain sustained competitive advantage. According to the resource based theory given by Jay Barney the employees are considered as an investment and the new term „Human Capital‟ came into existence. Further for assessing the value of Human Capital many private and public organizations have already adopted most widely used concept of HRA (Human Resource Accounting).With the increased in focus on human resource today the organizations are struggling ever increasing high attrition rate as it involves physical loss of the employees. This is also due to lack of employee engagement of skillful and intellectual human resources. Employees continue to be an integral part of the organization but several times they do not feel involved in the organization resulting into poor or zero productivity. [1].

 

Keywords: Attrition rate, Engagement, Factor of production, Human Capital, Manpower.