Managing People and Organization Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

Introduction

Massachusetts Mutual Life Insurance is also called as the MassMutual. The company has been a leading United States based mutual life insurer where the firm has been providing life policies, money management, annuities and it also provides the retirement planning to individual and also the businesses not only in the United States but across the globe also.

The company was founded in the year 1851. The company even offers disability income insurance, the long term care insurance, trust services and also the structures settlement annuities. The subsidiaries for the company include the MML Investors Services, OppenheimerFunds (mutual funds), Baring Asset Management and also the Cornerstone Real Estate Advisors as its subsidiary.

The company is considered as one of the largest firms in terms of the services and the revenues it generates on yearly basis. The company has been headquartered in the Springfield, Massachusetts, United States. The company has been gaining customer attraction with the increased number of products it has been offering to the clients. The company, to attract new customers as well as retain the existing customers, looks to expand its reach with the extensive use of different services and support (massmutual.com)

Along with this, the company is ranked 94^th on the list of Fortune 500 list as per the survey of 2015. The company has been reasonable revenues and profits, the total revenues accumulated in the year 2010 have been $25 billion and the total asset management has been approximately $448 billion in the year 2010.

Problem Analysis

The paper shall discuss the major issue within Massachusetts Mutual Life Insurance where the employee turnover is the highest for any company around the world. The company has been facing the highest percentage of employee turnover where the company has been rather unable to find solutions to the ever increasing turnover in the company.

A major fact in the sales and insurance industry is the fact that the employee retention is an issue because of the monthly sales targets and the constant pressures to achieve the sales has been a major factor which has made the percentage of employee turnover increase. The average age at the company is 38 and the average stay or the median stay of an employee at MassMutual is around 8 months approximately.

This has been a major drawback which has hindered and restricted the growth of the company. Moreover, the level of employee satisfaction is also quite limited and less. The employees find it difficult to motivate themselves after an employee leaves the organization, because the remaining workforce has to actually fulfil the role of the resigned (Mayer. 2005).

Therefore, it can be said that in spite a growing company which has been achieving a lot of sales and revenue has been unable to retain the top talents in the firm. Moreover, the firm is looking to reduce the employee turnover to become a successful organization in terms of managing people.

Analysis

Maslow Hierarchy of Need:

MassMutual has been unable to retain and sustain the top talents and the performing and non performing employees. This has been a major reason where the employee retention is next to minimum. Moreover, the employees do not find any motivation because their basic needs are not being fulfilled within the firm.

Maslow has explained the motivation through a pyramid. Any person who is educated and belongs to a middle and upper class segment of the economy reaches the top of Maslow Need pyramid. In the current situation, the company has been unable to fulfil the basic needs of its employees. Psychological needs or the basic needs are the bench mark which all people around the world want (Forgas, J. 1998).Managing People and Organization Case Solution

If their basic needs are fulfilled than only they tend to reach the next level. In the current situation of the company an employee wants to earn a respectable job, which can earn reasonable money where he can fulfil basic needs and live a normal life. If he is not provided with the basic necessity he tends to remain dissatisfied and eventually leads to poor job performance.

In the current situation, the company has been unable to satisfy the basic needs of the sales force or the sales team, therefore, they have been looking to switch jobs and find new career opportunities (Gist, 1990)...................

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