Further, RasGas may choose candidates who will fail to complete their chosen educational programs and create a sunk cost loss for RasGas. The use of an objective rating scale linked to organizational goals and future performance can limit these potential losses and increase the chances of securing productive employees post graduation. In order to create a winning proposition, one of the focus areas for RasGas is the 'development of its employees and the organisation', which can only be realized when the company is in a position to objectively rate the performances.
Motivational factors arouse a need, propelling a person to channelise his efforts and energies in the direction of fulfilling those needs. These needs are aroused in the employee of an organization to increase the output, provide quality, increase efficiency, maintain industrial peace etc. An effective management must understand the fact that there are at least two ways by which the behavior of employees could be directed towards the productive pursuits in the organization. One is by changing the personality, i.e. the internal psychological structures of the person, which is a long-drawn and uncertain process. Another strategy is to modify the characteristics of the situation prevailing around the employees. These situational factors have tremendous influence in shaping one's personality. Providing suitable ambience and opportunities for career development and education hold the key in setting the process in motion.
2. Aim: To design a Success Predictability Scale for scholarship candidates
Analysis of the present policies of RasGas to encourage the talent.
Analysis of the levels of motivation and urge for pursuing higher studies amongst the existing staff by conducting interviews and by observing them on the job.
Analysis of the internal reports and other data about RasGas available in the public domain.
Establishing a documentary link between scholarship awards and degree fields that supports the long-term goals and objectives of the organization.
3. Benefits to the Organization:
The benefits to RasGas for using an objective success potential scale linked to organizational objectives for scholarship candidates are:
Enhance the reward potential of opportunity costs associated with a scholarship candidate.
Lower potential and actual economic losses associated with the scholarship program.
Increase the chances of successful degree completion by scholarship candidates.
Saving of as much as $500,000 US on candidates who are less likely to complete their assigned programs and make contributions to the organization that exceed the organization's investment in their education.
Motivated employees, who in turn help the company more efficient and competitive.
Motivation and encouragement leads to lesser attrition rates and turnover ratios, which in turn saves lots of costs associated with recruiting a team of new person time and time again.
RasGas considers its workforce as one of its greatest assets and with people from over 36 different nationalities working together within the organisation, encouraging career development