Understanding Factors Influencing Employees’ Retention in an Organization Today
Abstract:
Employees’ retention in an organization
reduces costs in terms of recruitment, training of new staff and loss of institutional
memory as a result of experienced and skilled staff leaving the organization. The
study helps organizations to establish policy framework to reduce the turnover level
and increase employees’ retention. Employees’ turnover brings in new ideas, fresh
perspectives, experiences and skills to the organization. However, it leads to losing
employees whose skills, talents and experiences are valuable to the performance
of the organization. Qualitative and quantitative approaches adopted, self-administered
questionnaires were given out to about 65 respondents randomly selected and the
results summarized, analyzed and presented in tabular and graphical format. In addition,
secondary sources of information consulted.
According to the finding, 100% of the respondents confirmed
employees’ turnover in the organization is affected by the job insecurity. 62% believed
lack of opportunity for staff capacity development influences employees’ turnover,
54% of the respondents asserted working a distance away from the family is one of
the reasons staff leave for another organization and 77% confirmed that staff mobility
is influenced by better compensation package elsewhere within the humanitarian organizations
and 92% stated high family dependency rate as one of the factors that makes staff
move for better paid job because the income in the current job is not enough to
care take of the family members. The
study noted that an organization that invests a lot in its human resources has high
level of employees' retention and motivation today.
Keywords: Factors, Influence, Employees, Retention and Organizations.
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