Employee Retention Strategies And Organizational Performance

Abstract

The study empirically examines the relationship between employee retention strategies and organizational performance. Using a sample size of 120 respondents in a leading beverage establishment in Nigeria, the results shows that organizations with adequate employee retention strategies in form of enhanced and regular monthly Salary package, workers participation in decision-making on issues affecting them, policies that favours job security and provision of incentives that bothers on staff family welfare retains and enhances employee performance. Implication of the results for practice is that any organization that fails to put in place adequate employee retention strategies is not likely to retain competent and motivated workforce in its employment and hence experience frequent labour turnover and poor organizational performance.

Keywords: Employees, Retention, Motivation, Job Security, Labour Turnover and Organizational Performance

IFE PsychologIA Vol. 16 (2) 2008: pp. 131-152