Kabale, Tache Arero (2012) Effect of Welfare Practices on Staff Retention at Postbank: A Survey of Postbank Branches in Central Business District, Nairobi. Masters thesis, Kenyatta University.
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Effect of Welfare Practices on Staff Retention at Postbank A Survey of Postbank Branches in Central Business District, Nairobi - By Kabale, Tache Arero.pdf - Accepted Version Restricted to Repository staff only Download (35MB) | Request a copy |
Abstract
Human resource is undeniably one of the key resources in any form of an organization. Within operational expenses of a company, human resource related costs form a huge chunk of the total costs indicating the amount of cash resources organizations spend to have people in their payroll. Further, to indicate the importance of human resource, scholars and entrepreneurs have defined employees as human capital while knowledge management has been introduced in many organizations in order to preserve the knowledge and skills generated by staff. In order to retain valuable human resource and their embodied skills and knowledge, organizations employ various welfare practices and strategies to protect exit of staff. The overall objective of the study was to analyze the effects of staff welfare practice on staff retention at Kenya post office savings bank. The following specific objectives were formulated; to establish the effect of staff loans on staff retention, to identify the role of bonus salary on staff retention, to establish the implication of long service awards on staff retention, to identify the most and least popular staff welfare facility among the staff, and to establish the perceptions of staff regarding the adequacy of welfare facilities offered by the Bank. The researcher used a descriptive research design which is often used in survey research. The estimated target population in the area of interest was 300. The sample was drawn from the 300 employees across its branch network within the central Business District, Nairobi through stratified random sampling in order to come up with a sample size of 60. Questionnaires were used as the research instruments of data collection. Data analysis was done by the use of descriptive statistics and presented in form of frequency tables, and percentages. The response rate was 90% where out of the issued 60 questionnaires 54 were returned and considered adequate to commence the analysis. Findings established that the effects of staff loans on staff retention at Postbank include staff loans are the most influential staff benefit to retention, staff loans with concessions improve staff retention, staff loans lock employees to Postbank even when they would want to leave for better career, and that if staff loans were eliminated many employees would opt to leave the bank. The effects of bonus salary on staff retention in the organization include bonus salary are the most influential staff benefit to retention, bonus salary lock employees to Postbank even when they would want to leave for better career, if bonus salary were eliminated many employees would opt to leave the bank, and that if the range of. bonuses was increased, staff morale will be better. The reasons why employees leave the organization for another include hiring practices, management style, lack of competitive compensation system, lack of recognition, toxic workplace environment, and lack of job security. The most popular staff welfare facilities available for Postbank employees include car loans, bonus salary, long service awards, mortgage loans, and salary advances. It was recommended that the organization should ensure that there is adequate allocation of resources; the organization should exercise a healthy hiring practice so as to ensure cooperation between employees of the various departments in the organization, and establish an implementation team that is responsible with overseeing those organizational procedures are observed to the latter. The researcher suggested that further research should be carried out on the effects of employee reward systems on organizational performance
| Item Type: | Thesis (Masters) |
|---|---|
| Subjects: | H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management H Social Sciences > HF Commerce |
| Divisions: | Africana |
| Depositing User: | Tim Khabala |
| Date Deposited: | 13 Sep 2017 07:51 |
| Last Modified: | 13 Sep 2017 07:51 |
| URI: | http://thesisbank.jhia.ac.ke/id/eprint/2095 |
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