Saudi Journal of Business and Management Studies (SJBMS)
Volume-4 | Issue-03 | 276-282
Original Reasearch Article
The Influence of Non-Monetary Factors on Employee’s Satisfaction and Retention in Nigeria Organisations
Sunday Aguwamba, Macaulay Onovughakpo Augustine
Published : March 31, 2019
Abstract
Worldwide, retention of skilled employees has been of serious concern to managers in the face of ever increasing high rate of employee turnover. Excessively high and low turnover rates, both have a negative consequence on the success and productivity of the sector. The focus of the study is to investigate the influence of non-monetary factors on employee’s satisfaction and retention in Nigeria organizations. A survey of 60 full- time employees selected through stratified sampling techniques in Edo and Taraba state reveals that age of the firm, autonomy in work place; training, internal career opportunity, reward and recognition have positive significant relationship with employee’s retention. However, the study recommends that organizations should emphasize on the extrinsic factors like attractive salary package and also should give additional benefit for the good performances of the employees. Finally, organizations should adopt adequate and competitive monetary policy strategies that will discourage employee turnover.
Keywords: Employees Satisfaction, Employees Retention, Non-Monetary