Unveiling the Keys to Employee Loyalty: Exploring Factors Affecting Employee Retention
Abstract
The issue of employee retention is a crucial factor especially if a company wants to remain relevant in the market. The research analyzes how compensation and benefits, training and development, working environment, and reward and recognition impact the retention of employees. This study will employ a quantitative research design that will involve administering questionnaires to employees working in companies around Klang Valley conducted within the context of Malaysia. In this study, the concepts of Maslow’s Hierarchy of Needs and Alderfer’s ERG Theory will be used in a bid to determine factors affecting employee retention. The sampling technique to be used is non-probability. Therefore, convenience sampling will be used with a view of identifying participants with rich information on their experience and perceptions towards the objectives of the study on employee retention. The study seeks to establish how these independent variables impact employee retention to enhance understanding of Human Resource Management (HRM) practices. Reliability analysis, descriptive analysis, correlational analysis, and regression analysis will be employed as a measure of the strength and direction of these relationships. It will reveal the most critical antecedents to overall employee retention and provide actionable insights that organizations can implement to improve their practices. Therefore, while filling the gap in the literature and targeting the Malaysian industry, this study aims to enhance understanding of the factors influencing employee retention. Finally, its purpose is to help organizations design proper approaches to retain top talents in the company and make them dedicated to work.
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References
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