EXPLORING THE BENEFITS OF STAFF RETENTION STRATEGIES AND PERFORMANCE IN THE NIGERIAN BREWERY INDUSTRY
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Description
Growth in the Nigerian brewery industry has thrown-up challenges on how to
retain scarce and competent workforce for the realization of organizational goals.
This study empirically explores the benefits of staff retention strategies for
organizational performance. To achieve the objectives of the study, 120 copies of
questionnaires were administered to respondents and structured interview carried
out with members of staff of the Nigerian Breweries Plc located at Abebe village,
lganmu- Lagos. The study adopted the chi-square analytical technique to analyze
the variables. The findings showed that there is a significant relationship between
staff retention strategies (rewards) and organizational performance. Further
findings showed that there is a significant relationship between staff participation
in decision making, frequent staff turnover and organizational performance.
Furthermore, the study found that organizations have a lot to benefit from proper
implementation of staff retention strategies in the area of competent employee
retention, job satisfaction amongst staff, highly motivated workforce and enhanced
organizational performance. These strategies include good and regular monthly
remuneration. packages, workers participation in decision-making, policies that
bothered on job security and provision of appropriate incentives that favoured
welfare of employees' families. The study recommended that for organizations to
have in their employment highly motivated workforce and retention of competent
employees for performance there is the need for proper implementation of staff
retention strategies.
Keywords
JA Political science (General), JZ International relations