USING STAFF RETENTION STRATEGIES TO SECURE A HAPPIER AND MORE PRODUCTIVE WORKFORCE

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Abstract

This study assesses managerial perceptions of various aspects of staff retention (its focus, retention strategies and organizational practices that enhance retention, staff retention strategies and employee turnover and performance respectively) in a target, private sector organization. Biographical influences were also evaluated. A sample of 42 managers was drawn using disproportionate stratified random sampling. Data was collected using a self developed, precoded questionnaire whose reliability was assessed using Cronbach’s Coefficient Alpha. Data was analyzed using descriptive and inferential statistics. The results indicate that the target organization places on a moderate degree of emphasis on staff retention strategies, which are only focussed on retaining best performers and predominantly uses opportunities for promotion and performance bonuses followed by career growth, learning and development as strategies for staff retention. The main organization practice that may encourage retention is employees having clarity of what is expected of them. An inverse relationship between staff retention strategies and employee turnover and, a direct relationship between retention strategies and performance was noted. Specific biographical influences where also noted. Recommendations to enhance staff retention are presented.

Keywords: Staff Retention Strategies, Opportunities for Promotion, Performance Bonuses, Fair and Competitive Pay, Employee Turnover

How to cite this paper: Ntshangase, S. C., & Parumasur, S. B. (2013). Using staff retention strategies to secure a happier and more productive workforce. Corporate Ownership & Control, 10(3-4), 413-425. https://doi.org/10.22495/cocv10i3c4art1