Influence of compensation on employee retention at Jubilee Insurance Company of Kenya Limited
Mwangi, Henry K
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Companies offer compensation to help draw in and hold employees and in addition increment representative spirit and enhance job performance. Compensation plays an important role since it‟s at the heart of the employment relationship, being vital to both employers and employees. Human resources management has a significant role in ensuring the company can retain the best employees in companies. Employees who are valued and compensated well by the organisations they work for get satisfaction and work for a longer time. Most insurance firms are facing professional challenges where by the staff complement needs to embrace professionalism by doing the right thing in addressing customer demands to minimize on fraud which was indicated to be a major risk area. Jubilee Insurance Company Kenya has set up different types of compensation are expected to pull in and hold the most qualified staff. The purpose of this study was to find out how compensation influence on employee retention at Jubilee Insurance Company Limited, Kenya. This study adopted a descriptive survey research design. Additionally, the target population for this study was made up of all permanent employees of Jubilee Insurance Company Limited, Kenya. Out of 843 employees, a sample size of 168 respondents were selected. Questionnaires were used to gather primary data from the respondents because they were time saving and convenient for obtaining a wide range of information. Descriptive statistics and inferential statistics were used to analyse data and presented by use of frequency distribution tables, percentages, mean and standard deviation (SD). The study concluded that salaries and wages, incentives, employee benefits, bonuses, commissions and additional privileges influence employee retention. The study endorses the company should offer better fringe benefits, increase salary, a good reward scheme, staff participation in decision making, and incentives to motivate staff in order to enhance employees retention at Jubilee Insurance Company Limited.
University of Nairobi
RightsAttribution-NonCommercial-NoDerivs 3.0 United States
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