The Influence Of Training And Development Practices On Employee Retention At Madison Insurance Company Limited, Head Office, Nairobi, Kenya

Abstract

The role performed by training and development is of great importance in achievement of organizations’ goals because it enhances efficiency and effectiveness not only for the organization but for the employees too. Similarly, it plays a critical role of improving employees’ performance in the firm. Among many assets that a company possesses, HR is one of them, so their role cannot be underestimated. This current study sought to establish the influence of training and development practices on employee retention at Madison Insurance Company Limited, Head Office Nairobi, Kenya. A descriptive cross-sectional survey was used in this study. The study targeted all employees at Madison Insurance Company Limited, head office in Nairobi, who are 132 in total. This was a census study where all employees of the head office were the target respondents. A questionnaire was used as data collection tool. Data was processed using SPSS version 23.0 where quantitative data was analyzed using descriptive methods. Regression analysis was done to establish the influence of training and development practices on employee retention at Madison Insurance Company Limited, Head office Nairobi, Kenya. Presentation of the analyzed data was done in tables and figures. Results obtained established that training and development (T&D) positively influence retention of employees at Madison Insurance Company Limited, Head Office Nairobi Kenya. The study therefore concludes that T&D practices positively and significantly influences retention of employee. There is need to increase T&D practices in the organization. Various forms of training matching the needs of employees this will increase employee motivation which in turn increases their rate of retention. The study recommends management of Madison insurance company to have customized interventions, like sessions on coaching that are focused on covering the personal needs of workers and personal deficiency gaps. The interactive coaching activities help in motivating and encouraging workers towards making decisions and taking initiatives; this will improve employee confidence and enhance their potential and capacities