EFFECTS OF REWARD MANAGEMENT PRACTICES ON EMPLOYEE RETENTION IN TELECOMMUNICATION FIRMS IN KENYA
International journals of Economics , Commerce and Management.
The most perpetual challenge in most organizations today is lack of a well-structured reward management and employee retention program. This has heightened the need for reward management programs in order to achieve employee retention in Telecommunication firms. The objective of the study was to determine the effects of reward management practices on employee retention in Telecommunication firms in Kenya. This study was informed by Expectancy Theory. Explanatory research design guided the study. The target population of this study was 519 employee of Telecommunication firms. The sample size was 226 respondents. The data was collected using self administered questionnaires. The data was analyzed using both descriptive and inferential statistics using SPSS 22. From the model, (R2 = .663) shows that reward management practices account for 66.3% variation in employee retention in telecommunication firms. There was a positive significant relationship between reward management practices and employee retention in telecommunication firms (β1=0.751 and p<0.05). Therefore, a unit increase in reward management practices led to an increase in employee retention in telecommunication firms. The study concludes that there is strong link between employee reward management practices and retention in telecommunication firms. The results of this study enabled a better understanding of the relationship between employee retention and reward management practices in telecommunication firms. Reward management have a high effect on employee performance such that the more efficiently an organization manages it rewards, the better the employees will perform. The study recommends that mobile phone services should now focus more on nonmonetary rewards such as shorter working week; more work life balance and so on so that employees may not suffer fatigue and boredom due to routine.
Reward,, Retention, Management, Practices, ,, Employee, Telecommunication