Impact of Training and Development on Employee Retention on an Employee
CHAPTER ONE
Objectives Of The Study
The main objective of the study is to critically examine the impact of training and development and development on employee retention in an organization. Specific objectives of the study are:
1.To identify the factors affecting high employee turnover in an organization.
2.To identify the effect of training and development, its type and duration on employee retention in an organization.
3.To identify the extent by which management support and rewards affect employee retention.
CHAPTER TWO
LITERATURE REVIEW
INTRODUCTION
Our focus in this chapter is to critically examine relevant literature that would assist in explaining the research problem and furthermore recognize the efforts of scholars who had previously contributed immensely to similar research. The chapter intends to deepen the understanding of the study and close the perceived gaps.
CONCEPTUAL FRAMEWORK
Concept of Employee Retention
Employee Retention involves taking measures to encourage employees to remain in the organization for the maximum period of time (Griffeth & Hom 2001). Organizations are facing a lot of problems in employee retention these days. Hiring knowledgeable people for the job is essential for an employer. But retention is even more important than hiring. There is no dearth of opportunities for a talented person. There are many organizations which are looking for such employees. If a person is not satisfied by the job he’s doing, he may switch over to some other more suitable job. In today’s environment it becomes very important for organizations to retain their employees. The reason may be personal or professional (Fombrun & Shanley, 1990). These reasons should be understood by the employer and should be taken care of. Most organizations are becoming aware of these reasons and are adopting many strategies for employee retention. The top organizations are on the top because they value their employees and they know how to keep them glued to the organization. Employees stay and leave organizations for various reasons.
CHAPTER THREE
RESEARCH METHODOLOGY
INTRODUCTION
In this chapter, we described the research procedure for this study. A research methodology is a research process adopted or employed to systematically and scientifically present the results of a study to the research audience viz. a vis, the study beneficiaries.
CHAPTER FOUR
DATA PRESENTATION AND ANALYSIS
INTRODUCTION
This chapter presents the analysis of data derived through the questionnaire and key informant interview administered on the respondents in the study area. The analysis and interpretation were derived from the findings of the study. The data analysis depicts the simple frequency and percentage of the respondents as well as interpretation of the information gathered. A total of eighty (80) questionnaires were administered to respondents of which only seventy-seven (77) were returned and validated. This was due to irregular, incomplete and inappropriate responses to some questionnaire. For this study a total of 77 was validated for the analysis.
CHAPTER FIVE
SUMMARY, CONCLUSIONS AND RECOMMENDATIONS
SUMMARY
The study’s overall objective is to examine the impact of training and development and development on employee retention in an organization using Firstbank branches in umuahia, Abia State as case study. The study identified the factors affecting high employee turnover in an organization, identified the effect of training and development, its type and duration on employee retention in an organization, and identified the extent by which management support and rewards affect employee retention.
The research adopted the survey descriptive design and with the aid of convenience sampling method, the researcher conveniently selected eighty (80) participant who are management staff of Firstbank, Umuahai, Abia state. Self- structure questionnaire was issued to the respondent of which seventy-seven (77) responses were retrieved and validated for the study. The study made use of of descriptive analysis and inferential statistics where data from field survey was analyzed using simple percentage, mean and standard deviation presented in frequencies and tables. Hypothesis test was conducted using ANOVA Statistical Package for the Social Sciences (SPSS v.23).
CONCLUSION
Retaining top talent remains a primary concern for many organizations today. Critical analysis of workforce trends points to an impending shortage of highly-skilled employees who possess the requisite knowledge and ability to perform at high levels, meaning that organizations failing to retain high performers will be left with an understaffed, less qualified workforce that ultimately hinders their ability to remain competitive. This research emphasizes the need for paying attention of companies on the training and development programs as a means of enhancing the employee commitment and retention. Through identifying factors of training and development program which significantly affect the commitment and retention, companies in the apparel industry can address those significant factors. This would ultimately help organizations to effectively utilize their resources and sustain the completive market place.
Findings of the study reveals that
- factors affecting high employee turnover in an organizationincludes Lack of job, security and concerns about the future of the firm, poor learning and development opportunities, poor remuneration and benefits, culture, rigidity and lack of innovation.
- Effects do training and development and development have on employee retentionincludes: addressing the needs of workers and enhances job satisfaction, equip staff in coping with their job role and new challenges, improve employee’s commitment to their job role, and enable the staff to innovate new strategies to execute the task
- Employee benefits affect employee retention by addressing the needs of workers and enhances job satisfaction, strengthens the relationship between the employee and the employer, boost employee motivation and participation, makes employees feel supported and it helps in retaining qualified workforce and attracting new talents.
The study therefore concludes after the hypothetical test that There is a significant relationship between training and development on employee retention in an organization.
RECOMMENDATION
From the findings of the study, the following critical steps should be taken:
- Successful banking operation is predicated on employees that are motivated, energetic and focused. A dissatisfied employee cannot work effectively to achieve the organizational goals. Therefore, banks should value their employees as assets and not liabilities. They should embark on paying valued salaries and provide good training facilities foreffectiveperformance.
- The findings equally shows paucity of recent studies on employee retention. Banks in Nigeria should therefore strengthen their research and development department to providecapacityenhancementand developmentof staff.
- The study recommended that, banks should discourage outsourcing in their system. The use of contract and outsourced staff for the purpose of building a strong trust mechanism should be discouraged. The contract or outsourced staff provide cheap labour. Cheap labour could affect thelevel of trust and trust when undermined could create room for dishonest practices and fraud which inevitably leads to bank.
REFERENCES
- Allen, N. J., & Meyer, J. P. (2016). A cross-national perspective on managerial problems in a non western country. The Journal of Social Psychology, vol. 136, no. 2, pp. 165-172.
- Altmann, R. (2015) A new vision for older workers, retain, retrain and recruit. Department for Work and Pensions, London.
- Aruna, M. and Anitha, J. (2015) ‘Employee retention enablers: generation Y employees’. SCMS Journal of Indian Management, 12(3): p. 94-103.
- Ballot, G., Fakhfakh, F. and Taymaz, E. (2006) ‘Who benefits from training and R&D, the firm or the workers?’ British Journal of Industrial Relations, 44 (3): p. 473-495.
- Bashir, S. and Khattak, H. R. (2008) ‘Impact of selected HR practices on perceived employee performance, a study of public sector employees in Pakistan’. European Journal of Social Sciences, 5 (4): p. 243-252
- Brown, J. (2002) ‘Training needs assessment: A must for developing an effective training program’. Public Personnel Management, 31(4): p. 569-574.
- Bryant, P.C. and Allen, D.G. (2013) Compensation, Benefits and Employee Turnover: HR Strategies for Retaining Top Talent. Compensation and Benefits Review, 45(3): p.171-1
