INFLUENCE OF REMUNERATION ON EMPLOYEE RETENTION IN COMMERCIAL BANKS IN KENYA: A CASE OF KENYA COMMERCIAL BANK

Joyce Kamau, Dr. Mary Omondi

Abstract


The study sought to establish the influence of remuneration on employee retention at Kenya Commercial Bank. The study adopted a descriptive research design. The study targeted all the 184 employees of Kenya commercial bank at the headquarter. The study’s sampling frame was the list of all the employees of Kenya commercial bank at the headquarters comprising of 45 human resource employees, 40 finance employees, 35 customer care employees, 30 credit employees and 34 from the IT department. Proportionate sampling and simple random sampling was then used to select the respondents from the sampling frame. The study used both primary data and secondary data. Primary data collected using questionnaires. After data collection, the filled-in and returned questionnaires were edited for completeness, coded and keyed into computer for analysis. The researcher used descriptive statistics where frequencies and Percentage of responses were obtained. The measures of dispersion such as the mean and standard deviations were used. Tables and other graphical presentations such as bar charts, histogram, grouped frequency distributions and pie charts as appropriate were used to present the data collected for ease of understanding and analysis. The study found that remuneration affect employee retention at Kenya Commercial Bank. Good remuneration program motivates employees in an organization. Adequate reward system in the organization would reduce the employee turnover rate. Employees’ reward does not reflect employees’ contributions in this organization. The study recommends that the organization should provide adequate reward system in the organization to reduce the employee turnover rate.

Key Words; Remuneration on Employee Retention


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