Compensation system and employees’ retention in Hormuud Telecom Somalia
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Date
2011-02
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Kampala International University,College of Economics and Management
Abstract
The researcher studied compensation system and employees’
retention in Hormuud Telecom Somalia (HORTEL). The basic objectives
of this study were to find out the employee retention level of HORTEL,
to determine the relationship between performance-based pay and
employee retention of HORTEL and to examine the relationship
between seniority-based pay and the retention of the employees of
HORTEL.
Data was collected through questionnaire both from employees
and managers of HORTEL with total sample size of one hundred (100)
from accessible population of one hundred and twenty five (125).
Pearson Correlation was used for measuring the relationship between
compensation and employees’ retention, frequency tables were also
used.
Further the findings of the study showed that all of the
employees were male; and most of the employees were young in age
and most of them had bachelor degree. The findings also showed that
the employee retention level was high. The results of correlation
indicated a significant relationship between compensation system and
employees’ retention particularly performance-based pay and
employees’ retention.
Based on the results HORTEL should hire female employees and
HORTEL should send their employees for further study, because all of
its employees were male and significant numbers of the employees
were secondary certificate holders. HORTEL should maintain keeping
their employees and should be aware of the cost of turnover and it
should bring policy and strategies which will keep the company staff
longer. HORTEL managers should continue with paying for
performance. On the other hand managers of HORTEL should try to
increase the relationship of seniority-based pay and employee retention
by giving employees seniority based pay such as opportunities for
growth and development and retirement benefits to the retired employees
Description
Thesis Presented to the School of Postgraduate Studies and Research
Kampala International University Kampala, Uganda
In Partial Fulfillment of the Requirements for the Degree
Master of Business Administration
Keywords
Employees retention, Compensation system, Somalia