The Relationship between Selected Compensation Factors and Employee Retention

Diana Iyvenee, Sebaster (2021) The Relationship between Selected Compensation Factors and Employee Retention. [Final Year Project Report] (Unpublished)

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Abstract

Every company should make concentrated effort to meet employee needs and desires especially in the terms of compensation packages. The issues on identifying the proper compensation factors in order to increase on employee retention still critically need to be discuss. The purposed of this study is to investigate on the relationship between selected compensation factors and employee retention in one of the private company that is consider in logistic and ports industry in Kuching, Sarawak. There are 67 respondents had participated with the study. Apart from that, the primary data collection is through the questionnaire develop with the Google form. A 5-Likert Scale was utilized to measure the items used for the study. For the descriptive statistic was used to describe on the demographic background of the respondent whereas Pearson Correlation Coefficient was conducted to test on the correlation between the independent variables (salary, performance based-bonus, allowances and non-statutory benefit) and dependent variable (employee’s retention). Multiple Linear Regression test is used to identify on the most dominant compensation factor that can affect the employee retention. The findings had proven that salary, performance based-bonus, allowances and non-statutory benefit is positively correlated with employee retention. Meanwhile, salary is reveal to become the most dominant compensation factor that has effect on employee retention. In this study, it also provides the Human Resource practitioners with more information and knowledge on how to increase the employee retention rate through suitable compensation factors especially for those that are working in logistic and ports industry. For future researcher, they can conduct similar study through qualitative method, increase the sample size and explore on others compensation factors that can effect on the employee retention to filling up the research gap.

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