Employee Retention Factors: The Perspective of Employees and Managers

Abstract

Objective: The article identifies and explores differences in how employees and managers assess the importance of retention factors. It also looks at predictors of the importance employees attach to these factors. Research Design & Methods: Literature studies and quantitative empirical research were carried out with CAWI. The research questionnaire included a self-designed WCR form and the MQSS-JSS scale. Findings: Employees and managers differ in how they assess the importance of retention factors. Managers tend to underestimate the importance of individual factors. All of the predictors studied – company size, job satisfaction, age, gender and seniority – proved important in assessing the importance of the factors tested. Implications / Recommendations: Research results indicate the importance of personalisation in retention strategies. Effective retention strategies should take the predictors of the importance of specific factors for employees into account. Contribution: Managers’ tendency to underestimate the importance of retention factors has been revealed and it has been shown that the individual and organisational features tested are important predictors of factor selection in retention strategies.

Keywords

• retention factors
• retention management
• assessment of the importance of retention factors
• retention strategies