THE RELATIONSHIP BETWEEN COMPENSATION PRACTICES AND EMPLOYEE RETENTION IN MANUFACTURING COMPANY AT SIBU, SARAWAK
The purpose of this study was to study the relationship between compensation practices and employee retention in manufacturing company at Sibu, Sarawak. Data were collected from 31 employees from the manufacturing company in Sibu. The research was fully designed using quantitative research design...
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| Format: | Final Year Project Report |
| Language: | English English |
| Published: |
Universiti Malaysia Sarawak (UNIMAS)
2021
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| Subjects: | |
| Online Access: | http://ir.unimas.my/id/eprint/37499/1/Iqbal%20Arif%20Bin%20Ismail%20-%2024%20pgs.pdf http://ir.unimas.my/id/eprint/37499/5/Iqbal%20Arif%20ft.pdf http://ir.unimas.my/id/eprint/37499/ |
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| Summary: | The purpose of this study was to study the relationship between compensation practices
and employee retention in manufacturing company at Sibu, Sarawak. Data were collected from
31 employees from the manufacturing company in Sibu. The research was fully designed using
quantitative research design and close-ended questionnaire was the instrument used to collect
data. A five-point Likert scale was used to measure all the items in the questionnaires. Moreover,
Statistical Package for the Social Science (SPSS) was used as a tool to interpret and analyze the
collected data. The data were analysed using both descriptive and inferential statistics.
Descriptive statistics were first reported and it was followed by reliability analysis, normality
test, and hypothesis testing using Spearman Correlation. The findings have shown that there is a
significant and moderate positive relationship between bonus and employee retention while there
is a significant and strong positive relationship between base pay, allowances and fringe benefits
with employee retention. The outcome of this research is it acts as a guidelines for organization
and HR practitioner to review and understand how to improve and strengthen their compensation
policies to enhance employees’ contribution as well as retention. Organization need to be more
consciousness and awareness on compensation practices to attract and retain employees with
organization for a long period time. In future, researchers also encouraged to conduct similar
research through qualitative method, increased sample size and explore more factor that might
influence with employee retention to filling up the research gap |
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