The Effect Of Reward Management On The Retention Of Employees: The Case Of Oromia International Bank (OIB)
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Date
2017-06-02
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Addis Ababa University
Abstract
Reward management is related to factors that can indulge the unsatisfied needs of
employees. Objectives include examining the effect of reward management on the
retention of employees; in Oromia International Bank of Ethiopia. Five hypotheses were
formulated to address the objectives. Data were collected from sample size of 298
respondents through reward attitude survey adopted from Armstrong (2010) and a selfadministered
questionnaire and interview. The study also uses OIB’s annual report as a
secondary source. The study is a descriptive which used correlation and regression
analyses. The analysis is conducted using SPSS version 20 and the results found that
reward attitude, organizational climate, job satisfaction, employee commitment are
strongly related while employee well-being are not significantly related. Finally the
study recommends that OIB should work on the perception of employees toward the
company reward system through communication and in addition the bank employees’
well-being should be reinforced with a knowledge and skill that would enable them to
accomplish their activities in the desired way. Finally the study suggests that further
research should be conducted in different sector to avoid peculiarity of a single industry
and also to consider other sectors different strategic approaches to ensure the observed
association consenting for comparison and generalization to a broader population on
the effect of reward management on employee retention.
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Keywords
Reward management, Employee retention