Compensation, Employees Job Performance and Retention among Private Companies

Abstract

This study presented a comprehensive analysis of employee demographics, compensation, job performance, and retention within the hospitality industry for the year 2023 in Bacolod City, Philippines. The majority of respondents were identified as holding doctorate degrees, working in supervisory roles for 1 to 5 years, and primarily engaged in contractual or casual positions in accredited pension houses. The research highlighted that while private companies in the industry offered a variety of wages and benefits, there was potential for further enhancement. Compensation levels were generally high across different categories, emphasizing the positive impact of factors such as position and type of accommodation. Job performance was rated as outstanding, showcasing the exceptional efforts of employees. Moreover, employee retention was perceived as outstanding, reflecting a strong sense of dedication and commitment among the workforce. The study concluded by underscoring the interconnectedness of compensation, job performance, and retention, offering valuable insights for industry stakeholders to optimize employee satisfaction and productivity within the dynamic hospitality sector.