Employee Benefits and Employee Retention in Commercial Banks in Akwa Ibom State, Nigeria

Abstract

This study investigated employee benefits and employee retention in commercial banks in Akwa Ibom State, Nigeria. The survey research design was adopted and this involved administration of copies of questionnaire on employees of case banks who served as respondents. The study’s population was 497 while the sample size was 384 determined using Cochran’s sample size determination formula. The sampling method employed in the study was random sampling. The questionnaire was used in data collection. Data obtained in the study were analyzed using simple regression method. The outcome of this research showed that employee benefits (Beta =0.184, t=2.921, p<0.05) has a significant influence on employee retention in commercial banks in Akwa Ibom State. Employee benefits can determine employee retention in commercial banks in Akwa Ibom State.The study makes contribution in the area of employing employee benefits in retaining the services of high performing and experienced employees in banks. The limitation of this study is that only one state was considered in the survey