Abstract

This research addresses the critical issue of employee retention in private companies in Phnom Penh, Cambodia, specifically focusing on compensation practices. The study employs quantitative and qualitative methods, utilizing a cross-sectional approach to collect data from a sample of 335 employees. The findings reveal that many employees view their compensation package as a key factor influencing their decision to remain with their current company. However, a substantial proportion of employees expressed dissatisfaction or neutrality towards their compensation packages, signaling potential areas for improvement. The research contributes to a deeper understanding of employee preferences regarding compensation packages, thereby aiding businesses in enhancing job satisfaction and loyalty. Furthermore, the study offers practical recommendations for improving compensation practices, including enhancing transparency, conducting regular market analyses, addressing employee concerns, reassessing compensation strategies, investing in employee satisfaction, and considering employee feedback. In essence, this research comprehensively analyzes compensation practices and their impact on employee retention, offering valuable insights and actionable recommendations for private companies in Phnom Penh, Cambodia.

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.