THE IMPACT OF REWARD MANAGEMENT PRACTICES ON EXECUTIVE EMPLOYEES’ PERCEPTIONS TO RETENTION AT HAYLEYS ECO SOLUTIONS

Abstract

This study examined the impact of Reward Management Practices on Executive employees’ perceptions to retention at Hayleys Eco Solutions. The specific objectives were to analyze and identify the impact of the reward system on executive employees’ retention, to find out the main reasons for employees’ high turnover rate and find out the suggestions for reducing turnover and increasing the retention rate at Hayleys Eco Solutions. Theoretical literature focused on equity theory and expectancy theory. Empirical literature concentrates on reward systems including intrinsic rewards, extrinsic rewards and their effect on employee satisfaction. This study employed quantitative method research design and used a structured questionnaire to gather data. The target population of the study comprised 208 executives of Hayleys Eco Solutions. A sample of 138 executives was selected from the population using convenience sampling techniques. Collected data through the questionnaire was analyzed by aid SPSS software. The study found out that intrinsic rewards and extrinsic rewards have a positive impact with executive employee retention. Organization should consider these variables in order to enhance employee retention in Hayleys Eco Solutions.