Employee-Retention-Practices-and-Organizational Productivity in-Savings-and-Credit-Co-Operative Societies-in-Kericho-County, Kenya
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Organization productivity in Savings and Credit Co-operative Societies faces high challenges in efficiency, effectiveness, service deliver and growth. The study investigated the employee retention practices on productivity of the organization. The study specific objectives were; to determine the influence of training, to examine the influence of job satisfaction, to investigate effect of career development and to analyze effect of compensation on organizational productivity of Savings and Credit Co-operative Societies in Kericho. This research was supported by wanted and unwanted theories, antecedent job turnover theory and Vroom expectancy theory. Descriptive research design was utilized in the study. It targeted Imarisha, Ndege Chai and Kenya Highlands Savings and Credit Co-operative Societies with a targeted population of 601 respondents. A sample of 180 respondents were selected using stratified random sampling technique. Semi-structured questionnaires were used to collected data then analyzed using descriptive and inferential statistics with aid of Statistical Package of Social Science. Mean and standard deviation were interpreted. It utilized the multiple linear regression model. The findings indicated that training was enhanced in the organization through seminars, education advancement and short course were crucial in employee retention. Training done in the organization within planning period was crucial in organization productivity. Training was found to have significant effect on organization production. Job satisfaction were done in the organization through work arrangement, renovation and improvement of work environment which had significant effect productivity of the organization. Job satisfaction was found to be significant on organization productivity. The organization also ensure that career development through coaching, job orientation and rotation as well as seminars and promotion influenced organization ability in job retention. Therefore, career development had positive significant effect on organization productivity. The findings on compensation, indicated that the organization used reward system that ensured employee retention. Financial benefit, bonus and incentive also improve productive as employee retention practice. Hence compensation had significant effect on organization productivity. The study concluded that training, job satisfaction, career development and compensation had positive significant effect on organization productivity. It recommended that organization should consider review compensation, ensure mentoring and training are done often as well as improve the working environment and condition to ensure high productivity. Savings and Credit Co-operative Societies, financial and government would benefit from the outcome of this research for policy making, legislation and establishing appropriate strategies for sustainable development. Researchers and scholars would be able to utilize the findings for further studies and literature review.