| dc.description.abstract | Human resource is undeniably one of the key resources in any form of an organization. Within
operational expenses of a company, human resource related costs form a huge chunk of the total
costs indicating the amount of cash resources organizations spend to have people in their payroll.
Further, to indicate the importance of human resource, scholars and entrepreneurs have defined
employees as human capital while knowledge management has been introduced in many
organizations in order to preserve the knowledge and skills generated by staff. In order to retain
valuable human resource and their embodied skills and knowledge, organizations employ various
welfare practices and strategies to protect exit of staff. The overall objective of the study was to
analyze the effects of staff welfare practice on staff retention at Kenya post office savings bank.
The following specific objectives were formulated; to establish the effect of staff loans on staff
retention, to identify the role of bonus salary on staff retention, to establish the implication of
long service awards on staff retention, to identify the most and least popular staff welfare facility
among the staff, and to establish the perceptions of staff regarding the adequacy of welfare
facilities offered by the Bank. The researcher used a descriptive research design which is often
used in survey research. The estimated target population in the area of interest was 300. The
sample was drawn from the 300 employees across its branch network within the central Business
District, Nairobi through stratified random sampling in order to come up with a sample size of
60. Questionnaires were used as the research instruments of data collection. Data analysis was
done by the use of descriptive statistics and presented in form ~frequency tables, and
percentages. The response rate was 90% where out of the issued 60 q~estionnaires 54 were
returned and considered adequate to commence the analysis. Findings established that the effects
of staff loans en staff retention at Postbank include staff loans are the most influential staff
benefit to retention, staff loans with concessions improve staff retention, staff loans lock
employees to Postbank even when they would want to leave for better career, and that if staff
loans were eliminated many employees would opt to leave the bank. The effects of bonus salary
on staff retention in the organization include bonus salary are the most influential staff benefit to
retention, bonus salary lock employees to Postbank even when they would want to leave for
better career, if bonus salary were eliminated many employees would opt to leave the bank, and
that if the range of bonuses was increased, staff morale will be better. The reasons why
employees leave the organization for another include hiring practices, management style, lack of
competitive compensation system, lack of recognition, toxic workplace environment, and lack of
job security. The most popular staff welfare facilities available for Postbank employees include
car loans, bonus salary, long service awards, mortgage loans, and salary advances. It was
recommended that the organization should ensure that there is adequate allocation of resources;
the organization should exercise a healthy hiring practice so as to ensure cooperation between
employees of the various departments in the organization, and establish an implementation team
that is responsible with overseeing those organizational procedures are observed to the latter. The
researcher suggested that further research should be carried out on the effects of employee
reward systems on organizational performance | en_US |
