The perceived influence of reward management practices in the retention of generation y employees at g4s Kenya limited

Abstract

The objective of the study is to investigate the perceived influence of reward management practices on retention of generation Y employees at G4S Kenya limited. The reward management factors that influence retention include; reward strategy, reward policies, job evaluation, salary survey, total rewards and grade & pay structure. Retention of generation Y employees in any organization is important as it contributes to the firms’ long-term viability and sustainable growth. Retaining generation Y employees ensures a steady stream of talented individuals joining the management ranks and being part of management succession plans. This study applied census survey methodology in a context of one organization. The target population was all generation Y employees at G4S. Questionnaires with structured questions with rating scales were administered online for purpose of collecting primary data. Quantative analysis was done using descriptive statistics such as percentages, means, standard deviation and tables to capture the results. The research revealed that generation Y employees at G4S perceive reward management practices as none competitive and does not encourage retention. Reward management practices, job satisfaction, organizational commitment, organizational culture, person organization fit and turnover intention all play a significant part in the retention of generation Y employees. Lack of understanding of reward management practices by generation Y employees at G4S Kenya does not support retention. Generation Y employees perceive reward as non-competitive. Many of the generation Y employees are not satisfied with the work environment, career advancement opportunities and work life balance. The findings recommend that reward management practices be enhanced and benchmarked to the market in order to enhance retention of generation Y employees at G4S Kenya.