Citation:

Iwo Sokari Samuel-Ikiroma, Prof. J.M.O. Gabriel, Dr. C.S. Biriowu. "Mobility Benefits and Employee Retention in Tier-One Deposit Money Banks in South-South, Nigeria" International Research Journal of Economics and Management Studies, Vol. 2, No. 4, pp. 345-353, 2023.

Abstract:

This investigation looked at the connection between mobility benefits and employee retention in tier-one deposit money banks in South-South Nigeria. The cross-sectional research survey design was used in the course of the research. A systematic questionnaire was used to collect primary data. 135 workers from the regional offices of five tier-one deposit money banks in Port Harcourt, which serves as a headquarters for the coordination of all bank operations in the regions of Rivers, Delta, Edo, Bayelsa, Akwa Ibom, and Cross Rivers, made up the study's population. Using the Taro Yamane sample size determination formula, the sample size of 101 was established. The Cronbach Alpha coefficient was used to determine the tool's reliability, and all of the items had a score higher than 0.70. Using the Spearman's Rank Order Correlation Coefficient, the hypotheses were investigated. The tests were run using a significance threshold of 0.05. Results demonstrated that there is a strong correlation between mobility benefits and employee retention in tier-one deposit money banks in South-South, Nigeria. Thus, the study concludes mobility benefits positively enhance employee retention in tier-one deposit money banks in SouthSouth Nigeria. Therefore, it was recommended that deposit money banks provide comprehensive mobility benefit packages catering to employees' diverse needs. This can include assistance with relocation expenses, housing allowances, transportation allowances, and support for visa processing for international assignments.

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Keywords:

Mobility Benefits, Employee Retention, Job Stability, Promotion Opportunities.