Influence of Engagement Strategies on Employee Retention in Nigeria
This study seeks to assess the influence of engagement strategies on employee retention in Nigeria. Three (3) engagement strategies (meritocracy, employer branding, and succession planning) were assessed on employee retention. The descriptive survey design and primary data (questionnaires) were employed. The questionnaire was administered to 300 employees of oil and gas firms and data obtained were analyzed using both descriptive (mean) and inferential (Spearman Rank Correlation) statistical tools. Findings showed that the meritocracy strategy is the most ranked factor influencing employee retention; this implies that employees in the organization are rewarded on the basis of their contributions and value to the firm, which in turn influences their decision to stay with the organization. More so, while meritocracy is ranked the most significant factor affecting employee retention, it was found that engagement strategies (like employer branding and succession planning) significantly influence employee retention. On the basis of the findings, it was recommended that organizations can adopt meritocracy, employer branding, and succession planning as engagement strategies. For the sake of lucidity, management must communicate their succession planning to the employees and must constantly reward employees on the basis of their contributions to the firm.
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