The influence of reward (monetary and non-monetary) toward employee’s intention to leave in financial institution in Klang Valley

The influence of reward (monetary and non-monetary) toward employee’s intention to leave in financial institution in Klang Valley

The rewards package is one of the crucial factors to the organization to attract, retain and motivate their employees. Malaysia Financial and Banking Sector faced the high turnover rate which is 27.84%, compared to Malaysia turnover rate which is around 12 to 14 percent. Therefore, this study propos...

Full description

Saved in:
Bibliographic Details
Main Author: Hairul Effendy, Hamdan
Format: Thesis
Language:eng
eng
Published: 2013
Subjects:
HF5549-5549.5 Personnel Management
Employment
Online Access:https://etd.uum.edu.my/5043/1/s810816.pdf
https://etd.uum.edu.my/5043/2/s810816_abstract.pdf
Tags: Add Tag
No Tags, Be the first to tag this record!
id my-uum-etd.5043
record_format uketd_dc
institution Universiti Utara Malaysia
collection UUM ETD
language eng
eng
advisor Mohd Isa, Mohd Faizal
topic HF5549-5549.5 Personnel Management
Employment
spellingShingle HF5549-5549.5 Personnel Management
Employment
Hairul Effendy, Hamdan
The influence of reward (monetary and non-monetary) toward employee’s intention to leave in financial institution in Klang Valley
description The rewards package is one of the crucial factors to the organization to attract, retain and motivate their employees. Malaysia Financial and Banking Sector faced the high turnover rate which is 27.84%, compared to Malaysia turnover rate which is around 12 to 14 percent. Therefore, this study proposed to identify the relationships between rewards (monetary and non monetary) to intention to leave in Financial Institution in Klang Valley. The quantitative study through questionnaire was distributed to employees who has been employed for at least 2 years under financial institution. Descriptive and inferential statistics are used to analyze the research data. Research findings showed that there were moderate weak negative correlations between rewards and intention to leave. However, regression analyses revealed that monetary and non monetary rewards described almost 27% variances to intention to leave. Results suggest that the greater monetary and non monetary rewards the lower intention to leave among their employees
format Thesis
qualification_name masters
qualification_level Master's degree
author Hairul Effendy, Hamdan
author_facet Hairul Effendy, Hamdan
author_sort Hairul Effendy, Hamdan
title The influence of reward (monetary and non-monetary) toward employee’s intention to leave in financial institution in Klang Valley
title_short The influence of reward (monetary and non-monetary) toward employee’s intention to leave in financial institution in Klang Valley
title_full The influence of reward (monetary and non-monetary) toward employee’s intention to leave in financial institution in Klang Valley
title_fullStr The influence of reward (monetary and non-monetary) toward employee’s intention to leave in financial institution in Klang Valley
title_full_unstemmed The influence of reward (monetary and non-monetary) toward employee’s intention to leave in financial institution in Klang Valley
title_sort influence of reward (monetary and non-monetary) toward employee’s intention to leave in financial institution in klang valley
granting_institution Universiti Utara Malaysia
granting_department Othman Yeop Abdullah Graduate School of Business
publishDate 2013
url https://etd.uum.edu.my/5043/1/s810816.pdf
https://etd.uum.edu.my/5043/2/s810816_abstract.pdf
_version_ 1747827850449256448
spelling my-uum-etd.50432022-10-06T07:01:39Z The influence of reward (monetary and non-monetary) toward employee’s intention to leave in financial institution in Klang Valley 2013 Hairul Effendy, Hamdan Mohd Isa, Mohd Faizal Othman Yeop Abdullah Graduate School of Business Othman Yeop Abdullah Graduate School of Business HF5549-5549.5 Personnel Management. Employment The rewards package is one of the crucial factors to the organization to attract, retain and motivate their employees. Malaysia Financial and Banking Sector faced the high turnover rate which is 27.84%, compared to Malaysia turnover rate which is around 12 to 14 percent. Therefore, this study proposed to identify the relationships between rewards (monetary and non monetary) to intention to leave in Financial Institution in Klang Valley. The quantitative study through questionnaire was distributed to employees who has been employed for at least 2 years under financial institution. Descriptive and inferential statistics are used to analyze the research data. Research findings showed that there were moderate weak negative correlations between rewards and intention to leave. However, regression analyses revealed that monetary and non monetary rewards described almost 27% variances to intention to leave. Results suggest that the greater monetary and non monetary rewards the lower intention to leave among their employees 2013 Thesis https://etd.uum.edu.my/5043/ https://etd.uum.edu.my/5043/1/s810816.pdf text eng public https://etd.uum.edu.my/5043/2/s810816_abstract.pdf text eng public masters masters Universiti Utara Malaysia Accenture (2001). The high performance workforce: separating the digital ecomony’s winners from loser. USA. Agarwal, N. C. (1998). Reward Systems: Emerging Trends and Issues. Canadian Psychology. 39(1), 60-72. Ahlrichs, N.S. (2000). Competing for talent. Key recruitment and retention strategies for becoming an employer of choice. Palo Alto, CA: Davies-Black Publishing. Aondoaver Ucho, Terseer Mkavga Ike E. Onyishi (2012). Job Satisfaction, Gender, Tenure, and Turnover Intentions among Civil Servants in Benue State. Interdisiplinary Journal of Contemporary. Vol. 3 (11). Atif Anis (2010). Employee retention relationship to training and development: A compensation perspective. African Journal of Business Management. Vol 5 (7). Pp. 2679-2685. Bamberger, P., & Meshoulam, I. (2000). Human resource strategy: Formulation, implementation, and impact Thousand Oaks, CA: Sage. Bokemeier, J.L., & Lacy, W.B. (1987). Job values, Rewards and Work conditions as factors in Job Satisfaction among Men and Women. The Sociological Quarterly, 28(2), 189-204 Chen, G., Polyhart, R. E., Thomas, H. C., Anderson, N., & Bliese, P. D. (2011). The power of momentum: A new model of dynamic relationships between job satisfaction change and turnover intentions. Academy of Management Journal, 54(1), 159-181. Choi Sang Long, Panniruky Perumal and Musibau Akintunde Ajagbe (2012). The Impact of Human Resource Management Practices on Employees’ Turnover Intention: A Conceptual Model. Interdisciplinary Journal of Contemporary Research in Business Damayanti, R. (2011). The relationship between retention factors and career commitment. Master Thesis, UUM, Sintok. Development Dimensions International, Inc. report (DDI) (2001). Retaining Talent: A Benchmarking Study - Full Report. USA. Eskildesn, J.K. and M.L. Nussler (2000). The managerial drivers of employee satisfaction and loyalty. Total Quality Management. 11 (4). Ghazanfar, F, Chuanmin, S, Khan, M.M & Bashir, M. (2011). A Study of Relationship between Satisfactions with Compensation and Work Motivation. International Journal of Business and Social Science. Vol. 2(1), pp: 120–131. Fg Netswera, Em Rankhumise and Tr Mavubdla (2005). Employee retention factors for South African higher education institutions-case study. South African Journal of Human Resource Management, Vol. 3 (2). Fishbein, M., & Ajzen, I. (1975). Belief, attitude, intention and behaviour: An introduction to theory and research. Reading Mass,: Don Mills, Ontario: Addison-Wesley Pub. Co. Frank Shostak (2000). The mystery of the money supply definition. The Quarterly Journal of Austrian Economics Vol. 3(4). Pp: 69-76 Goodin, H. J. (2003). The nursing shortage in the United States of America: An integrative review of the literature. Journal of Advanced Nursing, 45(4), 335-350 Hafiz, N.S, Shah, S.S., Jamsheera, H, & Zalan, K. (2011). Relationship between rewards and employee’s motivation in the non-profit organizations of Pakistan. Business Intelligence Journal, Vol. 4 (2) Hasselhorn, H.M., Tackenberg, P. & Muller, B.H. (2003). Working conditions and intent to leave the profession among nursing staff in Europe. Career Development International, Vol. 14 (7). Pp. 616–635 Hassan (2010). Employee Retention as a Challenge in Leather Industry. Global Journal of Human Social Science, Vol. 11 (2). Hellman, C.M. (1997). Job satisfaction and intent to leave. Journal of Social Psychology, 137(6), 667-689. Hewitt Associates (2007). Strategies for Cost Management of the HR Function. USA. Irvine, D. M., & Evans, M. G. (1995). Job satisfaction and turnover among nurses: Integrating research findings across studies. Nursing Research. 44(4), 246-253. Jessica Zara Peterson (2009). Job stress, job satisfaction and intention to leave among new nurses. Doctor of Philosophy Graduate Department of Nursing Science. Khatri, Budhwar and Chong (2000). Employee turnover: bad attitude or poor management. http://www3.ntu.edu .sg/nbs/sabre/working_papers/12-99.pdf [retrived on 20 October 2013]. Koos Kotze and Gert Roodt (2005). Factors that affect the retention of managerial and specialist staff: an exploratory study of an employee commitment model. Journal of Human Resource Management, Vol. 3 (2), Pp. 48-55. Shoaib, M., Noor, A., Tirmiza, S.T. & Bashir, S. (2009). Determinants of employee retention in Telecom sector of Pakistan. Army Public College of Management Sciences (APCOMS), Ordnance Road, Rawalpindi. Mahdi (2012). The Relationship Between Job Satisfaction and Turnover Intention. American Journal of Applied Sciences. Vol. 9 (9), pp. 1518-1526 Maki Tei-Tominaga and Akiko Miki (2009). A Longitudinal Study of Factors Associated with Intentions to Leave among Newly Graduated Nurses in Eight Advanced Treatment Hospitals in Japan. Industrial Health 2010, Vol. 48(3), Pp: 305-16. Malhotra, N., Budhwar, P., and Prowse, P. (2007). Linking Rewards to Commitment: An Empirical Investigation of Four UK Call Centres. International Journal of Human Resource Management, Vol. 18 (12), Pp: 2095-2127 McKinsey, (2008). An Integrated Approach to HR Capacity Building. USA. Md Hashim (2011). The influence of reward system on employees performance among nonacademic staff in Masterskill University College of Health Sciences. UUM. Sintok. Mehrasa Heydarian and Soroosh Abhar (2011). Factors contributing to employees’ turnover intention. Centre for Continuing Education, SEGi University College, Kota Damansara, Malaysia. Mercer Human Resource Department Report. (2003). Mercer study raises red flags for employer pay and benefit plans. USA. Meyer, J.P., & Allen, N.J. (1991). A three component conceptualization of organizational commitment. Human Resource Management Review, Vol. 1, Pp: 61-89. Milkovich, George T., and Jerry M. Newman (2002). Compensation 7th Ed.. McGraw-Hill Irwin. Boston. Pp: 450. Mobley, W., Horner, S. and Hollingsworth, A. (1978) An evaluation of precursors of hospital employee turnover. Journal of Applied Psychology. Vol 63(4), 408-414. Muhammad Irshad (2010). Factors affecting employee retention: Evidence from literature review. Journal of Social Sciences, Vol. 4 (1). Muhammad Masroor Alam and Jamilha Fakir Mohammad (2009). Level of job satisfaction and intent to leave among Malaysian nurses. Business Intelligence Journal, Vol. 3 (1) Pp 123-137. Ng, T.W.H., & Feldman, D.C. (2007). Organizational embeddedness and occupational embeddedness across career stages. Journal of Vocational Behavior, Vol. 70 (2. Pp: 336–351. Nurita Juhdi, Fatimah Pa’wan and Ram Milah @ Simranpreet Kaur Hansaram (2012). Examining characteristics of high potential employees from employees’ perspective, International Journal of Arts & Sciences. Vol 5 (7). Pp. 175-186. ISSN 1944-6934. Pfeffer, J. (1998). Six myths about pay. Harvard Business Review. Pp: 38-57. Pia Tham (2006). Why Are They Leaving? Factors Affecting Intention to Leave among Social Workers in Child Welfare. British Journal of Social Work, Vol 37, Pp: 1225–1246. Mat Zin, S., Ngah, N.E., Ismail, R., Ibrahim, N., Abdullah, I.H.T. & Ahmad Tajuddin, N. (2012). Motivation Model for Employee Retention: Applicability to HRM Practices in Malaysian SME Sector. Canadian Social Science. Vol. 8 (5). Pp 8-12. Schuler, R.S. & MacMillan, I.C.(1984). Gaining competitive advantage through human resource management practices, Human Resource Management. Vol 23. Pp: 241-256. Seonghee Cho, Misty M , Johanson Priyanko (2009). Employees intent to leave A comparison of determinants. International Journal of Hospitality Management. Vol 28. Pp: 374–381. Shagufta Sarwar and James Abugre (2013). The Influence of Rewards and Job Satisfaction on Employees in the Service Industry. Swansea University, Wales, UK. Silbert, L.T. (2005). The effect of Tangible Rewards on Perceived Organizational Support. Management Sciences. http/:space.uwaterloo.ca/bitstream/10012/872/1/ lsilbert2005.pdf [retrived on 20 October 2013] Tower Perrin. (2003, January). Rewards: the not-so-secret ingredient for managing talent. (Retention). HR Focus. Vol 80(1). Pp:3-10 Towers Watson, (2011). Staying@Work Survey Report: A Pathway to Employee Health and Work Place Productivity. North American. Watson, Wyatt. (1999). Work 2000: Employee Commitment and the Bottom Line. Bethesda, MD: Watson Wyatt. USA. White, G. & Drucker, J. (2000). Reward Management: A critical text. The context of reward management, Routledge Studies in Employment Relations. London. Wiscombe, J. (2002). Rewards get results: Put away your cash. Workforce. Pp. 42-48. Yap. J.E., Bove L.L & Beverland M.B (2009). Exploring the effects of different reward programs on in-role and extra-role performance of retail sales associates, Baltic Journal of Management. Vol 12(3). Pp: 279-294. Zeti Akhtar Aziz (2008). 9th Bank Human Resources Conference, organized by the Indian Institute of Banking and Finance (IIBF): ‘Building Human Capital for Emerging Challenges’. Kuala Lumpur

Similar Items