Abstract:
ABSTRACT
In today‘s competitive environment Human Resource Management has become a
valuable part of organizations including private sector organizations, with issues of
motivation and retention being key to overall corporate performance. The main
purpose of the research was to examine the effect of motivation on retention of
workers in the private sector, using Zoomlion Company Ltd as case study. Data was
obtained from a total of 85 staff of the company using structured questionnaires to
determine the elements of motivational packages, retention strategies, organizational
culture, job satisfaction and career plans. The results showed that salary and monetary
compensation, job security, good safety measures, employee assistance program and
health benefits are the highest motivators for employees. Similarly, salary
compensation emerged as the most important retention factor followed by health and
related benefits and education and training opportunities. The findings of the study
reveals that workers in the private sector are more satisfied with the general
conditions of work such as hours worked each week, flexibility of schedules as well
as salary and benefits. However they are more dissatisfied with the opportunities for
promotion, recognition of work accomplished and job security. Also, most of the
workers had plans to leave within 5 years, due to factors such as lack of opportunities
for promotion, lack of job security, no recognition for work accomplished, failure to
initiate an effective career development and retirement plan. The study concludes that
it is only a comprehensive blend of intrinsic and extrinsic motivational variables that
can enhance retention and reduce the high rate of employee turnover in our various
organisations. It is recommended that management of the private sector pay much
attention to the career plans as well as provide motivational packages for their
workers to help retain them.
