Philippine E-Journals

Effects of Company Benefits on Retention of Employees in Company ABC

Reinier Banasihan | Ray Emmanuel Diaz | Jasper John Lumbao

 

Abstract:

This study determined the effects of company benefits on the retention of employees in Company ABC. The employees’ perceptions on the benefits they deem they are entitled to differ. Hence, the need for organizations to clearly analyze and understand the benefits that most employees should receive. Rice subsidy, health maintenance organization (HMO), meal allowance, transportation allowance, and group insurance were among the benefits offered to their employees by Company ABC. Out of 27 employees who served as respondents of the study, most of them were 21- 30-year-old, female, single, one to five years of service, had bachelor’s degree and two dependents. Primary data were collected through a constructed, self - administered survey questionnaire. The collected data were tabulated, statistically analyzed and interpreted. The study concluded that Company ABC must offer sufficient and better-quality rice as well as enhance benefit coverage. The researchers recommended that Company ABC ensure that employees be appropriately rewarded and that the benefits offered be constantly reviewed. The company needs to invest in non - monetary benefits that will not have high financial costs. The findings of this study apply only to Company ABC. The study also recommended the conduct of further research on the effects of benefits on the retention of employees in private organizations, specifically in Calamba area.