Perceived Organizational Prestige and Employee Retention in Microfinance Banks in Anambra State

Retention of employees is one of the success determining factors of organizations, however, this seems to be difficult for microfinance banks to achieve in Anambra State, thereby necessitating this study to examine the role perceived organizational prestige POP plays in their retention dynamics. The work is anchored on the Herzberg Two Factor Theory. The study adopted a survey research design and the population consisted of 398 employees of the selected microfinance banks and the census method was used. The method of data collection was primary, using Likert structured question, A combination of descriptive and inferential statistics were used for data analysis, and the hypotheses were tested at a 5 level of significance. Findings revealed that training and development has a statistically significant influence on employee retention r = 941 p value 0.05 and that compensation has a statistically significant influence on employee retention r = .948 p value 0.05 in microfinance banks in Anambra State. Sequel to this, it was concluded that perception of people plays a crucial role in the choice of employees to either stay or quit an organization. Hence, it was recommended among others that to retain employees, training and development need to be given a pride of place in the organizations. Onyekwelu Njideka Phina | Nwosu Kanayo Chike | Okeke Patrick Anene "Perceived Organizational Prestige and Employee Retention in Microfinance Banks in Anambra State" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-5 , August 2022, URL: https://www.ijtsrd.com/papers/ijtsrd50531.pdf Paper URL: https://www.ijtsrd.com/management/business-economics/50531/perceived-organizational-prestige-and-employee-retention-in-microfinance-banks-in-anambra-state/onyekwelu-njideka-phina