An investigation of employees retention practices and their impact on organisational performance in service sector - Case study on Circle K Ireland

Abstract

The present research was performed to determine the impact of the employee retention strategies on the organisational performance of organisations in the service industry using the case study of Circle K service stations. The study identified that employee retention was highly significant for Circle K. It was evident that the employee strategies implemented by Circle K such as work life balance policies, good work environment, training and support, career development opportunities, recognition by the manager or supervisor for the good work done by the employee, good relations between the senior managers and co-workers and flexible working time. Circle K had a good organisational image and its leadership motivated the employees. However, financial rewards were not given to employees who had done a good job. Job security was also not provided by Circle K to its employees. Competitive salary in the industry were not given to the Circle K employees. The correlation analysis and the regression analysis showed that the employee retention strategies and organisational performance of Circle K had a strong and positive relationship with each other. In addition, the employee retention strategies of Circle K helped increase the business performance and organisational productivity of Circle K. It was recommended in this research that Circle K must provide financial rewards for the good work done by its employees. It also has to provide job security to the employees. In addition, competitive salary in the industry must be provided to Circle K employees. The results of the research hold relevance only to Circle K.