A Study on Academic Employee’s Retention in Higher Educational Institutions

Abstract

Employee motivation is a determinant to the performance of an organization in institutions of higher learning where the faculty staffs are the most crucial players in determining student performance and organizational performance. The current study examines the impact of monetary and non-monetary pay in the job satisfaction and motivation of academic employees. The sample size of the respondents was 250 participants that had participated in structured surveys and semi-structured interviews in various institutions of higher learning. Quantitative analysis of the relationships between demographic variables, types and levels of compensation, and the motivation was done using chi-square tests and ANOVA. The results suggest that monetary rewards, including salary, bonuses, and allowances, will satisfy the main economic and security needs of employees particularly among the young workers. However, non-financial rewards—including recognition, career development opportunities, autonomy, and work-life balance—are stronger long-term motivators, especially for senior academic employees. The statistical results confirm that there are really strong correlations among the compensational preferences and demographic factors (age; years of experience). Worse still, the study reveals that organizations that strike a balance between financial and non-financial incentives are better placed to be satisfied with employee commitment and retention.More so, the study indicates that comprehensive compensation plan, incorporation of both monetary and non-monetary types of reward is necessary to guarantee the maintenance of motivation and augmentation of organizational performance in higher education. This is not only a balance that produces academic excellence but also offers stability in the long-run of the workforce in the academic..