Business & Entrepreneurship Journal

Assessing transactional rewards on employees’ retention intention of indigenous oil servicing firms in Nigeria

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  • Abstract

    This study investigates the effects of transactional rewards on employees’ willingness to remain in oil servicing firms in Rivers State. The research design was a field survey with a set of 300 questionnaires distributed accordingly which is the corresponding sample size for the population of 1200 employees resulting from the application of Taro Yamane’s sample size determination. The purposive and simple random techniques were used to select the companies and respondents respectively. The results of the study reveal a significant relationship between transactional rewards (pay, shares issue, profit sharing, and pension) with employees’ intention to remain at workplace. It was recommended that management should implement effective pay and benefits that were cherished and valued by the employees since rewarded employees would exhibit continuance commitment and exert work effort that would increase productivity.

    Keywords: Transactional reward; Retention intention; Turnover