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Employee Retention Benefits and Organizational Sustainability of Oil Services Firms in Rivers State, Nigeria

Elechi Wagbara PhD, Nwachukwu Precious Ikechukwu

Abstract

This study examined the relationship between employee retention benefits and organizational sustainability in oil services firms operating in Rivers State, Nigeria. Using a cross-sectional survey design, data were collected from 150 employees across six major oil services companies. Simple regression analysis was employed to test three hypotheses examining the effects of compensation packages, career development programs, and work-life balance initiatives on organizational sustainability. The findings revealed significant positive relationships between all three dimensions of retention benefits and organizational sustainability (p < 0.05). Specifically, compensation packages (? = 0.672, p < 0.001), career development (? = 0.584, p < 0.001), and work-life balance (? = 0.539, p < 0.001) all significantly predicted organizational sustainability. The study concludes that oil services firms should strategically invest in comprehensive retention benefit programs to enhance long-term organizational sustainability. Practical implications and recommendations for human resource management in the oil and gas sector are discussed.

Keywords

Employee retentionRetention benefitsOrganizational sustainabilityOil servicesRivers State

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