Benefit Provision and Employee Retention in the Nigerian Fintech Industry: Evidence on Tenure and Progression in Port Harcourt Metropolis

Essien; Sebastian Uwem PhD; Uwem; Chinwe Comfort

doi:10.56201/ijebm.vol.12.no7.2026.pg79.87

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Benefit Provision and Employee Retention in the Nigerian Fintech Industry: Evidence on Tenure and Progression in Port Harcourt Metropolis

Essien, Sebastian Uwem PhD, Uwem, Chinwe Comfort

Abstract

The purpose of this study was to examine the relationship between benefit provision and employee retention in the Nigerian Fintech Industry: Evidence on Tenure and Progression in Port Harcourt Metropolis. Two objectives, research questions and hypotheses guided the study. The study utilised a cross-sectional correlational research survey design with a sample size of 248 employees drawn from a population of 700 employees across 38 active fintech firms located in Port Harcourt, using the Krejcie and Morgan 1970 Table. The primary source of data was a structured questionnaire titled “Benefit Provision, Tenure, Progression Questionnaire”, with a 5-point Likert Scale instrument (SA=1 to SD=5). The instruments were validated by 3 Human Resources experts from Rivers State University. The internal consistency of the instrument yielded a total Cronbach Alpha reliability coefficient of .94, which showed that the instruments were reliable. The research questions were answered, and the Pearson Product-Moment Correlation Coefficient was used to test the hypotheses at a 0.05 level of significance using Statistical Package for Social Science . The result of the analysed data revealed that benefit provision has a significant positive relationship with tenure (r =.692, p <.01) and with progression (r =.664, p <.01). Based on the findings, it was concluded that benefit provision significantly influences employee retention through tenure and progression in the Nigerian Fintech industry in Port Harcourt Metropolis. The study recommended that Fintech Human Resource Managers should priorities tenure linked benefits wheels such as financial wellness programs, equity awards, debt assistance and caregiver support tied to promotion, learning stipends and certification support, as this directly targets both tenure and progression

Keywords

Benefit ProvisionTenureProgressionEmployee retentionFintechSocial Exchange Theory P-ISSN 2695-186X

References

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Benefit Provision and Employee Retention in the Nigerian Fintech Industry: Evidence on Tenure and Progression in Port Harcourt Metropolis

Abstract

Keywords

References

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