Effects of working environment and workforce retention programs on workforce productivity of financial technology companies

Francis Banaag
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Francis Banaag: Organization Development and Finance Planning, Philippines

Journal of the Academy of Business and Emerging Markets, 2023, vol. 3, issue 1, 53-64

Abstract: Organizational challenges, market competition, and workforce productivity are vital to promote employees’ health and the firm's success. Research indicates that time, stress, work environment, and the cost of hiring and training new employees were significant in achieving the organizational deliverables. Poor work environments and the lack of workforce retention strategies negatively impact business outcomes. The high employee turnover brings multiple problems, with high human capital costs and knowledge loss, leading to low productivity. The combined good working environment and workforce retention strategies increase workforce motivation in the firm and ultimately reach the extremes of workforce productivity. The researcher finds that working environment and workforce retention strategies have strong positive relationships with workforce productivity. Managers should collaborate for competitive workforce retention programs and policies.

Keywords: workforce retention programs; workforce productivity; working environment (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:ris:jabema:021878

DOI: 10.5281/zenodo.7947360

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