Employee Retention Policy as Hr Best Practice and Organisation Performance: a Case Study of Ubth

This study examined the impact of employee retention policies as a human resource best practice on organizational performance, using the University of Benin Teaching Hospital (UBTH) as a case study. The focus was on key components of retention policies, including competitive compensation and benefits, career succession development programs, work-life balance initiatives, supportive work environment, and recognition and competitive reward systems. Using Taro Yammane formula, a sample size of three hundred and sixty (366) was arrived out, however, on distribution of the research questionnaire only 360 was found usable for this study. Data was collected through structured questionnaires. The analysis utilized both descriptive statistics such as (frequency, mean, and percentage) and inferential statistics such as (regression analysis) to evaluate the relationships between various variables used. The findings revealed that competitive compensation, a supportive work environment, and recognition and competitive reward systems significantly enhance organizational performance, with recognition and rewards hav the strongest impact on organisational performance. Conversely, career succession development programs and work-life balance initiatives were found to have no significant effect. Based on these findings, the study recommends that improving compensation packages, fostering supportive workplaces, and implementing robust recognition systems while reevaluating and redesigning career development and work-life balance initiatives to support the achievements of organizational goals and also meet employee expectations.