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The role of the psychological contract in retention management: Confronting HR-managers' and employees' views on retention factors and the relationship with employees' intentions to stay
De Vos, Ans Meganck, Annelies Buyens, Dirk
De Vos, Ans
Meganck, Annelies
Buyens, Dirk
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Publication Type
Working paper
Editor
Supervisor
Publication Year
2005
Journal
Book
Publication Volume
Publication Issue
5
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Publication End page
Publication Number of pages
30
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Abstract
This article examines HR managers' and employees' views on the factors affecting employee retention. This is done by integrating findings from the literature on retention management with the theoretical framework of the psychological contract. In a first study a sample of HR managers from a diverse group of public and private firms described the factors they believed to affect employee retention and the retention practices set up in their organization. In a second study, a large and diverse sample of employees reported on the importance attached to five types of employer inducements commonly regarded as retention factors. They also evaluated their employers' delivery of these inducements and provided information on their loyalty, intentions to stay and job search behaviors. The results of both studies are discussed and implications for HR managers are highlighted.
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Keywords
Reward Management