Effect of Diversity Management Strategies on Employee Retention among Staff of Nigeria Deposit Insurance Corporation

Nnadi, Chikezie Sunday Onoh; Chinedu, Umeh Anthony

doi:10.6007/ijarbss/v9-i7/6199

Cited by 11 publications

(15 citation statements)

References 15 publications

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“…However, very few researchers have studied the relationship between staff diversification and firms' financial performance in the insurance industry. Similar to the findings of other industries, Nnadi and Chinedu (2019) argue that staff diversity is essential in improving deposit insurance companies' performance in Nigeria. Accordingly, it is expected that a positive relationship exists between staff diversification and the financial performance of Iranian insurance firms, and the following hypotheses are proposed: Hypothesis 4a (H4a): Staff diversification Gender is positively associated with the financial performance of firms in the insurance industry.…”

Section: The Relationship Between Staff Diversification and Firms' Fi...supporting

confidence: 76%

The impacts of diversification strategy on the financial performance of insurers

Shojaei¹

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The thesis examines the impacts of diversification strategy on the financial performance of firms in the insurance industry. It investigates the impacts of different dimensions of the diversification strategy, including product, geographic, staff, and technological diversification, on insurers' financial performance while considering some essential control variables such as type, size, age, and ownership structure of the companies. The research measures financial performance with the return on equity (ROE) and the return on assets (ROA). The thesis employs the mixed methods research methodology using qualitative and quantitative data collected from Iranian insurance companies, while the data is analysed quantitatively. Two separate studies are conducted to evaluate the impacts of different dimensions of diversification strategy on firms' financial performance. Specifically, the first study focuses on the impact of technological diversification strategy on a firm's financial performance. This study uses the primary data associated with technological diversification through a questionnaire survey with managers from 31 Iranian insurance companies, as the data for technological diversification is not available as secondary data. The data associated with firms' financial performance is collected from reports annually published by the Central Insurance of Iran. Employing the Structural Equation Modelling method enabled by Smart PLS 3 software to analyse the primary data, the study reports mixed effects of technological diversification on the financial performance of Iranian insurers. The second study focuses on investigating the impacts of product, geographic and staff diversification strategies on the financial performance of Iranian insurers. This study employs secondary data collected from the annual reports of the Central Insurance of Iran (from 2011 to 2020). Using econometric techniques for panel data (e.g., fixed effects) enabled by EViews 10 software, the study finds some 3 significant impacts of different dimensions of diversification strategy on the financial performance of Iranian insurers. This thesis is novel in several ways. First, it uses new measurement methods for different dimensions of the diversification strategy, specifically for product diversification and technological diversification. Second, this is the first study in diversification-firms' financial performance literature that combines all four dimensions in a single study. Third, this research benefits from different theoretical perspectives to synthesise the literature and interpret the findings. Therefore, the thesis is not bound or biased to any single theoretical lens. Finally, it provides robust and comprehensive findings for both researchers and practitioners in the insurance industry.

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Section: The Relationship Between Staff Diversification and Firms' Fi...supporting

confidence: 76%

The impacts of diversification strategy on the financial performance of insurers

Shojaei¹

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“…Employee-retention is generally 'the intention of employees to stay loyal to their current-workplace' (Huang et al, 2006). It is concerned with keeping or encouraging employees to remain in an organization for a maximum period of time (Nnadi & Chinedu, 2019). Employee retention is a technique adopted by businesses to maintain an effective workforce at the same time to meet operational requirements (Mita, M. et al,2014).…”

Section: Concept Of Employee Retentionmentioning

confidence: 99%

Factors Affecting Employee Retention of Private Companies in Cambodia Using Delphi Method

Macaraig

Hong

Lay

2023

Am. J. Educ. Technol.

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In slightly more than a decade (1988-2000), the eminent issue for companies was one of attracting and retaining people with the skills necessary to do the work. The situation became even more complex during 2001 – 2009 period as an economic meltdown forced thousands of companies to cut back or downsize their employee populations. Employee turn-over is often associated with “employee retention”. Employee retention plays an important role to keep up with other companies amidst the rapid evolvement of global economic environment. The objectives of the study are (1) To identify and assess the factors affecting employee retention of private employees in Cambodia from the experts point of view such as HR practitioners etc. and (2) To recommend ways on how to improve employee retention. The researcher employed Delphi Method Technique with 2 rounds. The Delphi methodology is used to determine, predict and explore group attitudes, needs and priorities. The researcher invited 34 panel of experts who are at least middle managers of private companies in Cambodia such as HR professionals and managers and with at least 5 years of experience in the field. After round 2, the experts agreed that there are 5 factors greatly affecting employee retention of private companies in Cambodia and they are: compensation; promotion, opportunity and growth; work environment; training and development; and work-life balance.

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“…The hypothesis suggests that people continue to categorize themselves into social categories that are important to them, and forms the way personalities communicate with others from their own identity groups and other collections (Nnadi & Chinedu, 2019). Carter (2013) states that identity theory has become a rigorous and empirically grounded interpretation of the concept of self.…”

Section: Social Identity Theorymentioning

confidence: 99%

“…To (Madera et al, 2017;Mateescu, 2017), performing diversity administration systems relied on front-line administrators but some experts recognized little impact which diversity performs. The main management problem is that companies spend huge dollars yearly on diversity running programs getting little outcomes and can lead to corporate disruption with improper handling (Nnadi & Chinedu, 2019;Madera et al, 2017;Kulik, 2014;Guillaume et al, 2013). To date, numerous studies have performed in the ground of labour variety crisis in Ghana, concentrating complexities handling several workforces (Edeltraud et al, 2011;Otike et al, 2011).…”

Section: Introductionmentioning

confidence: 99%

The Link between Firm-Related Diversity and Staff Motivation in Tamale Teaching Hospital

Abubakari¹,

Yakubu²,

Abdula³

et al. 2022

OJBM

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The study examined the effects of workplace diversity on employee motivation. The research used expressive investigation intended at exploring the effects of workplace variety on motivation in TTH. The researcher in the study had employed a questionnaire data collection technique and data analysis. The study targeted selected management and staff of TTH, and purposive sampling technique was used. The outcomes revealed positive link among workplace relationship and staff motivation in TTH. The research also pursued to establish the link among demographic diversity and staff encouragement which was grounded on various parameters which included: gender, age, work experience, religion, regional and education. It is established that male and feminine employees were treated in an impartial and equivalent way, feeling contented employed with the contradictory gender and employed with opposite gender supports upsurge concert in the hospital in the TTH. From the analysis, there was a positive link between work diversity and staff motivation in TTH. Hospital management should intensify strategies on equivalent engagement, regardless of their social contextual, ethnic group, and gender in order to inspire resourcefulness and transformation in the hospital to have employees enhance performance.

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Effect of Diversity Management Strategies on Employee Retention among Staff of Nigeria Deposit Insurance Corporation

Cited by 11 publications

References 15 publications

The impacts of diversification strategy on the financial performance of insurers

The impacts of diversification strategy on the financial performance of insurers

Factors Affecting Employee Retention of Private Companies in Cambodia Using Delphi Method

The Link between Firm-Related Diversity and Staff Motivation in Tamale Teaching Hospital

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