Employee Retention Strategies and Organizational Performance: The Buffering Effect of Personal Profiles

Abstract

As a major driver of worldwide economic and societal progress, budget hotels are essential to the hospitality sector. Economic development and organizational effectiveness have been adversely affected by the frequent and unplanned turnover of staff in these companies. This study looks at how staff retention strategies — respect, recognition, and rewards in particular — relate to the organizational success of budget hotels in Ghana and explores the moderating role that individual demographics play. In Ghana, 422 staff of 51 budget hotels were included in the study, which used a survey research design. The results show that staff retention tactics have a middling effect on budget hotels’ performance in Ghana's hospitality industry. According to the study, managers of budget hotels should concentrate on putting into practice efficient employee retention measures in order to improve overall organizational performance.