TOPIC

Role of Incentives in the Management and Retention of Employees among
SMES

AUTHOR

Godfrey E. I. T.

ABSTRACT
Retention of talent has become a major challenge for small and medium size enterprises
(SMEs), while skilled employees are being attracted by more than one organization at a
time with various incentives. For large firms, loss of a few among thousands of staff is
part of doing business and usually other employees take up the space until a replacement
is found. However, small to medium size enterprise that have few employees, loss of key
employees can have effect on business productivity and the result can be severe. When a
business losses employees, it losses skills, experience and the nature of these losses affect
productivity, product and service quality. Hence, all organisations require motivated
employees to function effectively and stay on the job. Motivated employees are dedicated
and work enthusiastically. The outcome of these motivated workforces includes employee
retention. It is against this backdrop, that this paper examined the role of incentives in the
management and retention of employees among SMEs.
Keywords: Incentive, SMES, Employees, Retention, Productivity

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PUBLISHED

2023-01-11

HOW TO CITE

Godfrey E. I. T. (2023). Role of Incentives in the Management and Retention of Employees among
SMES. IAA Journal of Arts and Humanities 10(1):39-45.