Employee Perception of the Organizational Employee Retention Strategies in State Owned Insurance Firm

Employee’s perception about organizations retention strategies plays a crucial role in determining the overall stability and loyalty within that particular organization. This study explores employee’s perception of the organizational employee retention strategies in state owned Insurance Firms. The study used mixed method approach. Purpose and simple random sampling methods were used to select 52 respondents at ZSIC life. The findings revealed that positive perception among employees of retention strategies in a state-owned insurance firm (ZSIC Life), such as low-rates loans, comprehensive insurance benefits, and supportive on-boarding programs enhanced employees sense of security and loyalty. Overall, the study concludes that when employees perceive retention strategies as fair, transparent, and supportive, they are more likely to be engaged and committed to the organization, thereby, improving retention rates. The study identified lack of adequate financial resource, and unrealistic employee expectations as major barriers to effective employee retention. The study recommends for state owned insurance firms to have greater managerial support, and adequate financial resource to fully fund retention strategies.