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The Impact of Compensation Benefits on Retaining Talented Employees: The Case of Lebanon

Author

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  • Layal BOKAII

    (Beirut Arab University, Beirut, Lebanon)

Abstract

Increased competition for jobs within the country as the economy improves is a major factor driving up employee turnover rates in Lebanon. This is often ascribed to corporations competing with one another in terms of monetary benefits, but from a total rewards viewpoint, little is known about the role nonmonetary rewards play. To this end, employee involvement in one's job might serve as a useful explanatory variable in place of loyalty to one's employer. The goal of this research is to examine the role that financial and non-financial incentives play in determining whether or not workers in Lebanon choose to remain with their current employers, as measured by their level of engagement at work. Using data from 357 respondents, we discover that both monetary and non-monetary factors contribute significantly to an employee's likelihood of leaving their current position. Companies that are serious about keeping their workers should make employee engagement a top priority.

Suggested Citation

  • Layal BOKAII, 2023. "The Impact of Compensation Benefits on Retaining Talented Employees: The Case of Lebanon," Management and Economics Review, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 8(1), pages 98-108, February.
    • Handle: RePEc:rom:merase:v:8:y:2023:i:1:p:98-108
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    File URL: https://mer.ase.ro/files/2023-1/8-1-7.pdf
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    More about this item

    Keywords

    Total Rewards; Monetary rewards; Non-monetary rewards; Work engagement; Intention to stay; and Job satisfaction;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing

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