Dr. Emmanuel Olaniyi, Dunmade
Volume 3 Issue 4 | Dec 2020
DOI: 10.31841/KJEMS.2021.17
Views: 548
Total Downloads: 6
Download PDF
Abstract
The possibility of an organization in reducing work related stress of its surviving workforces resulting from retrenchment practice is not only dependent on such establishment’s ability in developing appropriate strategies for the exercise, but also on its capability to formulate effective policies for the practice. The study therefore examines the effect of post – retrenchment practice on the morale and loyalty of surviving employees in Remto industries, Ilorin, Nigeria. The study adopted simple random sampling technique with the employment of structured questionnaire to obtain the needed information from the respondents. The descriptive statistics utilized for the study comprised simple percentage and tables, while inferential statistics used were Pearson correlation analysis together with regression. The findings of the study indicated that workforce reduction has negative and significant relationship with the morale of the surviving employees, and that there is positive and significant effect of communication over cost – cutting process on the loyalty of the current employees in the industries. The study recommends development of best approaches by the management of the organization through formulation of effective and communicative retrenchment’s policies in the workplace. This is to minimize the negative aftermath effects associated with the practice on the staff of the company.
Keywords: Corporate Performance; Employees’ Morale; Existing Staff; Retrenchment Practice, and Workers’ Loyalty