Developing and Improving Employee Retention Strategies in the Libyan Private Sector

Date

2024-12

Type

Conference paper

Conference title

Author(s)

khalifa abdalla kashtia

Abstract

*ABSTRACT* Employee retention (ER) has become a vital challenge in the Libyan private sector, impacting productivity, continuity, and overall organizational achievement. This study seeks to examine and devise effective ways of enhancing employee retention through an identification of major workplace factors that determine the employees' state of mind. The reason for undertaking this study is to emerge from rising rates of turnover, low employee engagement, and minimal studies targeting the Libyan context in particular. Whereas other works have investigated some of these retention factors, most of them fail to capture localized elements and thorough statistical confirmation. To overcome these limitations, this research dwells on four salient dimensions that affect retention: Job Satisfaction, Leadership and Management Support, Compensation and Benefits, and Career Development and Growth Opportunities. A structured questionnaire containing 20 questions (5 for each dimension) was administered to workers in various private sector organizations. The data so obtained was subjected to analysis through SPSS software. Most importantly, statistical procedures utilized were Cronbach's Alpha for testing reliability of the survey, Descriptive Statistics to investigate response patterns and variability, and Linear Regression Analysis to find out which dimensions are the most important predictors of employee retention. The results showed that Career Development Opportunities and Leadership and Management Support are the most significant drivers of ER, followed by Compensation and Job Satisfaction. These findings offer important guidance for business leaders, HR practitioners, and policymakers in Libya to adopt targeted strategies that encourage employee loyalty and minimize turnover. Through the provision of data-driven support for decision-making, this research is advantageous to private sector organizations looking for sustainable development through enhanced employee retention.