Investigating the factors that influence employee retention at Vector Logistics in South Africa.

Abstract

Employee retention can be acknowledged as an important area of study due to the implications for company management. This area of study has become even more important with the occurrence of what has been termed The Great Resignation as millions of employees are resigning from their jobs post-COVID-19. Employee retention is the effort an employer makes to keep desirable employees to continue meeting organisational objectives. Without an active effort to keep employees engaged, employees can be attracted to other opportunities and may leave the company. The study focused on Vector Logistics in South Africa. Consumers need products from various industries including food, electronics, textiles, and furniture among many others, making the logistics industry important for the delivery of these products and the functioning of the economy. Furthermore, fuel, energy, truck-building and other cost increases result in logistics companies searching for ways to keep costs low to prevent cost increases to customers. This study was commissioned to review the factors influencing employee retention at Vector Logistics in South Africa. The information gathered was used to highlight which strategies have been implemented and the success of each. A quantitative study was developed to achieve these aims with a close-ended questionnaire provided to the sample of the 28 employees of the HR department at Vector Logistics in South Africa. Therefore, the study will assist Vector Logistics with insights into manpower which is the most important asset in a company. By providing insights into factors influencing employee retention, the study will help Vector Logistics implement better strategies to retain employees.