Document Type : Original Research

Authors

• Lawrence Wahua ¹
• Ike Romanus Chukwuma ¹
• Temitope Reuben Akinsete ¹
• Samuel Brobbey ²

¹ Department of Accounting, Admiralty University of Nigeria, Ibusa, Nigeria

² School of Doctoral Studies, Unicaf University, Malawi

Abstract

Dearth of quantification of the nexus between employee compensation and turnover gave rise to this empirical investigation of the effect of employee salary, employee pension scheme, employee allowance, employee share bonus, and employee savings scheme on turnover of Chevron Group of Companies using audited secondary data from annual reports for 2012 to 2021. Anchored on economic theory, the five hypotheses developed for the study were tested simultaneously based on univariate general linear model with the aid of statistical package for social sciences. The cardinal findings of this study (which carried out descriptive and inferential statistical analyses) show that the effect of employee compensation on turnover of Chevron Group with the studied period is mixed in line with reviewed literature. Salary of employees has non-significant negative effect on turnover; employee pension scheme has significant positive effect on turnover while employee allowances, share bonus, and savings scheme have significant negative effect on turnover. The findings of the study have salient significance in terms of theory, practice, and policy. Far reaching recommendations are put forward.

Keywords

• Employee compensation
• pension scheme
• savings scheme
• share bonus
• staff allowance
• turnover

20.1001.1.23832126.2023.10.12.5.0

Main Subjects

• Accounting
• Human Resource Accounting

COPYRIGHTS

©2023 The Author(s). This is an open access article distributed under the terms of the Creative Commons Attribution (CC BY 4.0), which permits unrestricted use, distribution, and reproduction in any medium, as long as the original authors and source are cited. No permission is required from the authors or the publishers.