Effects of Training and Compensation on the Retirement Preparedness of Employees in State Corporations in Kenya

Abstract

The purpose of this study is to examine the effects of training and compensation on the retirement preparedness of employees in State Corporations in Kenya. The study utilizes a descriptive survey research design. The population of this study comprises all the employees in State Corporations in Kenya. A sample of 384 respondents is randomly selected from 32 State Corporations which are systematically sampled from the total of 262 gazetted State Corporations in Kenya. The study uses questionnaire to obtain quantitative and qualitative data for analysis which is further validated by pilot study. Information gotten are sorted, coded and inputted into the Statistical Package for Social Sciences (SPSS 21). Tables, descriptive statistics and inferential statistics are tools for data analysis. A multiple odd ratio regression model is used to test the significance of the effects of the independent variables (training and compensation) on the dependent variable (retirement preparedness). The findings show among others
that training, employee compensation positively and statistically affect the
retirement preparedness of employees in State Corporations in Kenya. The study also find that leadership style moderates the relationship between training, compensation and the retirement preparedness of employees in State Corporations in Kenya. Therefore, it recommends that the management of State Corporations should consider putting in place measures such as improved training and compensation as probable ways of ensuring that there is improved employee retirement preparedness.