Effects of Work Life Balance and Employee’s Cultural Background on the Retirement Preparedness of Employees in State Corporations in Kenya
Keywords:
State Corporations, retirement preparedness, leadership style, cultural background, Work life balanceAbstract
This study establishes the effects of work life balance and employee's cultural background on the retirement preparedness of employees in State Corporations in Kenya. The study utilized a descriptive survey research design. The population for the study constitutes the 86,000 employees in State Corporations. The sample size is 384 respondents. The sample was selected from 32 State Corporations which are sampled from the total of 262 gazetted State Corporations. The study uses questionnaire to obtain quantitative and qualitative data for analysis which is further validated by pilot study. Information is sorted, coded and inputted into the statistical package for social sciences (SPSS 21). Figures, 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 influence of the independent variables (work life balance and employee's cultural background) on the dependent variable (retirement preparedness). The findings show that work life balance and employee cultural background positively and statistically influenced the retirement preparedness of employees in State Corporations in Kenya. The study also found that leadership style moderates the relationship between work life balance, employee's cultural background and the retirement preparedness of employees in State Corporations in Kenya. It is therefore suggested that State Corporations should come up with internal ways of encouraging their workers to improve savings culture towards their retirement.
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