The impact of monetary compensation on employee retention in Ghana Health Service: a case study of Ghana Health Service in Central Region

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The shortage of health professionals as a result of employee retention in Ghana is a major concern for people living in the country. The worry stems from the fact that health service delivery is labour intensive and human resource crisis adversely affects the quantity and quality of health services delivered to clients. For this reason, one wonders whether compensation has impacted on employee retention or not. The study emphasised on examining the influence of monetary compensation on employee retention within the Ghana Health Service located in Central Region of Ghana as a case study. In this study, a descriptive approach was adopted. The study relied on the census technique to collect views from the entire three hundred and forty one staff of the hospitals. In all, one hundred and seventy one (171) questionnaires were retrieved. The study made use of cross tabulation and frequencies in its data analysis. The study revealed that Health workers perceived monetary compensation through an increase in pay as a very important medium of retaining them in their various hospitals. However, less than half of the health workers were dissatisfied with the reduction in pay as a medium to affect employee retention. With regards to the alternative factors that motivated them, the health workers identified job security, work condition, supervision, recognition, decision-making, opportunities for advancement and organizational culture. It was therefore recommended that management should ensure the motivation of employees by developing conditions of service that will attract, develop and maintain employees in the various hospitals in the region.
A thesis submitted to the Department of Marketing and Corporate Strategy, Kwame Nkrumah University of Science and Technology in partial fulfillment for the requirements of the degree of Master of Business Administration (Strategic Management & Consulting option)