Training & Development and Employee Retention Rates in Listed Insurance Companies in Nigeria (Published)
This study investigates the impact of Training and Development on Employee Retention in Listed Insurance Companies in Nigeria, guided by the Human Capital Theory. A cross-sectional survey design was employed, targeting management staff from 23 insurance firms. Data was collected using structured questionnaires, and validity and reliability were ensured through rigorous testing. Multivariate Analysis of Variance (MANOVA) was conducted to test hypotheses, revealing that while training frequency and quality significantly influence job satisfaction, they do not significantly affect turnover intention. Development opportunities moderately impact job satisfaction but have no significant effect on turnover intention. The findings underscore the importance of continuous and high-quality training programs in enhancing job satisfaction, supporting the Human Capital Theory. Future research should explore additional factors influencing retention and satisfaction within the insurance sector, including organizational culture, employee engagement, and career aspirations.
Keywords: Employee Retention, Job Satisfaction, Organizational Culture, Turnover Intention, development opportunities, training frequency, training quality