ASSESSMENT OF THE RETENTION PROGRAM OF AN ACCOUNTING FIRM IN QUEZON CITY: BASIS FOR IMPROVED RETENTION STRATEGIES

Abstract

Employee retention has become a critical issue for organizations, given its significant influence on operational stability, overall performance, and cost management. This study seeks to assess the effectiveness of current retention programs by focusing on factors such as employee achievement, recognition, job content, responsibility, career advancement, and growth opportunities. Furthermore, it aims to identify the obstacles employees face within the organization that may hinder retention efforts. The insights gained from this research will provide valuable guidance for designing customized retention strategies that effectively attract and retain skilled talent in a competitive business landscape. This study utilized a descriptive research design to collect relevant data. The sample comprised twenty-two (22) employees from EM Management and Accounting Services in Quezon City, chosen through purposive sampling to ensure alignment with the study’s objectives. Data were gathered using a researcher-developed survey questionnaire. The responses were then analyzed using frequency and percentage distributions, weighted mean calculations, and ranking techniques. The findings indicate that most respondents are young professionals (59.09%) and female employees (68.18%), primarily serving as accounting staff (68.18%). A notable portion has been employed for six to ten years (31.82%). Employees exhibit a strong sense of responsibility, with a composite weighted mean of 3.32, and find their work meaningful and challenging. However, opportunities for career growth, development, and strategic involvement are limited. To address these issues, the company should introduce formal mentorship programs, continuous learning opportunities, leadership training, and a rewards system that recognizes innovation and strategic contributions. The study also identified repetitive and monotonous work as a common challenge, which affects employee motivation. The study underscores the importance of tailored institutional support for the professional growth of teaching staff as a key factor in boosting employee engagement. Drawing from these insights, an enhanced retention plan is recommended to facilitate career advancement. By offering mentorship programs and ongoing learning opportunities, the organization can help employees strengthen their skills and achieve meaningful career progression.