A research of factors affecting employee retention in topica edtech group

ĐẠI HỌC QUỐC GIA HÀ NỘI KHOA QUẢN TRỊ VÀ KINH DOANH - PHẠM THANH NAM A RESEARCH OF FACTORS AFFECTING EMPLOYEE RETENTION IN TOPICA EDTECH GROUP NGHIÊN CỨU CÁC YẾU TỐ ẢNH HƯỞNG ĐẾN VIỆC GIỮ CHÂN NHÂN VIÊN TẠI TỔ HỢP CÔNG NGHỆ GIÁO DỤC TOPICA LUẬN VĂN THẠC SĨ QUẢN TRỊ KINH DOANH HÀ NỘI - 2020 ĐẠI HỌC QUỐC GIA HÀ NỘI KHOA QUẢN TRỊ VÀ KINH DOANH - PHẠM THANH NAM A RESEARCH OF FACTORS AFFECTING EMPLOYEE RETENTION IN TOPICA EDTECH GROUP NGHIÊN CỨU CÁC YẾU TỐ ẢNH HƯỞNG ĐẾN VIỆC GIỮ CHÂN NHÂN VIÊN TẠI TỔ HỢP CÔNG NGHỆ GIÁO DỤC TOPICA Chuyên ngành: Quản trị kinh doanh Mã số: 60 34 01 02 LUẬN VĂN THẠC SĨ QUẢN TRỊ KINH DOANH NGƯỜI HƯỚNG DẪN KHOA HỌC: TS.TRẦN KIM HÀO HÀ NỘI - 2020 DECLARATION The author confirms that the research outcome in the thesis is the result of author‟s independent work during study and research period and it is not yet published in other‟s research and article The other‟s research result and documentation (extraction, table, figure, formula, and other document) used in the thesis are cited properly and the permission (if required) is given The author is responsible in front of the Thesis Assessment Committee, Hanoi School of Business and Management, and the laws for above-mentioned declaration i ACKNOWLEDGEMENT During my MBA course, I have gained various knowledge, skill and insights of management This course significantly grows up my capacity of administration and management and support me manage my company effectively I declare that this is a true copy of my thesis The content of this thesis has been approved by the committee of Vietnam National University, Hanoi – Hanoi School of Business and Management (HSB) This thesis has not been submitted for a higher degree to any other University or Institution In order to finish this project successfully, I have received many helps, supports and guidance from many people who I would like to thank sincerely First of all, I would like to thank all the professors of MBA program, especially Dr Tran Kim Hao – my supervisor Then I would like to thank deeply to class assistant team of HCC center, respondents who allowed me to gather enough data for this research Finally, I would like to express my thanks to my family, my colleges and my fellow friends who always stand by me during the past two years and encourages me to keep moving from the beginning of my study ii ABBREVIATION EFA Exploratory Factor Analysis iii LIST OF FIGURES Figure 1.1: HRM Practices and Employee Retention in Thailand research model 14 Figure 1.2: Determinants of academic staff retention in Public universities in Kenya research model 15 Figure 1.3: Research conceptual model of Employee retention 16 Figure 3.1: TOPICA organizational chart 28 Figure 3.2: TOPICA Growth and Funding History 30 Figure 3.3: TOPICA global competitor 31 Figure 4.1: Gender statistic 34 Figure 4.2: Age statistic 35 Figure 4.3: Working seniority analysis 35 Figure 4.4: Employee referral intention 36 Figure 4.5: Model after calibrating retention 41 iv LIST OF TABLES Table 3.1: Table of summary in TOPICA product position in ASEAN 27 Table 3.2: Table of the payment raising rate in TOPICA 31 Table 4.1: Table of Cronbach analysis result of the research 64 Table 4.2: Table of reliable variables after running Cronbach analysis 37 Table 4.3 Table of KMO and Bartlett's Test result 65 Table 4.4 Total Variance Explained test result 65 Table 4.5 Table of rotated Component Matrixa test result 66 Table 4.6: Summary table of observed variables that are reliable after running exploratory factor analysis 39 Table 4.7: Table of Descriptive statistic of grouped factor after running EFA 68 Table 4.8: Table of correlation test result 68 Table 4.9: Model Summaryb test result 68 Table 4.10: ANOVAa test result 68 Table 4.11: Coefficientsa test result 68 Table 4.12: Levene Statistic of gender group test result 69 Table 4.13: T-test of gender group test result 69 Table 4.14: Levene Statistic of age group test result 70 Table 4.15: Levene Statistic of working seniority group test result 70 Table 4.16: ANOVA Statistic of working seniority group test result 70 v TABLE OF CONTENT INTRODUCTION 1 Research rationale Literature review Aim of research Research objects Research scope Thesis structure CHAPTER I LITERATURE REVIEW AND HYPOTHESIS DEVELOPMENT 1.1 Employee retention 1.1.1 Definition 1.1.2 The importance of employee retention 1.2 Factors affect employee retention 1.2.1 Compensation and benefits 1.2.2 Reward and recognization 1.2.3 Training and development 10 1.2.4 Organizational culture 10 1.2.5 Leadership style 11 1.2.6 Working environment 13 1.3 Theoretical framework and hypothesis development 14 1.3.1 Review relevant theoretical framework 14 1.3.2 Research theoretical framework 16 1.3.3 Hypothesis development 16 CHAPTER II: RESEARCH METHODOLOGY 20 2.1 Research Objectives 20 2.2 Research approach 20 2.3 Research strategy 20 2.4 Research instrument 21 2.5 Survey design 22 2.6 Sampling method and size 22 2.7 Data Collection 23 2.8 Data analysis 24 vi CHAPTER III: THE CURRENT SITUATION OF CUSTOMER RETENTION IN TOPICA EDTECH GROUP 26 3.1 The current turnover rate situation in Vietnam 26 3.2 Current situation of TOPICA Edtech Group 27 3.2.1 General information 27 3.2.2 Organizational Chart 28 3.2.3 TOPICA products 28 3.2.4 TOPICA Growth and Funding History 30 3.2.5 TOPICA competitor overview 31 3.3 TOPICA efforts to raise the employee retention 31 3.3.1 Compensation, Reward & Recognization 31 3.3.2 Working environment 32 3.3.3 Organizational culture 32 3.3.4 Leadership Style 33 3.3.5 Training & development 33 CHAPTER IV: RESEARCH RESULTS 34 4.1 Demographic analysis 34 4.2 General working information of employee 35 4.3 Employee retention questionnaire analysis 36 CHAPTER V RESEARCH DISCUSSION AND RECOMMENDATION 44 5.1 Discussion 44 5.2 Recommendation 45 CONCLUSION, LIMITATION AND IMPLICATION 48 Conclusions 48 Limitations 49 2.1 Sampling 49 2.2 Respondent bias 49 2.3 Option of answers 49 2.4 Explanation rate of the research model 49 Implications 50 REFERENCES 51 APPENDIX I 58 APPENDIX II 62 vii INTRODUCTION Research rationale Turnover is a relevant topic for organizations all over the world According to Khatri, Budhwar, and Chong (2010), most organizations in Asian countries such as Malaysia, Singapore, Hong Kong, Taiwan and South Korea have been facing the same turnover problems as Western countries In Vietnam, there are several academical research about the topic of employee retention of a specific enterprise but no research has been done in a larger scale such as an industry despite the problems of the high turnover rate have been faced by most of the organizations and enterprises, especially small and medium enterprises According to Jones et al (2016), although the laws on minimum wages and social security, as well as commissions, incentives and bonuses, most Vietnamese companies have a high staff turnover rate Additionally, 67.8% of young local Vietnamese staff reported wanting to quit their jobs after “Tet” This issue can cause serious problems to Vietnam companies, especially in Vietnam‟s growing software industry, where hiring new staff mid-project can add months to the completion date The Talentnet and Mercer Total Remuneration Survey Report 2016 showed that “the average voluntary staff turnover rate of local companies was higher than multinational companies (17.0% compared with 13.7%) Sales manager, senior sales executive and marketing manager continue to be in the top list of hot jobs to recruit The most difficult positions to retain are senior sales executive, sales manager and marketing manager.” There has not been any official internal research about the turn-over rate situation in TOPICA throughout these year but several unofficial statistics worth mentioning here are the overall drop-out rate is around 40% and specialist and part-time employee are major groups that are recorded the most number of turnover staffs Several reasons for the serious turnover percentage are because those employees are not suitable for the working culture and not reach the required working performance for the company The manager and senior executive level have been seen a lower turnover rate and the predicted main reason is to run their own business or startup Thus, it can be maintained that understanding employees‟ retention of the highskilled workforce is crucial for an organization‟s viability to reduce employee turnover rate For this reason, the author selected the topic: “A research of factors affecting employee retention in Topica Edtech Group” to fulfilment the master thesis 71 Stevenson, H H (1983) A perspective on entrepreneurship, Harvard Business School 72 Talentnet (2016) Talentnet and Mercer Total Remuneration Survey (TRS) 2016 [online] Available at: http://www.talentnet.vn/en/information-center/talentnet- viewpoints/talentnet-and-mercer-total-remuneration-survey-trs-2016 cPirchp92X [Accessed 15 Jul 2019] 73 Tabachnick, B G., Fidell, L S., & Ullman, J B (2007) Using multivariate statistics (Vol 5) Boston, MA: Pearson 74 Taylor, S (2014) Resourcing and talent management 6th ed London: CIPD 75 Tangthong, S., Trimetsoontorn, J., & Rojniruntikul, N (2014) HRM Practices and Employee Retention in Thailand—A Literature Review International Journal of Trade, Economics and Finance, Vol 5, No 2, 2014 76 Tabachnick, B G and L S Fidell (2001) Using multivariate statistics Needham Heights, MA, Allyn & Bacon 77 Tiwari, I (2015) An analysis of the factors affecting employee retention and turnover in the Irish hospitality industry (Doctoral dissertation, Dublin, National College of Ireland) 78 Tomlinson, A (2002) High technology workers want respect: Survey Canadian Human Resources Reporter,15(3), 79 Tourangeau, A., Cranley, L., Spence Laschinger, H K., & Pachis, J (2010) Relationships among leadership practices, work environments, staff communication and outcomes in long‐term care Journal of nursing management, 18(8), 1060-1072 80 Tredget, D (2002) “The Rule of Benedict” and its relevance to the world of work Journal of Managerial Psychology,17(3), 219-229 81 Tummers, L G., Groeneveld, S M., & Lankhaar, M (2013) Why Do Nurses Intend to Leave Their Organization? A-Large Scale Analysis in Long- term Care Journal of Advance Nursing, 69(12), 2826-2839 82 Vasquez, D., 2014 'Employee Retention for Economic Stabilization: A Qualitative Phenomenological Study in the Hospitality Sector' International Journal of Management, Economics and Social Sciences, 3(1) 83 Walker, J W (1980) Human resource planning McGraw-Hill College,24 (1), 610 84 Wakabi, B M (2013) Leadership Style and Staff Retention in Organsiations International Journal of Science and Research 56 85 Whitcomb, J., 2012 L&D Best Practices: Employee Retention [Online]Available at: http://ezproxy.ncirl.ie:2967/media/pq/classic/doc/2839201121/fmt/pi/rep/NONE?hl =&cit%3Aauth=Whitco mb%2C+Judy&cit%3Atitle=Employee+Retention&cit%3Apub=Training&cit%3Av ol=49&cit%3Aiss=6&cit%3Ap g=52&cit%3Adate=Nov%2FDec+2012&ic=true&cit%3Aprod=ProQuest+Busin[Ac cessed 15 July 2019] 86 Wofford, J and L Z Liska (1993) "Path-goal theories of leadership: A metaanalysis." Journal of management 19(4): 857-876 87 Zineldin, M (2000), TRM Total Relationship Management Student litterateur, Lund 88 Wilson, J (2010), “Essentials of Business Research: A Guide to Doing Your Research Project”, SAGE Publications, p.7 89 Gulati, PM, (2009), Research Management: Fundamental and Applied Research, Global India Publications, p.42 90 Babbie, E R (2010), “The Practice of Social Research” Cengage Learning, p.52 57 APPENDIX I This survey is designed to measure the factors affecting employee retention in TOPICA Edtech Group Thank you for taking your time and effort to complete this survey Please answer all the questions The information collected from this survey is strictly confidential and will be used only for this research Part 1: General question Question 1: What is your group of ages? Answer: From 18 to 22/ From 22 to 24/ From 24 to 28/ From 28 to 35/ Above 35 Question 2: What is your gender? Answer: Male/ Female/ Other Question 3: How long have you been working in TOPICA? Answer: Below months/ From months to years/ From years to years/ Above years Question 4: Have you ever referred you friends to apply to work in TOPICA? Answer: Yes/ No Part 2: Research Questionnaire Scales of Compensation and Benefit factor Factors Questions Code Your salary allows you to afford your living condition CB1 Agreed level 5 5 Company has financial supports when you work Compensation overtime or in the day-off and national holiday and Benefit (CB) such as Tet holiday, Independence Day… CB2 Company provide basic benefits such as medical insurance, social insurance… CB3 TOPICA annually pays for employee summer teambuilding holiday CB4 58 Scales of Reward and Recognition factor Factors Questions Code Agreed level You satisfy with the annual reward and recognition after company annual evaluation RR1 significant contribution to the company RR2 Company has attractive non-financial rewards RR3 Reward and Your work team, department has in-time reward Recognition and public recognition whenever you have a (RR) Scales of Working Environment factor Factors Questions Code Agreed level Company creates open working environment that supports you to complete their tasks Working Environment (WE) efficiently WE1 WE2 WE3 TOPICA workplace facilities are clean, modern and available to support your works Your colleagues are nice and professional that help you to teamwork effectively Scales of Training and Development factor Factors Questions Code Agreed level TOPICA organizes orientation training program about company history, mission and vision, Training and culture and working mindset Development You have your own supervisor who coaching (TD) you personally during your trail working period TD1 TD2 TD3 You are provided a clearly career path guideline when you start working in the company 59 Scales of Corporate Culture factor Factors Questions Code Agreed level TOPICA have signature artifacts that differ TOPICA‟s employees cfrom other start-up company staffs CC1 CC2 CC3 You understand TOPICA vision and mission and Corporate Culture (CC) want to try your best to make this vision and mission become reality TOPICA principal mindsets and skillsets make you believe that the way TOPICA chooses, and the way TOPICA solves is right to make TOPICA become the leading technological education enterprise in ASEAN Scales of Leadership Style factor Factors Questions Code Agreed level The leadership style of you direct manager changes properly base on specific situation to get the best result LS1 LS2 LS3 LS4 Your direct manager encourages his/her staffs to raise their own voice while doing teamwork and Leadership meeting and respect employees‟ opinion and Style (LS) decision Your direct manager always evaluate employee working performance based on data Your direct manager always asks his/her staff to focus on reaching the objectives and key results even if the whole team have to work overtime 60 Scales of Employee retention Factors Questions Code Agreed level You want to work in TOPICA for at least months ER1 ER2 ER3 Employee retention (ER) You have plan to develop your career as manager/expert in TOPICA in the future If another company offers a job with good salary and benefits, you will consider to stay at TOPICA 61 APPENDIX II Table 1: Table of gender statistic Gender Valid Frequency Percent Valid Percent Cumulative Percent Male 29 40.8 40.8 40.8 Female 42 59.2 59.2 100 Total 71 100 100 Table 2: Table of age statistic Frequency Percent Valid Percent Cumulative Percent 18-22 2.8 2.8 2.8 22-24 23 32.4 32.4 35.2 24-28 32 45.1 45.1 80.3 28-35 12 16.9 16.9 97.2 Over 35 2.8 2.8 100.0 Total 71 100.0 100.0 Age Valid Table 3: Table of working seniority statistic Frequency Percent Valid Percent Cumulative Percent 10 14.1 14.1 14.1 29 40.8 40.8 54.9 20 28.2 28.2 83.1 Over years 12 16.9 16.9 100.0 Total 71 100.0 100.0 Working seniority Valid Under months From months to years From years to years Table 4: Table of referral intention statistic Frequency Percent Valid Percent Cumulative Percent No 27 38.0 38.0 38.0 Yes 44 62.0 62.0 100.0 Total 71 100.0 100.0 Referral intention Valid 62 Table 5: Table of descriptive statistic of research variables Descriptive Statistics Std N Range Minimum Maximum Mean Deviation Variance Statistic Statistic Statistic Statistic Statistic Statistic Statistic Statistic Error Statistic Error CB1 142 3.82 1.046 1.095 -0.930 0.285 0.900 0.563 CB2 142 3.83 1.207 1.457 -0.919 0.285 0.036 0.563 CB3 142 4.08 1.228 1.507 -1.166 0.285 0.287 0.563 CB4 142 4.06 1.145 1.311 -1.112 0.285 0.415 0.563 RR1 142 3.58 1.155 1.333 -0.653 0.285 -0.224 0.563 RR2 142 3.39 1.115 1.242 -0.395 0.285 -0.330 0.563 RR3 142 3.10 1.173 1.376 -0.251 0.285 -0.615 0.563 WE1 142 3.94 1.040 1.082 -1.060 0.285 0.962 0.563 WE2 142 3.11 1.166 1.359 -0.281 0.285 -0.752 0.563 WE3 142 3.94 0.984 0.968 -0.996 0.285 0.921 0.563 TD1 142 3.65 1.016 1.031 -0.669 0.285 0.307 0.563 TD2 142 3.61 1.062 1.128 -0.469 0.285 -0.463 0.563 TD3 142 3.21 1.120 1.255 -0.181 0.285 -0.662 0.563 CC1 142 3.70 0.977 0.954 -0.882 0.285 0.889 0.563 CC2 142 3.63 1.018 1.035 -0.291 0.285 -0.639 0.563 CC3 142 3.68 1.079 1.165 -0.647 0.285 -0.092 0.563 LS1 142 3.58 1.023 1.047 -0.298 0.285 -0.345 0.563 LS2 142 3.69 1.129 1.274 -0.644 0.285 -0.353 0.563 LS3 142 3.73 1.121 1.256 -0.700 0.285 -0.221 0.563 LS4 142 3.87 1.055 1.112 -0.943 0.285 0.608 0.563 ER1 142 3.59 1.190 1.416 -0.459 0.285 -0.653 0.563 ER2 142 3.49 1.241 1.539 -0.422 0.285 -0.690 0.563 ER3 142 3.08 1.216 1.478 -0.166 0.285 -0.837 0.563 Valid N 142 Skewness Kurtosis Std (listwise) 63 Std Table 6: Table of Cronbach analysis result of the research Observed Scale Mean if Variables Item Deleted Scale Corrected Item- Variance if Total Item Deleted Correlation Cronbach's Alpha if Item Deleted I Compensasion and benefits: α=0,729; N=4 CB1 11.97 8.399 0.389 0.737 CB2 11.96 6.584 0.616 0.609 CB3 11.70 6.611 0.592 0.624 CB4 11.73 7.485 0.488 0.687 II Reward and recognization: α=0,848; N=3 RR1 6.49 4.054 0.798 0.708 RR2 6.68 4.394 0.740 0.767 RR3 6.97 4.599 0.620 0.880 III Working environment: α=0,772; N=3 WE1 7.06 3.168 0.627 0.531 WE2 7.89 3.159 0.496 0.701 WE3 7.06 3.654 0.518 0.664 IV Career Development: α=0,841; N=3 CD1 6.82 3.923 0.699 0.785 CD2 6.86 3.637 0.741 0.743 CD3 7.25 3.621 0.678 0.807 V Corporate Culture: α=0,756; N=3 CC1 7.31 3.588 0.490 0.774 CC2 7.38 2.925 0.689 0.551 CC3 7.34 2.998 0.587 0.673 VI Leadership Style: α=0,883; N=3 LS1 11.30 8.211 0.788 0.835 LS2 11.18 7.695 0.785 0.834 LS3 11.14 7.666 0.800 0.828 LS4 11.00 8.886 0.618 0.896 VI Employee Retention: α=0,872; N=3 ER1 6.58 4.876 0.819 0.762 ER2 6.68 4.765 0.793 0.785 ER3 7.08 5.393 0.660 0.904 64 Table Table of KMO and Bartlett's Test result KMO and Bartlett's Test Kaiser-Meyer-Olkin Measure 0.838 of Sampling Adequacy Bartlett's Approx Chi- Test of Square Sphericity df 714.352 120 Sig 0.000 Table Total Variance Explained test result Total Variance Explained Initial Eigenvalues Extraction Sums of Squared Loadings Rotation Sums of Squared Loadings Com pone nt Total % of Cumulative Variance % Total % of Cumulative Variance % % of Total Variance Cumulative % 7.67 47.92 47.92 7.67 47.92 47.92 4.33 27.03 27.03 1.72 10.76 58.68 1.72 10.76 58.68 3.24 20.23 47.26 1.14 7.14 65.82 1.14 7.14 65.82 2.97 18.56 65.82 0.94 5.85 71.68 0.81 5.07 76.75 0.64 4.03 80.77 0.53 3.31 84.08 0.51 3.20 87.28 0.45 2.84 90.12 10 0.34 2.15 92.27 11 0.34 2.12 94.40 12 0.27 1.68 96.08 13 0.22 1.41 97.48 14 0.18 1.13 98.61 15 0.13 0.83 99.44 16 0.09 0.56 100.00 65 Table Table of rotated Component Matrixa test result Rotated Component Matrixa Component TD2 0.822 TD3 0.788 TD1 0.784 CC2 0.683 WE1 0.658 WE2 0.599 WE3 0.560 CC3 0.539 LS3 0.851 LS1 0.803 LS2 0.801 CB3 0.857 CB2 0.732 RR1 0.648 CB4 0.629 RR2 0.539 Table 10: Table of communalities analysis Communalities CB2 CB3 CB4 RR1 RR2 Initial 1.000 1.000 1.000 1.000 1.000 Extraction 0.659 0.751 0.511 0.655 0.685 WE1 1.000 0.606 WE2 1.000 0.388 WE3 1.000 0.629 TD1 1.000 0.707 TD2 1.000 0.701 TD3 1.000 0.701 CC2 1.000 0.580 CC3 1.000 0.568 LS1 LS2 1.000 1.000 0.791 0.790 LS3 1.000 0.808 Extraction Method: Principal Component Analysis 66 Table 11: Table of the correlation between independent variables Correlation Matrix CB2 CB3 CB4 RR1 RR2 WE1 WE2 WE3 TD1 TD2 TD3 CC2 CC3 LS1 LS2 LS3 CB2 1.000 0.501 0.389 0.532 0.539 0.197 0.186 0.437 0.219 0.137 0.228 0.205 0.341 0.381 0.506 0.420 CB3 0.501 1.000 0.556 0.499 0.393 0.227 0.163 0.394 0.139 0.245 0.257 0.322 0.355 0.290 0.359 0.245 CB4 0.389 0.556 1.000 0.364 0.486 0.386 0.231 0.485 0.386 0.218 0.314 0.374 0.420 0.435 0.412 0.357 RR1 0.532 0.499 0.364 1.000 0.786 0.432 0.259 0.633 0.444 0.421 0.512 0.365 0.416 0.463 0.501 0.508 RR2 0.539 0.393 0.486 0.786 1.000 0.537 0.449 0.516 0.440 0.326 0.573 0.406 0.547 0.561 0.587 0.600 WE1 0.197 0.227 0.386 0.432 0.537 1.000 0.500 0.541 0.522 0.458 0.537 0.547 0.581 0.514 0.472 0.440 WE2 0.186 0.163 0.231 0.259 0.449 0.500 1.000 0.367 0.348 0.440 0.507 0.252 0.370 0.352 0.277 0.231 WE3 0.437 0.394 0.485 0.633 0.516 0.541 0.367 1.000 0.609 0.512 0.503 0.521 0.507 0.515 0.524 0.491 TD1 0.219 0.139 0.386 0.444 0.440 0.522 0.348 0.609 1.000 0.677 0.594 0.634 0.598 0.501 0.427 0.406 TD2 0.137 0.245 0.218 0.421 0.326 0.458 0.440 0.512 0.677 1.000 0.647 0.473 0.298 0.318 0.326 0.222 TD3 0.228 0.257 0.314 0.512 0.573 0.537 0.507 0.503 0.594 0.647 1.000 0.608 0.518 0.440 0.380 0.421 CC2 0.205 0.322 0.374 0.365 0.406 0.547 0.252 0.521 0.634 0.473 0.608 1.000 0.632 0.480 0.410 0.401 CC3 0.341 0.355 0.420 0.416 0.547 0.581 0.370 0.507 0.598 0.298 0.518 0.632 1.000 0.560 0.456 0.494 LS1 0.381 0.290 0.435 0.463 0.561 0.514 0.352 0.515 0.501 0.318 0.440 0.480 0.560 1.000 0.775 0.710 LS2 0.506 0.359 0.412 0.501 0.587 0.472 0.277 0.524 0.427 0.326 0.380 0.410 0.456 0.775 1.000 0.747 LS3 0.420 0.245 0.357 0.508 0.600 0.440 0.231 0.491 0.406 0.222 0.421 0.401 0.494 0.710 0.747 1.000 Table 12: Table of component matrix Component Matrixa Component 0.213 RR2 0.800 WE3 0.781 LS1 LS2 0.764 0.748 0.141 0.298 -0.433 -0.376 RR1 CC3 0.743 0.742 0.234 0.221 -0.103 TD3 0.734 -0.387 0.113 TD1 0.730 -0.417 WE1 0.723 -0.270 -0.103 LS3 CC2 0.711 0.699 0.265 -0.302 -0.482 CB4 TD2 0.608 0.605 0.266 -0.514 0.267 0.266 WE2 0.526 -0.324 CB2 CB3 0.552 0.517 0.567 0.430 67 0.139 0.183 0.546 Table 13: Table of component transformation matrix Component Transformation Matrix Component 1 0.664 0.558 0.497 -0.726 0.324 0.606 0.178 -0.764 0.620 Table 14: Table of Descriptive statistic of grouped factor after running EFA Descriptive Statistics Std N Minimum Maximum Mean Statistic Statistic Statistic Statistic Skewness Deviation Statistic Statistic Std Error CR 142 1.00 5.00 3.7887 0.90830 -1.327 0.285 WECD 142 1.00 4.88 3.4947 0.79884 -0.831 0.285 LS 142 1.00 5.00 3.6667 0.99363 -0.599 0.285 ER 142 1.00 5.00 3.5423 1.16112 -0.542 0.285 Table 15: Model Summaryb test result Model Summaryb Model R R Square 578 a Adjusted R Std Error of the Square Estimate 334 304 Durbin-Watson 96859 1.803 Table 16: ANOVAa test result ANOVAa Model Sum of Squares df Mean Square Regression 31.516 10.505 Residual 62.858 67 938 Total 94.373 70 F Sig 11.197 000b Table 17: Coefficientsa test result Coefficientsa Model Unstandardized Standardized Coefficients Coefficients B (Constant) Std Error 458 Beta 559 Collinearity Statistics t Sig .819 68 416 Tolerance VIF CR 037 186 029 197 844 468 2.135 WECD 585 210 402 2.787 007 477 2.098 LS 318 158 219 2.014 048 547 1.828 Table 18: Levene Statistic of gender group test result Levene's Test for Equality of Variances F Employees' retention Equal variances assumed Equal variances not assumed Sig 0.004 0.947 Table 19: T-test of gender group test result t-test for Equality of Means t Employees' Equal retention variances Sig (2tailed) df Mean Difference Std Error Difference 95% Confidence Interval of the Difference Lower Upper -1.088 69 0.280 -0.30460 0.27997 -0.86312 0.25393 -1.080 58.769 0.285 -0.30460 0.28205 -0.86903 0.25983 assumed Equal variances not assumed Table 20: Table of Post hoc test of age statistic Employees' retention Tukey Ba,b Subset for alpha = 0.05 Age N Over 35 3.0000 18-22 3.2500 24-28 64 3.4531 22-24 46 3.5000 28-35 24 4.0000 Table 21: Table of Post hoc test of working seniority statistic Employees' retention Tukey Ba,b Work exp N Subset for alpha = 0.05 From years to years 20 3.425 From months to years 29 3.5172 69 Over years 12 3.6667 Under months 10 3.7 Table 22: Levene Statistic of age group test result Levene Statistic df1 df2 Sig 3.684 66 0.009 Table 23: Levene Statistic of working seniority group test result Levene Statistic 1.260 df1 df2 Sig 67 0.295 Table 24: ANOVA Statistic of working seniority group test result ANOVA Employees' retention Between Groups Within Groups Sum of Squares 0.728 Total df Mean Square F Sig 0.243 0.174 0.914 93.646 67 1.398 94.373 70 70 ... objective of this research is to analyze the factors affecting employee retention in Topica Edtech Group The researcher will examine what the employees feel about their work and what factors mainly influence... comprises of financial and non-financial rewards that attract, motivate and satisfy valuable 16 human capital, retaining effective performers to aiding competitive advantage of the organization The... 2.3 Research strategy There are two methods of data research which are quantitative and qualitative analysis Qualitative data are non-numerical data which can originate in any form like opinions,