Determinants of Employee retirement Intentions Decisions In Private Sector In Kenya: A Survey Of Employees Of Finlay (K) Limited.

Abstract

Retirement refers to the time when an employee reaches the end of his working life. Retirement is regarded as important stage in human development all over the world. Retirement is an inevitable activity in the lives of workers. Factors influencing employee retirement decision studied individual predictors of early retirement are age, financial status and health. For example among older people, those in more favorable financial situation and those in ill health were found to aim for early retirement. Specific objectives; To identify work factors that influence employee’s decision to retire early, To find out work factors that influence employees to postpone retirement and To find out stage in their employment life that such intentions develop. Financial issues- retirement brings many changes to both income and expenditure to the employer. The researcher was use case study research design as it gives a clear representation of the variable under study, The target population was be subdivided into three status  namely:  top management, departmental heads and employees. The data used in the study was obtained from questionnaires that were distributed to the respondents from a sample selected randomly. The purpose of the research study was to assess factors influencing employees’ retirement decision, a case study of James Finlay (K) Ltd. From the findings of the study, it shows that there is a great importance of recognizing the various stages in the employment life so as to motivate employees so that they can perform and improve on the organization productivity. This study has an advanced knowledge by accessing factors influencing retirement decision deeply. In most instances, the research study gained support and courage from prior researches conducted across different organizations in different countries of the world, and therefore, generalizability is not so much of a surprising fact, or similarity in ways of framing it, but this is a unique product.

Key Words: Retirement intensions, Factors, workforce, Decisions