The role of managerial accounting in enhancing employee retention: A case study of Dangote Group
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Background of the Study
Managerial accounting plays a critical role in shaping organizational strategies and policies, particularly in areas such as cost management, performance evaluation, and resource allocation (Adeyemo & Sulaimon, 2024). One of the key aspects where managerial accounting practices influence organizational outcomes is employee retention. In large organizations like Dangote Group, which operates in diverse sectors including manufacturing, agriculture, and logistics, managerial accounting systems help ensure that resources are optimally allocated, operational costs are minimized, and employee satisfaction is prioritized. By providing managers with timely and accurate financial information, managerial accounting enables the creation of employee compensation packages, benefits, and performance incentives that promote employee loyalty and reduce turnover rates.
Employee retention has become a critical concern for businesses, especially in competitive sectors where skilled labor is in high demand. In Nigeria, where job security and career development opportunities are significant factors in employee satisfaction, organizations like Dangote Group must leverage managerial accounting practices to identify areas that affect employee retention, such as compensation fairness, career development, and work-life balance. By analyzing financial data, managerial accounting can help organizations develop retention strategies that are both cost-effective and aligned with their business objectives (Olowookere & Ajayi, 2025). This study seeks to evaluate the role of managerial accounting in enhancing employee retention at Dangote Group.
Statement of the Problem
Employee retention is a major challenge for Nigerian organizations, particularly in competitive industries. At Dangote Group, where the workforce is large and diverse, managing employee turnover is critical to maintaining operational efficiency and reducing recruitment and training costs. While managerial accounting is integral to financial decision-making, its role in influencing employee retention strategies has not been adequately explored. This study aims to investigate how managerial accounting practices at Dangote Group contribute to improving employee retention, focusing on the relationship between financial management and employee satisfaction.
Objectives of the Study
- To assess the role of managerial accounting practices in enhancing employee retention at Dangote Group.
- To evaluate the impact of compensation and benefits structures, influenced by managerial accounting, on employee retention at Dangote Group.
- To identify challenges Dangote Group faces in implementing managerial accounting practices that enhance employee retention.
Research Questions
- How do managerial accounting practices influence employee retention at Dangote Group?
- What is the relationship between compensation packages and employee retention at Dangote Group, as influenced by managerial accounting practices?
- What challenges does Dangote Group face in using managerial accounting to enhance employee retention?
Research Hypotheses
- H₀: Managerial accounting practices do not significantly influence employee retention at Dangote Group.
- H₀: Compensation and benefits structures influenced by managerial accounting do not significantly affect employee retention at Dangote Group.
- H₀: Dangote Group does not face significant challenges in using managerial accounting to enhance employee retention.
Scope and Limitations of the Study
This study will focus on Dangote Group and its use of managerial accounting practices to enhance employee retention. Data will be collected through surveys of employees, interviews with HR and finance managers, and analysis of retention-related financial reports. Limitations include potential biases in self-reported data and the difficulty of isolating the effects of managerial accounting practices from other retention factors.
Definitions of Terms
- Managerial Accounting: The use of financial and non-financial data to guide decision-making, cost control, and performance evaluation within an organization.
- Employee Retention: The ability of an organization to keep its employees and reduce turnover rates.
- Compensation Packages: The total financial and non-financial rewards provided to employees, including salaries, benefits, bonuses, and incentives.
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