The Effect of Financial Performance Metrics on Staff Retention in Public Secondary Schools in Enugu State
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Background of the Study
Financial performance metrics are essential tools for evaluating the financial health and sustainability of organizations, including educational institutions. In public secondary schools in Enugu State, Nigeria, financial performance plays a critical role in ensuring effective school operations, maintaining infrastructure, and supporting staff remuneration and development. Staff retention, a key indicator of institutional stability, is influenced by various factors, including financial security, the availability of resources, and job satisfaction. While the relationship between financial performance and staff retention has been explored in various sectors, its significance in the educational context remains under-explored in Nigeria (Nwodo & Eze, 2024).
In public secondary schools in Enugu State, financial performance metrics such as budget management, timely payment of salaries, and resource allocation directly influence staff morale and retention. Financial challenges, such as delayed payments, poor infrastructure, and inadequate teaching resources, often lead to dissatisfaction among teachers, contributing to high turnover rates. On the other hand, schools that manage their finances effectively, ensuring the well-being of staff through timely salary payments, better working conditions, and professional development opportunities, are more likely to experience better retention rates. Thus, understanding the effect of financial performance metrics on staff retention in Enugu State’s public secondary schools is vital for improving educational outcomes and maintaining a stable teaching workforce.
This study will investigate how financial performance indicators such as budget allocation, fund utilization, and financial transparency affect teacher satisfaction and retention in public secondary schools. The findings will provide insights into how better financial management practices can enhance staff retention and contribute to improved educational quality in the state.
Statement of the Problem Staff retention in public secondary schools in Enugu State has been a growing concern, with reports of high turnover rates among teachers. While various factors contribute to this issue, financial performance metrics have a significant role in shaping the retention decisions of staff. Schools facing financial difficulties, such as delayed salaries, inadequate resources, and poor infrastructure, often struggle to retain experienced and qualified teachers. This study seeks to explore the effect of financial performance on staff retention in Enugu State’s public secondary schools and identify strategies for improving retention through better financial management practices.
Objectives of the Study
- To assess the impact of financial performance metrics on staff retention in public secondary schools in Enugu State.
- To evaluate how financial management practices influence teacher satisfaction and retention in the state’s public secondary schools.
- To recommend strategies for improving staff retention in public secondary schools through effective financial performance management.
Research Questions
- What is the relationship between financial performance metrics and staff retention in public secondary schools in Enugu State?
- How do financial management practices in public secondary schools influence teacher satisfaction and retention?
- What strategies can be implemented to improve staff retention in public secondary schools in Enugu State through enhanced financial performance?
Research Hypotheses
- There is a significant positive relationship between financial performance metrics and staff retention in public secondary schools in Enugu State.
- Effective financial management practices positively influence teacher satisfaction and retention in public secondary schools in Enugu State.
- Schools that demonstrate better financial performance metrics experience lower staff turnover rates compared to schools with poor financial performance in Enugu State.
Scope and Limitations of the Study This study focuses on public secondary schools in Enugu State, Nigeria, and examines how financial performance metrics impact staff retention. The study will cover the 2023–2025 period and gather data from school administrators, teachers, and financial officers. Limitations may include difficulty in accessing financial records due to privacy concerns and the potential bias of respondents in sharing their experiences with financial management practices.
Definitions of Terms
- Financial Performance Metrics: Indicators such as budget allocation, fund utilization, and revenue generation used to evaluate the financial health of an organization.
- Staff Retention: The ability of an institution to keep its staff members over time, minimizing turnover rates.
- Public Secondary Schools: Government-funded secondary schools in Enugu State, Nigeria.
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