Importance of Salary Packages and Benefits for Employee Turnover in Singapore SME Food Manufacturing Industry

Running head: DISSERTATION
Importance of salary packages and benefits for employee turnover for younger generation in
Singapore SME food manufacturing industry
Name of the Student
Name of the University
Author Note

1DISSERTATION
Acknowledgement
Thank you to all of those who have assisted me, heeded and encouraged me throughout this
study. I am indebted to my supervisor ......................... whose leadership, guidance and
endurance have been infinite. My sincere thanks to all members of the............... [Mention
your university/college name], both staff and students, whose continuous support have made this
thesis possible.
I would like to thank all of the participants in the study: students, teachers and Local Education
Authorities, for the time and help given throughout.
Finally, I thank my family, without whom this thesis would not have been started or completed!
Your encouragement and support have never faltered; thank you.

2DISSERTATION
Abstract
The aim of the research is to understand the importance of the salary packages and benefits and
its impact on the employee turnover rate of the younger generation in Singapore small and
medium enterprise (SME) food manufacturing industry. In this respect, Chapter one of the
research focuses on the purpose of the research study under investigation. This chapter also
emphasis on the different research objectives and research questions which are examined and
answered in the course of the research work. Chapter two discusses the previous sources of
literature that has already been done in this particular field. In this respect, this chapter examines
the different books, academic journals and articles which deals with the food manufacturing
industry of Singapore. Furthermore, this chapter also looks at the various reasons which affect
the salary benefits of the employees. Chapter three notes down the research methodology which
is followed in order to execute an effective research work. The positivism research philosophy
has been adhered to in this research study, along with deductive research approach and
descriptive research design. The researcher has surveyed several employees who work in the
food manufacturing sector of Singapore. The results from this survey has been analyzed with the
help of quantitative analysis so as to get an objective understanding of the data so collected.
Chapter four analyzes all the findings of the research in the previous chapters. This information
is linked to the data collected from the literature review section so as to give a concrete
understanding to the research questions. In this respect, this chapter has analyzed the data with
the aid of co-relation analysis and regression analysis. Chapter five aligns this data derived with
the information collected in the literature review section in order to understand how the elements
of salary packages and benefits impact the factor of employee turnover rate. Chapter six provides
the concluding chapter of the research study under investigation. This chapter links the research

3DISSERTATION
objectives so as to get a holistic idea about the research work. This chapter also provides certain
recommendations as to how the salary packages can be improved so that the employee turnover
rate is positively impacted upon.

4DISSERTATION
Table of Contents
Chapter 1: Introduction..................................................................................................................10
1.0 Overview..............................................................................................................................10
1.1 Problem Statement...............................................................................................................11
1.2 Research Aim.......................................................................................................................12
1.3 Research Objectives.............................................................................................................12
1.4 Research Questions..............................................................................................................12
1.5 Research Rationale..............................................................................................................13
1.7 Summary..............................................................................................................................13
Chapter 2: Literature Review.........................................................................................................15
2.0 Overview..............................................................................................................................15
2.1 Conceptual Framework........................................................................................................15
2.2 Meaning of salary packages.................................................................................................16
2.4 Meaning of Benefits............................................................................................................17
2.3 Meaning of employee turnover rate.....................................................................................17
2.4 Factors affecting the salary packages of the employees......................................................18
2.5 Factors affecting the benefits that are given to the employees............................................25
2.6 Factors influencing the employee turnover rate..................................................................27
2.7 Salary packages and benefits impacting the employee turnover rate..................................29
2.8 Singapore SME food manufacturing industries...................................................................30

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2.9 Hypothesis...........................................................................................................................30
2.10 Summary............................................................................................................................30
Chapter 3: Research Methodology................................................................................................32
3.0 Over view.............................................................................................................................32
3.1 Research Framework...........................................................................................................32
3.2 Research Philosophy............................................................................................................32
3.3 Research Approach..............................................................................................................33
3.4 Research Strategy................................................................................................................33
3.5 Research Instrument............................................................................................................34
3.6 Survey Design......................................................................................................................34
3.7 Population and Sampling.....................................................................................................35
3.8 Ethical Considerations.........................................................................................................35
3.9 Data Collection and Analysis..............................................................................................35
3.10 Limitations.........................................................................................................................36
3.11 Summary............................................................................................................................36
Chapter 4: Data Findings and Analysis.........................................................................................37
4.0 Over view.............................................................................................................................37
4.1 Descriptive analysis.............................................................................................................37
4.1.1 Demographic analysis...................................................................................................37
4.2 Inferential analysis...............................................................................................................53

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4.2.1 Co-relation analysis......................................................................................................53
4.2.2 Regression analysis.......................................................................................................62
4.3 Summary..............................................................................................................................64
Chapter 5: Discussion....................................................................................................................66
5.0 Over view.............................................................................................................................66
5.1 Data Analysis.......................................................................................................................66
5.2 Summary..............................................................................................................................71
Chapter 6: Conclusion and Recommendation...............................................................................72
6.0 Conclusion...........................................................................................................................72
6.1 Linking with objectives.......................................................................................................72
6.2 Recommendation.................................................................................................................73
6.3 Future Scope of study..........................................................................................................74
References:....................................................................................................................................76
Appendix........................................................................................................................................87
Questionnaire.............................................................................................................................87

7DISSERTATION
List of Figures
Reference Figure Page Number
Figure 1 Conceptual Framework 14
Figure 2 Pie chart distribution of
gender
35
Figure 3 Bar diagram of gender 36
Figure 4 Histogram distribution of
gender
37
Figure 5 Pie chart distribution of age 38
Figure 6 Bar diagram of age 39
Figure 7 Histogram distribution of age 40
Figure 8 Pie chart distribution of
current job level
41
Figure 9 Bar diagram of current job
level
42
Figure 10 Histogram distribution of
current job level
43
Figure 11 Pie chart distribution of scale
of organization
44
Figure 12 Bar diagram of scale of
organization
45
Figure 13 Histogram distribution of
scale of organization
46