Enhancing Employee Retention Through Loyalty Programs: Evidence from Nepali Life Insurance Companies
- Publication History
- Published online: September 19, 2026
- DOI
- https://doi.org/10.35877/454RI.qems4778
- Copyright
- Copyright (c) 2026 Prakash Bahadur Chand
- User License
- https://creativecommons.org/licenses/by-nc-sa/4.0
Abstract
This study investigates the impact of employee loyalty programs on retention rates and satisfaction within Nepali life insurance companies, with a particular focus on reward fairness, financial implications, and personalized incentives. A quantitative approach with a descriptive and analytical research design was employed, involving a sample of 384 employees. Data was collected through Likert scale questionnaires, assessing financial rewards, personalized incentives, and perceptions of fairness. The findings reveal that financial rewards and personalized incentives significantly enhance employee satisfaction and retention. While fairness in reward distribution improves satisfaction, it does not directly influence retention, indicating that other factors contribute to employee longevity. The study emphasizes the importance of financial rewards and personalized engagement strategies in loyalty programs and suggests that while fairness promotes satisfaction, it does not have a direct effect on retention. The research contributes to the understanding of loyalty programs in Nepali life insurance companies and highlights the need for further exploration into how various rewards and fairness perceptions impact employees differently.
Keywords
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