Job Satisfaction as a Mediator: Assessing the Impact of Monetary and Non-Monetary Benefits on Employee Retention in Telemedicine

Abstract

Purpose: This research paper aims to explore the challenges associated with employee retention in the telemedicine sector and identifying various strategies to enhance retention rates taking into consideration job satisfaction as a mediator. Design/Methodology: The primary data for this study was collected through questionnaires distributed to healthcare professionals, with 185 fully completed responses out of a total of 205 participants. Employing a combination of purposive and stratified random sampling techniques, this empirical study utilized PLS-SEM for the path analysis. The study revealed that Monetary benefits in comparison to non-monetary benefits play a major role in contributing job satisfaction which in turn leads to employee retention. Findings: The findings reveal that the monetary benefits have greater influence on job satisfaction which leads to better retention rates in the healthcare industry, based on the analysis of survey data from doctors, nurses, and other healthcare staff. These insights can inform retention strategies in healthcare organizations to improve employee satisfaction and reduce turnover rates. Originality: The current study is to identify about the various challenges faced by Telemedicine industry in retaining their employees. Furthermore, this study contributes to the literature as well as practical implication various measure and strategies required to deal with the higher attrition rate in Telemedicine industry.

Keywords: Employee Retention, Attrition, Telemedicine, Employee Turnover, Job Satisfaction, Monetary Benefits, Non-Monetary Benefits, Healthcare Staff, COVID-19 Pandemic, Engaged Workforce

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