The Impact of Corporate Intrapreneurship on Employee Retention in Nigerian Banks

Abstract

The study investigates the impact of corporate intrapreneurship on employee retention in Nigerian banks, focusing on key elements such as initiative, decision-making, creativity, strategic transformation, and business expansion. Using a purposive sampling approach, data were collected from eight banks listed on the Nigerian Stock Exchange. The findings reveal that corporate intrapreneurship significantly influences employee retention, with initiative, business expansion, decision-making, and creativity demonstrating a positive and significant effect. Among these, initiative exhibited the strongest influence (coefficient = 0.557077, p-value < 0.05), followed by business expansion (coefficient = 0.4497637, p-value < 0.05), decision-making (coefficient = 0.1632493, p-value < 0.05), and creativity (coefficient = 0.1185839, p-value < 0.05). However, strategic transformation had no significant impact (p-value = 0.090). The study concludes that corporate intrapreneurship is a critical driver of employee retention in Nigerian banks, particularly through fostering initiative, innovation, and expansion strategies. It recommends that managers prioritize these elements by cultivating a risk-tolerant culture, encouraging proactive decision-making, and leveraging competitive opportunities to enhance employee engagement and retention. These findings contribute to the understanding of intrapreneurial practices as a strategic tool for workforce stability in the banking sector.