Determinants of Employee Retention at Viglacera Corporation – Joint Stock Company

Employee retention is an important human resource management challenge, particularly for large manufacturing organizations where workforce stability is closely associated with operational continuity and the preservation of organizational knowledge. This study examines the determinants of employee retention at Viglacera Corporation – Joint Stock Company (VGC) and its member companies. Based on relevant perspectives in human resource management, job design, and organizational behavior, the study proposes six determinants of employee retention: compensation, bonuses and welfare benefits; job characteristics; working environment and conditions; career development opportunities; workplace relationships; and organizational culture. Data were collected from 593 employees and analyzed using partial least squares structural equation modeling (PLS-SEM) with SmartPLS 4. The results show that all six proposed factors have positive and statistically significant associations with employee retention. Organizational culture shows the strongest association (β = 0.319), followed by career development opportunities (β = 0.291), job characteristics (β = 0.217), working environment and conditions (β = 0.188), workplace relationships (β = 0.187), and compensation, bonuses and welfare benefits (β = 0.180). The model explains 58.9% of the variance in employee retention. The findings highlight the importance of an integrated HRM approach to retention, with particular attention to organizational culture, career development, and job characteristics. The study contributes empirical evidence from a large Vietnamese corporation with substantial manufacturing operations and provides implications for designing context-sensitive employee retention policies.