Factors Affecting the Retention of Faculty in Institute Business: An Empirical study



Acknowledgement

I would take this opportunity to thank my research supervisor, family and friends for their support and guidance without which this research would not have been possible.

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Table of Contents

1INTRODUCTION5

1.1Aims and Objectives7

2LOYOLA MARYMOUNT UNIVERSITY'S MISSION AND CATHOLIC/JESUIT/ MARYMOUNT IDENTITY8

2.1The Encouragement of Learning9

2.2The Service of Faith and the Promotion of Justice10

3RECOMMENDATIONS FOR DEANS AND DEPARTMENT CHAIRS11

3.1Professional Development Policies14

3.1.1Sabbatical Leaves14

3.1.2External Grants Assistance15

3.1.3Internal Grants for Faculty Development16

3.1.4Rains Research Assistant Funds Program17

3.2Work-Life Balance Programs17

3.2.1Work-Life Balance Benefits17

3.2.1.1Counseling18

3.2.1.2Work-Life Issues18

3.3Physical Health Programs19

3.4Spiritual Health and Development Programs19

4TRANSITION TO THE UNIVERSITY PROGRAM20

REFERENCES22

Factors Affecting the Retention of Faculty in Institute Business

Introduction

It has been said that “the excellence of higher education is a function of the kind of people it is able to enlist and retain on its faculties” (Bowen & Schuster, 1986 as cited in Zhou & Volkwein, 2004, p. 139). Higher education researchers believe that “some mobility in academia is good because it provides individuals with greater opportunities for professional achievement or brings new vitality to an academic department” (Zhou & Volkwein, 2004, p. 140). However, Ehrenberg, Kasper, and Rees (1990), Rosser (2004) and Xu (2007) found that a low faculty retention rate creates costly monetary and academic consequences for institutions and academic departments. Monetary consequences include a lost return on a previous investment, the monetary cost of recruiting a replacement, and the time of other faculty diverted to the hiring process. Academic consequences include disruption of research and teaching programs, discontinuity in student mentoring, discontinuities in departmental and student planning, and a loss of graduate student advisors. In an effort to bolster the retention and continued recruitment of outstanding faculty, colleges and universities have developed flexible and accommodating policies and programs to remove obstacles to productivity, improve the integration of life and work, and enhance job satisfaction (Morse, 2009).

Riskin, Yen, and Quinn (2006) assert that while many institutions of higher education have adopted flexible and accommodating faculty retention policies and programs, these benefits can be hidden in manuals, handbooks, and websites. Therefore, faculty may be unaware of their availability or unsure of the details and criteria for eligibility. We created Flexible and Accommodating Faculty Retention Policies and Programs to communicate Loyola Marymount University's interest in retaining its faculty. This reference contains a snapshot of available benefits with links to additional information. LMU's Flexible and Accommodating Faculty Retention Policies and Programs comprises an array of benefits including professional development, leaves and extensions, work-life balance, financial assistance, diversity and inclusion, and programs that aid in the transition to the University.

Professional development policies and programs have been shown to be a contributing factor in faculty retention. Professional development policies and programs at LMU include sabbatical leaves, assistance with ...