The importance of managing intellectual capital in retaining officer-seafarers

A key factor affecting the performance of the world shipping industry is the availability and retention of competent officer seafarers. Using an intellectual capital (IC) framework, this study addresses how shipping companies can improve their management of officer-class seafarers so that retention will be improved. A survey was conducted of Indian sub-continent seafarers to ascertain their perceptions of how their IC was being managed and their intentions to continue in their occupation. Fourteen dimensions of IC were examined but only four were significantly associated with officer retention. The culture of the employing shipping company was the most important. The results provide guidance to shipping companies on how to improve their retention policy.