Introduction

The competition to retain the key employees is fierce. It has become very crucial to retain the
key employees as they are the people who help the ABC Bank to achieve its strategic business
objectives. When an employee is hired a significant cost is incurred behind the hiring process but
still cost is not the reason of retaining the employees it's the knowledge and experience which
key employee acquired during their tenure period.
Literature Review
This title is based on Projects based on past related to the topic employee retention. The aim of
this title is to provide the ground for the Project.
(Ram all, 2003) when an employee is hired, a significant cost is incurred behind the hiring
process, so it has become very crucial to retain the employees and when more employees quit the
job it impacts the organization in a long term as well which constrain the organization to achieve
its strategic objectives of the business and also effect the innovation and consistency of an
organization which effects the organization completely and profit get suffered. It's not only the
cost which matters the organization when an employee leave but also the knowledge which the
employee has acquired during his tenure. In order to retain employees, organization should know
that how much their employees are committed with the organization and should provide the
employees with such an environment where they want to stay. There are many factors due to
which employees are most likely to do their jobs but the most favorable factors are location of
the company, compensation, the job itself, the security, organizational culture, challenge, training
and development, empowerment and attractive benefits. The factors which make employees to
leave the job are salary, job recognition, in effective leadership, inadequate emphasis on
teamwork, not having the opportunity for flexible work schedule, lack of trust in senior
management, inadequate opportunity for training and development and low overall job
satisfaction the most significant factors which employee choose were salary at the top then lack
of career advancement opportunities. The job itself is a key to employee motivation and the
factors like skill variety, task identity, task significance and feedback enhances the motivation. To
retain the critical employees is important because they perform more efficiently than the average
workers and increases the productivity, motivation and company's output and helps in achieving

the competitive advantage over the current and potential competitors. To retain the critical
employees and hinders turnover organization should do some proactive efforts.
According to (Mitchell & Haltom, 2001) the voluntary turnover is might be due to personal
reasons, asks to do something which is against ones belief and etc. Turnover is considered as a
problem for both individual and organization due to the cost which is faced by both of them. For
an individual it is a problem because a new job has all the things new in it i.e. the environment,
colleagues, supervisors and etc. and it requires time and adjustments to set in a new work setup
and for an organization it is a problem because when an employee leaves the organization he/she
takes the knowledge and experience with them and sometimes employee develop such strong
rapport with the clients which when leaves might have adverse effect on the clients and the other
costs include the whole replacement process. It is very important for the organization to retain
the talent and to retain the employees which are valuable and cannot be replaced by another. Job
satisfaction and job alternatives are the two major factors to consider as an employee is satisfied
with the job economically, work environment and growth in the organization the less the chances
to leave the organization, and the more an employee is dissatisfied with the job he/she goes for
the other alternatives and many likely to quit the job. Job satisfaction is more important for an
organization to retain employees than the job alternatives. As job satisfaction can be provided by
the organization but have control on job alternatives is not possible. Shocks i.e. events which
make employees to leave might be positive and negative as well. Job offers is a positive shock
which make the employee to quit the job and the events like poor appraisals, mergers and
changes in compensation plan are considered as negative shocks. The job embeddedness is
necessary in the job which consists of links, fit and sacrifice. In links, employees are encouraged
to build their own networks with the clients. Many organizations consider these links important
on the job and encourage employees to develop links with the clients. Fit is described as more
the employee feels fit in the job the less are the chances to leave the job, and this fit is more
important at the initial stage when a new employee joins the job because according to one recent
survey conducted by Caliper reported that 40 percent of the employees leave the job because
they feel unfit for the job. Organizations widely use flex-time options to encourage employees fit
with off-the-job environment as well. According to one of the retention champion companies
should recruit their good performers and their jobs should be customized. Finally sacrifice
embeds the employees as if they leave the job what incentives and benefits they have to sacrifice.

Many organizations have long term development programs for their employee and if the
employees leave the job they have to give up them. Sacrifice includes the financial incentives as
well e.g. retention bonuses, retirement funds, stock options and golden handcuffs. Such
incentives help in retaining the employees. Different companies use different approaches to
retain the employees e.g. some companies have long term development plans for the employees
which they make with the participation of the employees. Some companies provide the
employees with the personal development funds to retain top employees and employees with the
help of this fund can get training on any topic by which they can enhance their performance. So
job embeddedness helps in employee retention. A person who is dissatisfied with his job and has
a lower organizational commitment will soon quit the job even the organization is paying
millions of dollars to him/her. Retention cannot be achieved solely tABC Bankough money other
internal and external factors should be considered. When developing a retention plan company's
leader must survey all the factors and choose those factors which will be helpful in keeping the
employees.
(GutABC Bankie, 2001) a significant investment is required when organizations extensively uses
high-involvement work practices. Investments in human capital are more useful when it gives
results in the long run and increases the productivity. Organizations use high-involvement work
practices when employees play key role to the organizational success. By doing so it also helps
in retaining employees and helps in avoiding turnover. Employees are considered as more critical
when organization uses high work involvement practices because such organization is employeecentric where everything revolves around the employees. The sense of responsibility and
accountability of the task. Human resource department of the organizations which are employeecentric develop and support the employees to self-manage and self-program. Human resource
practices helps in achieving the competitive advantage by encouraging employees to make such
contributions to the success of the organization which is unique, valuable and hard for the
competitors to copy and employees which contribute in such a way becomes critical for the
organization and impose a significant cost if they leave the organization. There is a strong
correlation between the employee retention and productivity where human resource makes the
employees more committed with the organization. High work involvement practices impacts on
the productivity of the organization that when employees are highly involve in the organization
employees tends to leave less and when employees are not highly involve in the organization

they tend to leave more. Employees who are extensively involve in work practices have the
specialized knowledge due to the experience and tenure and cannot be replaced easily.
(Curtis & Wright, 2001) describe that staff turnover depends upon the nature of the job. If the job
is of fast food restaurant then the young staffs is required and for which turnover is necessary,
but for the job associated with expertise it's important to retain employees. When an employee is
hired an extensive cost is incurred behind the whole process. But some employees leave the job
after few days which have an adverse effect on organization. An organization must be able to
provide such an environment where employees can make themselves committed. The more an
employee is committed with the organization the more he/she will be attached with the
organization and likely to do more hard work. The employees will be more emotional if they feel
it in the team; the encouragement from the manager; feels to have fair treatment getting positive
and fair feedback on their work, and feel valuable by employee involvement and participation.
Employees will be more committed with an organization if they get competitive pay from the
employer, get wider career opportunities, get flexible work options and get flexible benefits.
Designing job is such a way where employees can maximize skill variety, task significance,
anatomy and feedback and gets proper training whenever required can make them more
committed to a job.
(Ram all, 2004) explained employees retention practices with respect to motivation theories
which helps in increasing organization performance. It is very necessary to retain the critical
employees as according to one study if 10 managerial and professional employees leave the job
it costs about $1 million to the organization. Knowledge is one of the valuable assets for the
organization and also helps in customer satisfaction. Knowledge management give chances in
increasing the organizational performance.
Contextual Framework
(Mitchell & Haltom, 2001) indicated that the competition to retain key employees is intense.
They stated that turnover is a problem because it imposes extensive costs on both individual and
ABC Banks employees always are not necessarily retained tABC Bankough money; there are
several factors which keep employees to do their work and it is the leader job to select the right
factors to retain the employees which are fruitful for both employees and ABC Bank.

(Ram all, 2003) describe the reasons for choosing the corporation as an employee and potential
reasons for leaving the ABC Bank and stated that it the critical employees will be lost the
company suffers in terms of output, efficiency, motivation and productivity. Eventually if an
ABC Bank is able to retain its key employees then the company could achieve its strategic
business objectives and if ABC Banks are proactive in retaining its right employees that
understand their needs and wants then the chance of losing the key employee can be reduced.
Curtis & Wright, 2001) stated that if employees are quitting their jobs rapidly and the turnover
rate is very high then it would be harmful for the factors such as quality, customer service which
lead to competitive advantage and thereby inhibiting business growth which eventually bring a
decline in the business. The managers and other key staff should recognize the value of retaining
key employees and employee commitment as there is a direct relationship between employee
retention and employee commitment.
INDUSTRY BACKGROUND
Banks play very optimistic and significant role in the overall economic growth of the
Banka ABC has a well-developed banking system, which includes a wide variety of foundations
ranging from a central bank to commercial banks. The Bank started without any meaningful
banking system in 1947 but observed spectacular growth in the first two decades. Banking
started in ABC after the bold decision of formulation of SBP on July 30, 1948. By 1970, it had
obtained a successful banking sector. In 1974 banks were nationalized, in the expectation that
new era of growth could be attained tABC Bankough it.
Nationalization of banks in the seventies was a major trouble to domestic banking industry of the
Bank, which transformed the whole features of the banking industry. Nationalization of banking
industry brought aggressive changes in the external value of rupee.
The government of ABC allowed small private sector banks to run in the Bank, which indulges
in doubtful policies to promote business. The public sector banking, which form the backbone,
thus continued to suffer because of their approach, size and carried over liabilities. A In the in the
meantime, western banks started coming into the business. They, with the backing of ruling elite,
focused on the big business, making local banks to do the routine business t. This reduced the
revenue of the local banks.

The banking system is going tABC Bankough a hard phase due to political interference in the
functioning of the nationalized banks by the different governments in the past.
PROJECT QUESTIONS AND OBJECTIVES
Project Aim
The purpose of this Project is to determine the factors influencing in retaining key employees,
how ABC Banks manage key employee retention and what are the factors which make
employees to quit their jobs. In order to reach this purpose Project questions were developed and
a literature review was conducted to get the conceptual framework for the data to be conducted
for this study. A qualitative Project approach following the phenomenology Project design has
been chosen to find the answers of the Project questions. The factors which were identified
during the Project to retain the key employees are motivation, job satisfaction, participative
environment, career opportunities, training, benefits and fair treatment.
Project Questions
1. What are the most influencing factors in retaining the key employees in ABC?
2. What are the factors which make the employees to quit their jobs in ABC?
Project Objectives
1. To identify the employee retaining factors in ABC Bank.
2. To determine the factors which make employees to give up their jobs from ABC bank?
3. To identify the factors that keep employees to do their jobs under effective retention
policy.
PROJECT METHODOLOGY
The 20th Century begins with one major Project to educational Project quantitative Project-and
ended with two major approaches quantitative and qualitative Project.
Project lies somewhere on the continuum from quantitative to qualitative Project (Reinhardt &
Cook, 1979). Qualitative Project is a type of Project in which the Project lies on the views of
participants; asks broad, general questions; collect data consisting largely of words (or text) from
participants; describe and analyze these words for themes; and conduct the inquiry in a

subjective based manner. Qualitative Project explores attitudes, activities and practices tABC
Bankough such techniques as interviews or center groups. It endeavors to get an in-depth view
from members. As it is thoughts, activities and practices which are important, fewer people take
part in the Project, but the connection with these people have a tendency to last lot longer. Under
the roof of qualitative Project there are many different methodologies.
Quantitative Project generates statistics tABC Bankough the use of large-scale analysis Project,
using techniques such as questionnaires or planned interviews. If a market Projector has clogged
you on the streets, or you have filled in a questionnaire which has arrived tABC Bankough the
post, this falls under the umbrella of quantitative Project. This type of Project reaches many more
people, but the contact with those people is much quicker than it is in qualitative Project.
Over the years there has been a large amount of complex discussion and argument surrounding
the topic of Project methodology and the theory of how inquiry should proceed. Much of this
debate has centered on the issue of qualitative versus quantitative inquiry - which might be the
best and which is more 'scientific'. Different methodologies become popular at different social,
political, historical and civilizing times in our development and in my opinion, all methodologies
have their specific strengths and weaknesses. These should be recognized and addressed by the
examiner. Indeed if you were to do so, it would help you to think about your Project
methodology in considerable depth.
Project Philosophy
The approach which is chosen for this Project is qualitative Project.
According to (Dentin & Lincoln, 2002), qualitative Project involves in interpretive and
naturalistic approach: " this means that qualitative Projects study things in their natural selling's,
attempting to make sense of, or to interpret, phenomenon in terms of the meaning people bring to
them.
The topic of the Project is the factors influencing in retaining the key employees which is related
more with the perceptions and human behavior of the employees that how employee` perceive
these factors which is subjective in nature and an in depth study.
Project Design

Project design is a master plan specifying the methods and procedures for collecting and
analyzing the needed information. It is a framework or blueprint that plans the actions for the
Project (G., Ziknumd, 2002).
The Project design used here is phenomenology. Phenomenology literally means the study of
phenomena. It is a way of describing something that exists as part of the world in which we live.
Phenomenon may be events, situations, experiences or concepts (Beverley Hancock).
Phenomenology word is hard to articulate and those who listen to the word for the first time
often ask the meaning of it first.
The seven widely accepted features of the Phenomenological Approach are:
1. Phenomenologist's tend to oppose the recognition of unobservable matters and grand systems
erected in speculative thinking;
2. Phenomenologist's tend to counter naturalism (also called objectivism and positivism), which
is the worldview growing from modern natural science and technology that has been spreading
from Northern Europe since the revitalization;
3. Positively speaking, phenomenologist's have a tendency to give explanation for cognition (and
some also valuation and accomplishment) with reference to what Edmund Husserl
called Evident, which is awareness of a matter itself as disclosed in the most clear, distinct, and
adequate way for something of its kind;
4. Phenomenologist's tend to believe that not only objects in the natural and cultural worlds, but
also ideal objects, such as numbers, and even conscious life itself can be made evident and thus
known;
5. Phenomenologist's tend to hold that inquiry ought to focus upon what might be called
"encountering" as it is directed at objects and, correlatively, upon "objects as they are
encountered" (this terminology is not widely shared, but the emphasis on a dual problematic and
the reflective approach it requires is);
6. Phenomenologist's tend to recognize the role of description in universal, a priori, or "eidetic"
terms as prior to explanation by means of causes, purposes, or grounds; and

7. Phenomenologist's tend to discuss whether or not what Husserl calls the transcendental
phenomenological epoch and reduction is useful or even achievable.
As the focus of the study is to find out the factors which are helpful in employees retention, the
Project design that has been chosen is phenomenology because here the experiences of the
professionals has to be shared that which factors they feel that are more important in key
employee retention.
Project Purpose
(Yin, 1994) mentions that scientific Project has tABC Bankee purposes: explore, describe or
explain. (Eriksson & Paul, 1997) put this distinction between purposes into categories. They
divide Project into tABC Bankee different categories; exploratory, descriptive & explanatory.
Exploratory Project
It provides greater understandings of the concepts or crystallizes a problem, rather than providing
precise measurement or quantification.
Project Strategy
This Project is qualitative in nature in which the factors influencing in retaining the key
employees will be analyzed. To get the answers of the Project questions the phenomenology
design will be followed and data will be collected tABC Bankough in depth interviews from
banking industry. Finally the meaning is constructed with the help of the themes derive from the
transcription of the interviews.
Sampling
Sampling is the process of using a small number of items or parts of a larger population to make
conclusions about the whole population. There are several alternative ways of taking a sample.
The major alternative sampling plans may be grouped into probability techniques and nonprobability techniques (Sigmund, 2002).

Banking industry is selected to conduct the Project as a competition to retain the key employee is
fierce there. Four banks are focused to collect the data where one subject from each bank is
taken.
The purposive sampling technique is used as according to (Sigmund, 2002) purposive sampling
is a non-probability sampling in which techniques, in which an experienced individual selects the
sample based upon some appropriate characteristics of the sample members.
Data Collection Technique
The data is collected tABC Bankough in depth interviews from a human resource manager at
each bank. The in depth interviews is un structured in nature where the interviewer does not have
the list of questions but have a clear understanding and ideas about the aspects which are to be
explored.
Data Analysis
The data collected tABC Bankough interviews is transcribed with the help of field notes and
audio recordings. The themes are derived from the transcription of data and finally the meaning
is constructed.
Trustworthiness
Before finalizing the Project draft was send to respondent in order to review whether their words
are perceived as they wanted to be or not.
Ethical Consideration
The data is collected by the approval of the respondents and all the information of the
respondents will be kept confidential.

Data collection - Qualitative questionnaire

Having established the most appropriate research method to be used, namely qualitative method,
it is critically important to gain a good understanding of the format and the design of the
questionnaire. Moser and Kalton (1971 cited Easterby-Smith, Thorpe and Lowe 2002) and more
recently Hussey and Hussey (1997) distinguished two main features when designing a
questionnaire, firstly the type of questions to be included and secondly the overall format of the
questionnaire.
The two question types are factual or opinion based. Factual questions result in definite answers
where as in opinion based questions there is neither a right or wrong answer; indeed this is why
opinion questions are so useful as they allow for the participant to express themselves more
freely. There is also the issue of open and closed questions to consider. Closed questions are
quick to complete and analyse but the data tends to be superficial. Opened questions on the other
hand allow for development of an answer in the pursuit of richer veins of information, however
they are hard to analyse and time-consuming (Easterby-Smith, Thorpe and Lowe 2002).

The second questionnaire issue is its format. Easterby-Smith, Thorpe and Lowe (2002) suggested
the following four points to consider when designing a questionnaire:
* Provide a short cover letter explaining the purpose of the research and why the respondent was
chosen
* Provide brief instructions with the questionnaire explaining how to fill it
* Vary the type of questions, but keep similar themed questions bunched
* Start with sample fact based questions and then move on to the more complicated opinion
based questions

A copy of the cover letter and the followed rules are included in appendix 1, which helped to
gain positive feedback from the respondents. The questions were left open ended resulting in the
person filling them to interpret the way they saw it.

The questionnaire given to operational level staff of ABC Bank had an element of quantitative
approach and this was not deemed as inappropriate as the information gained from this helped to
establish possible reasons for staff turnover and their demographics.

Limitations
The main limitation was the sample size and the difficulty in accessing ABC BANK managers of
the selected competitor Banks in Hastings due to their busy working schedules.
Data collection tools
Dey (1993) states that "collecting data always involves selecting data and the techniques of data
collection will affect what finally constitutes 'data' for the purposes of the research". Merriam
(1998) notes that a researcher should seek to apply those data collection techniques that are
consistent with the researcher's theoretical orientation, and are likely to yield sufficient data
about the chosen area of concern. Saunders et al. (2003) add that a researcher should pay great
deal of attention to both data collection tools as well as to data which is to be collected.
The main data collection was based on the use of in-depth and open ended interviews and
structured questionnaires. Interviews were used to collect insightful data from the senior
management and the ABC BANK manager of the ABC Bank and the ABC BANK managers of
selected competitor Banks in Hastings. Merrian(1998) suggests that "interviewing is sometimes
the only way to get data".
Questionnaires were also used as they increase the validity and reliability of the data. Saunders et
al,(2003) note that the design of the questionnaire is likely to affect the response rate and the
validity and reliability of the data collected.

General Procedure
The research as stated before was carried out using a qualitative approach as it was decided this
was the best method to gain in-depth information from the targeted participants. The ABC

BANK manager in the ABC Bank as well as the ABC BANK managers of the other competitor
Banks in Hastings was given similar set of questions to be answered. Phone calls were made to
those Banks in- order to introduce my- self first and make appointments. The Banks chosen were
the Travelodge Hastings, the Chatsworth Bank, and the Bank Lindum. One Bank refused to
participate.

Formulation of Questionnaire
Two sets of questionnaire was used in the research and one set was given to the operational level
staff of ABC Bank and the next questionnaire was handed over to the ABC BANK manager of
ABC Bank as well as the ABC BANK managers of a selected competitor Banks in Hastings.

Questionnaire for operational staff of ABC Bank

1) Gender: Male Female
2) Age: 16 - 21 22 - 30 31 - 40 41 - 50 51+
3) Educational Background: Elementary College University Post-Graduate
4) Duration of work for ABC Bank:
Less than 1 month 1 - 6 Months 6 Months - 1 Year

1 Year - 2 Years 2 - 5 Years Over 5 Years

5) Work Type: Full-Time Part-Time

6) Do you have a good working environment in the Bank? Yes No

7) What aspect do you most like about the job? (Tick more than one, if applicable)

Pay

Enjoy Work
Work Colleagues
Work with Managers/Supervisors
Other

Please specify..........................................................

8) Reason to work at ABC Bank (Tick more than one, if applicable)

Wanted a career in the Bank Flexible Working Opportunities
Financial Considerations Desire to serve customers
Career Development Gain Working Experience
A total number of 21 employees out of 24 operational level staff took part in the survey and 13 of
them have been interviewed. To interview them open ended questions were used and their
answers were recorded. The participants who refused to participate were not treated as nonresponse issues.

The back ground data of the employees were collected from the first tABC Bankee questions, interms of age, gender and educational background
Demographic characteristics of Operational Level Staff

Table - General Information

Descriptor
% of the total sample
Sex
Female
58%
Male
42%
Age
16 - 40
70.9%
40 - 54
12.5%
55+
16.6%
Educational Level
Elementary

49.9%
College
33.3%

University
12.5%
Post-Graduate
4.16%

Formulation of questionnaire for ABC BANK Managers

1. Have your organisation taken measures to create a desirable working environment? 1.1. If so
how do you facilitate it?
2. How are the key tasks and responsibilities assigned and performed? 2.1 What are the
limitatations?
3. Do you have an effective recruitment and selection procedure in your organisation? 3.1. What
are the issues and problems in the process?
4. What staff training needs have you identified? 4.1. What are the issues and limitations?
5. How does your staff communicate? 5.1 do you think they communicate effectively? 5.2. What
measures have you taken in-order to facilitate it? What factors influence the staff turnover in
your organisation?
6. What factors influence staff turnover in your Bank?
7. What alternatives or retention strategies can be used to help low staff turnover?

8. Despite of all those staff retention strategies and ABC BANKprocedures, why does your Bank
still have a high employee turnover rate?
9. Do you think ABC BANK theories and strategies are practical in real life? Why do you think
that way?

10. Please tick the most appropriate box:

Criterion

Very Poor

Poor

Average

Good

Very Good

How do you evaluate the working environment for your staff?

How do you evaluate the delegation of responsibility among your staff?

How do you evaluate your hiring and training process?

What is your personal view regarding ABC BANKM strategies and practices?

To what level do you use ABC BANKM strategies and practices?

Justification of questionnaire
In order to meet the main aims and objectives of the research project, a logical explanation for
each question in the above mentioned questionnaire is stated below.

1. Have your organisation taken measures to create a desirable working environment?

1.1. How do you facilitate it?

The overall working environment plays a critical role in any organisation, regardless of which
sector it operates, in terms of staff satisfaction. This has a greater effect on ABC Bank and the
Bank Industry in general as it operates in the service sector, where customer satisfaction is
paramount to the success.

Desirable working environments include having the right equipment for the right job, proper and
acceptable lighting conditions, right temperature and an ergonomically designed work station,
etc.

Even though some of these may not seem highly significant by the look of it, employees would
get dissatisfied and become unproductive in the long term if desirable working conditions are not
met. Desirable working environments energise staff as it gives them a positive feeling. It is
commonly known that where people feel good and relaxed, they work better and more

efficiently. The working environments affect the health, well-being and motivation levels of staff
and it is both an employer's responsibility and in the interest of the employees to ensure staff
work in a positive atmosphere because conditions at work can either maximise or minimise
productivity and cause or prevent stress and fatigue.

Therefore this question is designed to understand whether the discrepancy in working conditions
is a reason for staff turnover or not and what remedial actions can be taken by the ABC BANK
department to avoid such issues.

2. How are the key responsibilities and tasks appropriately assigned and performed?

2.1. What are the limitations in assigning responsibilities?

Job descriptions and responsibilities could be a significant reason for employees to leave an
organisation. If employees are not fully aware about their work or conflicting and overlapping
tasks and priorities could create serious problems at the workplace.

Therefore ABC BANK managers do have a responsibility to create solid job descriptions and
also make sure employees gain a good understanding about what is mentioned in the job
description. It is also imperative ABC BANK managers ensure employees perform the tasks that
have been allocated to them well. Also this question discusses the limitations encountered by
responsibilities for employees.

3. Do you have an effective recruitment and selection process?

3.1. What are the limitations in the recruitment process?

Recruiting people who are wrong for the organisation can lead to increased staff turnover,
increased costs, and lowering of morale in the existing workforce. They will not offer the
flexibility and commitment that many organisations seek. Managers and supervisors will have to
spend extra time on further recruitment exercises, when what is needed in the first place is a
systematic process to assess the role to be filled, and the type of skills and abilities needed to fill
it.

But recruiting the right person for the right job is one major issue ABC BANK managers have
been facing over the last two decades. How would a ABC BANK manager understand if a
particular applicant is suitable for a particular job or not? Having the particulars which meet the
job specification ... would that mean a particular applicant is suitable for the job or are there any
other reasons to be considered. How would a ABC BANK person evaluate the productivity of
their recruitment process and what are the limitations they may come across when actual hiring
takes place.

4. How to identify staff training needs?

4.1. What are the limitations of staff training?

Staff training is another major factor that could cause employee turnover. Lack of training makes
an employee's work more difficult and dissatisfying. Especially in the Bank industry and in ABC
Bank, since it is very much service oriented, employees are obliged to have a solid training to
perform their tasks well. Not having a well trained workforce may cost ABC Bank both the

employee and the most important customer. This creates both a loss of revenue to the Bank and
an increase of labour turnover.

Therefore it is imperative for ABC BANK personnel to understand the needs of training and
keep their staff up to date with the new systems and working procedures.

5. Do you think your stuff communicate effectively?

5.1. What measures have you taken in order to facilitate this?

Effective communication is about the internal communication system in the organisation. This
includes telephone, memo, e-mail, fax and notice board. For service sector based industries such
as the ABC Bank, effective communication is imperative because most of the day-to-day work is
done tABC Bankough interaction with each other. Therefore a well established communication
system is mandatory as it helps employees to carry out their tasks effectively. Consequently this
question will measure to what extent the ABC BANK department in ABC Bank and other similar
Banks, have understood the necessity of having a systematic communication system and what
actions they have taken in order to facilitate it.

6. What factors influence the staff turnover in your organisation?

7. What specific retention strategies and alternatives can be used to help lower staff turnover?

These two questions were designed to understand the impact of factors such as job enhancement
(career development), increments and flexible working hours, etc influence on staff turnover and
to what extent. Also to understand if ABC BANK managers can get all of the above mentioned
strategies (working environment, assigning responsibilities, hiring right staff, provide staff with
necessary training and create an efficient communication system) would employees still get
dissatisfied with their organisation and what else needs to be done in order to retain staff.

8. Despite of all of those staff retention strategies and ABC BANKM procedures, why does the
Bank sector still have high employee turnover rate?

9. Do you think ABC BANKM theories and strategies are practical in real life? Why do you
think that way?

These two questions were formulated to analyse all the concepts, theories, procedures and
practices that were discussed earlier and to find out if there are any other reasons prevailing in
the Bank industry, including ABC Bank that affect staff turnover. If there are any other reasons,
then to what extent do they affect the employee turnover level. Also these questions raise another
query - would that indicate all the concepts, theories, procedures and practices formulated by
different scholars during the last few decades were unrealistic or outdated. In addition, it seeks to
determine whether ABC BANK manager in tABC Bankee/four star Banks, including that of
ABC Bank, have a clear understanding/knowledge if different ABC BANKM strategies,
procedures and practices and if they have the confidence to use them in order to minimise
employee turnover and retain qualified and productive staff.

The last question (table) can be used as a benchmark for the ABC BANK manager of ABC Bank
to compare with what others have said about their organisation in terms of different ABC
BANKM strategies and procedures.

Logic behind data analysis and limitations

Interviews were carried out involving the General and Operations Manager of ABC Bank, ABC
BANK executive of the Bank and also other ABC BANK Managers of tABC Bankee/four Banks
in Hastings that compete with ABC Bank. The logic behind this method is to compare and
understand if there is any significant difference between the ABC BANK strategies and
procedures of the ABC Bank and another competitor Bank in and around Hastings area.

One of the major advantages of having other Banks in the area for the research is that it enables
to create a benchmark for ABC BANK strategies and procedures and the overall ABC BANK
system in the ABC Bank in reducing staff turnover. In order to create a benchmark for ABC
Bank, it was imperative to understand what ABC BANK strategies and procedures have been
implemented by the ABC Bank and the overall effectiveness of those strategies and procedures.

A questionnaire was designed to measure the different aspects of employee turnover influences
as discussed earlier. Analysing, comparing and contrasting collected data would enable to create
a benchmark for minimising employee turnover or in other words maximising employee
retention rate.

The final stage of the data analysis is to evaluate current ABC BANK strategies and procedures
applied by the ABC BANK department of ABC Bank and all other competitor Banks of the ABC
Bank, against the theories, concepts and practices that had been discussed under literature review
and formulate the best possible conclusions and recommendations.

One key limitation on this primary research method is the sample size, and limits the ability to
generalise.

Second limitation would be to acquire the most appropriate sample, because the research finding
would purely depend on the richness of the sample that has been selected.

Another limitation is that the findings cannot be extended to the whole of the Bank Industry
because the findings of the research are not tested to certify whether they are statistically viable.

References

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2010
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Walsh, K. & Taylor, M. S. (2007). Developing in-house careers and retaining
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Hospitality Quarterly, 48 (2), 163Union Bank of Colombo Plc (2015), Annual report (2015), Colombo Union Bank of
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