ASSESSMENT OF STAFF TURNOVER INTENSTIONS FROM EMPLOYEES PERSPECTIVE: THE CASE OF WEGAGEN BANK S.C

Abstract

The objective of this study is to assess staff turnover intention in Wegagen Bank S.C. This specific study tries to identify the main issues/reasons for turnover intention which eventually leads to actual turnover. In doing so the study uses both primary and secondary data sources and for the purpose of collecting data, it uses questionnaires as mean instruments for the current professional employee. And collection of valuable data from department of human resource management and bank magazine has been used. In order to analyze the collected data descriptive statistics was used and analyzed using methods such as mean, percentage and frequency. The finding of the study reveals that, highly dissatisfaction of the employees with the payment and compensation they receive, dissatisfaction with the work life balance and culture within the bank, lack of fair promotion and carrier advancement, disagree with the evaluation method and evaluation they received, and as most employees believe there are numerous job opportunities, one that pays better that can possibly aggravates this intention. Most of these employees admitted for having turnover intention currently. The most stated possible reasons for turnover intention is insufficient payment, alternative opportunity, insufficient benefits and luck of carrier advancement respectively this the main causes of the high employee turnover. To conclude Wegagen Bank S.C need to improve the employee’s payment and compensation to compete with other private banks. Should improve the working hours or compensate accordingly. On final note the evaluation method should be reviewed and reevaluate the effectiveness, this are some of the recommendations given in order to solve the problem.