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|Title: ||An examination of the effects of employee retention strategies on the performance of selected Rural Banks in Ashanti Region|
|Authors: ||Owusu Domfeh, Roberta|
|Issue Date: ||26-Jul-2012|
|Abstract: ||The retention of skilled employees has been shown to be crucial to the development and the accomplishment of an organization’s goals and objectives. A number of factors have been attributed to employee turnover. The purpose of this study was to examine the effects of employee retention strategies on the performance of selected rural banks in Ashanti Region. The study was aimed at identifying the causes of employee turnover, to examine the various employee retention strategies available at the selected rural banks as well assess the effects of the retention strategies on the performance of the selected rural banks. Data collected for the study were from primary source mainly through questionnaires. A simple random sampling approach was employed to select the banks while a purposive sampling approach was employed to select the employees and the Human Resource managers for the study.
The study revealed that HR managers of the rural banks use competitive salary package, guarantee of job security, challenging and interesting job opportunities, good training and development opportunities as the main strategies to retain employees in their banks. The study further revealed that employees had high intentions to leave because the above retention strategies were not well implemented in their respective banks. The long tenure of the employees at the rural banks was mainly due to unavailability of jobs in the economy. It was found that employee retention has positive effects on the performance of the selected rural banks. It prevents loss of organizational knowledge, disruption of customer service and also reduces the turnover cost of the organization. The study concludes by providing the rural banks with recommendations to adopt comprehensive and proactive retention strategies to retain employees and to reduce employee turnover intentions.|
|Description: ||A thesis submitted to the Department of Managerial Science, Kwame Nkrumah University of Science and Technology in partial fulfillment of the requirement for the degree of
MASTER OF BUSINESS ADMINISTRATION (HRM OPTION). 2012|
|Appears in Collections:||College of Arts and Social Sciences|
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