Employees' turnover: examining its causes in the Ghanian banking industry

Abstract

Employee turnover in the banking industry has become the most essential area of research from both academia and business purview. Theoretically, it is important to understand the fundamental causes of turnover in order to provide insights into how to curtail the growing problem and also to envisage where commercial banking specific turnover problems lies. On the other hand, learning how to minimize the turnover of skilled employees is crucial in terms of knowledge sustainability from the business perspective. Currently, organisations are investing most of their resources into setting up strategies to attract and retain prolific employees but research indicates that even with organizations making conscious effort to retain employees, turnover is one of the inevitable challenges and its occurrence is on the higher side. Thus, it is quite imperative to examine the reason for the increase of turnover in most organisations. The study examined 25 employees from one bank in Ghana, where a descriptive analysis was used to analyze the reasons for which employees leave their organizations. The research found that, employees quit their organisations based on their employment status and length of employment. Practical implications of these findings are discussed.