Examine current employee retention factors affect staff turnover in banking industry

Abstract

The employment culture is changing in Vietnam. It is now relatively popular to change jobs frequently, rather than to grow with one company throughout the employment life. Thus, the performance of the organization is affected by this kind of voluntary turnover. Nowadays, all organizations are highly concerned to keep their valuable employees. Each day completed by an employee is an investment to an organization.

The fact that banking is one of the vital service industries for any country and performing a number of roles in the economy, I decided to choose it for my research. Just so you know, like all other industries, banking sector in our country is also facing the same employee turnover problem. It seems like healthy banking system and healthy economies always go together.

So as to ensure that, banking sectors should endeavor to focus on the factors, which are primarily responsible for employees leaving the organization. Mainly, in this paper, I’ll try to explore all the different perceived reasons of employees together with their employers of this financial sector for leaving decision from their existing organizations so that I can suggest some retention tactics which can resist from such negative effects.