Factors affecting retention of employees: An exploratory study on the private commercial banks of Bangladesh

Abstract

Employee retention is nowadays considered as an important issue for any organization which refers to maintaining employees' loyalty and commitment toward the organization to stay and thrive. The study aims at ascertaining different factors associated with employee retention in private commercial banks of Bangladesh. Importance of various factors like salary, work schedule, working environment, employee empowerment, performance appraisal, employer-employee relation and communication, feedback, work-life balance, training & development facilities, equitability, leave facilities, employees' loyalty and commitment to the organization, and employees' job satisfaction on retaining employees has been analyzed according to the opinion of the employees. Out of total 43, 10 banks were randomly selected to approach 100 respondents. The findings are shown based on the employees’ perception about different factors affecting their decision to stay with the banks. Also some recommendations have been made on the basis of the outcomes.