Factors Promoting Labour Turnover in the Commercial Banks: The Case of the National Microfinance Bank

Mwinyimvua, Abdallah Mohammed (2013) Factors Promoting Labour Turnover in the Commercial Banks: The Case of the National Microfinance Bank. Masters thesis, The Open University of Tanzania.

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Abstract

The motivation for doing this study emanates from the ongoing labour turnover problem in NMB Banks. The contemporary business climate has been found an increase of demand on NMB Bank to attract and retain quality employees with technical skills, experience and knowledge. The pressure of NMB Bank to attract and retain employees as a remedy for excessive labour turnover has been compounded the problem as well as cost is concerned. The objective is to identify the factors promoting labour turnover at NMB Bank. Therefore in order to achieve this objective, the study employed primary and secondary data methods. The primary data were collected by using interviews and questionnaires which were asked and distributed to employees. The secondary data were collected from various sources like, journals, magazine, brochures and reports. The data were analyzed and the findings indicates that, managerial controllable factors like a need for more pay, better career move, more security, opportunity to develop skills, better working conditions, poor relationship with peer, personal illness, mistreatment of employees and lack of involvements in decision making, contribute the labour turnover at NMB Bank. In additional to that, demographic factors like level of education, age, marital status, sex and working experience were identified as contributors in turnover amongst employees. The general implication drawn from the findings is that, the retention strategies ineffective and inefficient. Therefore the new initiative of the NMB Bank management to redesign HRM policies that will achieve positive behavioral, performance and financial outcomes.

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