Examining employee turnover in banking institutions in Uganda, case study equity bank Uganda limited

Abstract

It may be queried why qualified and skilled employees are allowed to leave their organizations which is termed as employee turnover. This study objective was to determine the main factors affecting employee turnover at Equity Bank Uganda and the strategies to overcome employee turnover. The researcher used a questionnaire as a research instrument to collect the primary data from 80 Equity Bank Employees. The findings reveal that majority of the respondents agree that lack of Job satisfaction in the organization, low Level of motivation within organization, lack of Conflict Resolutions mechanisms and Assertive communication factors led to employee turnover. The strategies that are discussed in this study include, the work relationships between employees must be improved, Employees must be recognized when they achieve goals, employees must be paid well (a reasonable salary), Employees at this workplace must be given allowances. The banking institutions in Uganda specifically Equity Bank should work on the issues that matter to the employees, inject more resources in the industry to enable them boost employee attraction and attachment to the banking institution in order to reduce employee turnover.