Human resource value proposition (HRVP) and employee retention: A case study of Bank of Uganda (BOU)
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Human Resource Management like any other profession or department in an organization deserves more attention and resources if it is to create value. Human Resource Department has to therefore, define the receivers of its value and how to create value for them. This study explored effect of HR Value Proposition on Employee Retention. The study aimed at: examining the existing elements of Human Resource Value Proposition in Bank of Uganda, assessing the emerging issues in the implementation of HR Value proposition, establish the relationship between Human Resource Value Proposition and Employee Retention and to establish other factors affecting employee retention in Bank of Uganda. The study employed a case study design to help in exploring the contemporary phenomenon of HR value proposition and its effect on Employee retention in a workplace setting. The researcher designed self-administered questionnaires that were used in collection of data, reviewed internal documents and reports that included the HR operational manual, the administrative manual and HR survey reports, the researcher also carried out interviews and observations. Findings of the study revealed that the bank has not yet developed a fully-fledged Human Resource Value Proposition and it was established that the currently implemented elements of the HR Value proposition are not related to employee retention. The study also notes that, developing the HR value propositions by balancing and designing total reward packages, positive work environments and wellness programmes, work policies and practices, strong employer brands and liking these practices to the business and needs of key stakeholders creates experiences for employees that are better than any other organization which informs employee’s choice of an employer.