Assessment Of Strategies Adopted By Private Organizations In Employees’ Retention In Tanzania; A Case Study Of Nmb In Dodoma Disrict

ABSTRACT

This study assessed the strategies adopted by private organizations in employees‟ retention in Tanzania using NMB Bank in Dodoma district as a case study. Four research objectives guided the study. First, to identify the causes of employee attrition in the private organizations; second, to examine the current retention strategies in the private organizations; thirdly, to examine the usefulness of the current retention practices in retaining the employee in the private organizations; and fourthly, to determine the challenges facing the strategies used in retaining the employees in the organizations. Data were collected in two branches of NMB Bank in Dodoma district namely Mazengo and Dodoma branches. The study applied quantitative and less qualitative approaches and cross survey research designs was employed. The sample size was 80 respondents. The study used primary and secondary data. Data were collected through questionnaires, interview and documentary review. Data were analyzed using Statistical Package for Social Science (SPSS) version 16.0 and the use of description was employed. The findings revealed that several current retention practices in the private organization had brought positive results in retaining worker in the organization. Creation and maintaining good working environment, allowances to employees, motivation and good relationship with top management. The study reveals several challenges facing organization to retain employees. These include high need for training, life style changes and declining of the value of local currency. Organizations should make sure that subordinates are listened and assisted in solving their problems facing in their work place. This could make them feel as they are part of the organization, hence make them remain working with the organization.