Employees Turnover Intention In The Banking Industry In Tanzania: A Case Study Of The National Bank Of Commerce (Nbc) Dodoma Branch

ABSTRACT

The main objective of this study was to examine the factors that account for high employees‟ turnover in the banking industry in Tanzania taking the National Bank of Commerce (NBC), Dodoma branch as a case. A cross-sectional survey method was adopted to carry out the study. A sample size of 63 employees was selected from NBC workers from Dodoma branch. These included both primary and secondary data were collected. Focus group discussions, interviews and questionnaire were used to obtain primary data whereas secondary data were obtained through documentary review method. Qualitative and quantitative data were gathered and analyzed by using Statistical Package for Social Sciences (SPSS) computer programme version 16 in order to get frequencies and percentages. Triangulation of information was done to ensure reliability and validity of the data collected. Text, tables and statistical charts have been used to present the findings. The results show that many of the employees have left NBC Dodoma branch to assume senior roles and meaningful to their career growth. Further, the study found age to be one of the factors that is triggering employees‟ voluntary turnover at the NBC Dodoma branch. Employees in the age group 31 to 40 years seemed to have more frequency than the rest of the age groups because it is this range of age where many of them are looking for green pasture to gain more experience for future senior posts. Other identified vii factors were career advancement, growth and development, recognition, work - life balance, and compensation and benefit. The study concluded that the factors behind the voluntary employees turnover in the NBC Dodoma branch are related to economic aspects, performance of the organization, organizational culture, nature of the job (job role), and unrealistic expectations. The reward system, the strength of leadership, the ability of the bank to bring out a sense of commitment on the part of workers, and its development of a sense of shared goals, among other factors, influence such indices of job satisfaction as turnover intentions and turnover rate. Unrealistic expectations and general lacks of knowledge that many job applicants have about the job at the time that they receive an offer facilitates voluntary employees turnover. When these unrealistic expectations are not realized, the worker becomes disillusioned and decides to quit. The implications that are drawn from this study point out the fact that factors for turnover vary with the individual differences. The challenge to managers is to develop strategies for motivating and retaining employees, which are coherent with the individual employee motivator. The study recommended that the management of the NBC Dodoma branch should develop effective strategies on workload to employees, leadership skills, employee performance recognition, compensation and benefit, management style, career advancement opportunities, and growth and development.