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Employee Turnover in the Banking Industry: Issues and Strategies at Ghana

Firms spend a lot on their employees in areas of orientation and training, developing, preserving them in their organization. Therefore, managers must endeavor to reduce worker’s turnover.  The study intended to identify the causes of employee turnover, the findings eventually came out with the effects of turnover and strategies adopted by GCB to curb turnover. The study is descriptive study, survey method was adopted for data collection to find out the issues and factors. A sample of 48 GCB staff was selected for the survey. Data was analyzed by using Cronbach’s Alpha, correlation and regression in SPSS software. The paper reveals their existing relationship between the employee turnover and factors affecting in Ghana Commercial Bank (training and development, job satisfaction, reward and pay, leadership style, the job, career development). It was concluded that turnover has some striking effects on the banking sector. These effects include; cost of hiring, loss of valuable employees, cost of training and development, low productivity, and low performance.

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