Employee retention in local kenyan banks
| dc.contributor.author | Njuguna, Ann Wangui | |
| dc.date.accessioned | 2011-07-01T13:04:00Z | |
| dc.date.available | 2011-07-01T13:04:00Z | |
| dc.date.issued | 2009 | |
| dc.description | Partial fulfillment for award of the degree of Master of Business Administration (MBA) | en_US |
| dc.description.abstract | his dissertation is a qualitative single-case study of a local Kenyan hank and has the following objectives: first, to identify the business model in use and its connection to employee retention: and second, to identify and evaluate the employee retention tactics currently used by banks that serve the high-risk market segment. A review of several literature was done and it was established that business models explain how enterprises work and how they make money. The production line and empowerment approaches were identified as the two business models in use in the service industry. Despite the business model in use, retaining employees with tacit firm-specific knowledge was identified as a potential avenue for reducing hiring and training costs, and improving sales growth and share price. It was also established that the Kenyan banking industry not only works against a backdrop of bank failures, hut also in a market whose largest client proportion is considered high-risk. Data were gathered through in-depth semi-structured telephone interviews of seven former and one current Equity Rank employees. The findings from the interviews suggest that Equity Bank employs a low-cost high-volume business model. The retention challenges posed by this model originate from a conflict between the organisation needing to keep its costs low and the demand by frontline and back office employees — the majority — for salaries that commensurate the high volumes they handle. In the long term, the researcher recommends that management considers using technology to reduce client traffic or recruiting staff who may be willing to take the low pay but for part-time work. The findings also suggest that Equity Bank uses both financial and non-financial incentives to encourage its employees to stay. Overall, continued use of financial incentives that enable employees to improve their quality of life, and non-financial incentives that create a sense of belonging and appreciation is recommended. Finally. the majority of dissatisliers that cause turnover or create intent to leave in employees seem to relate to management and if resolved. Equity Bank can have a higher retention rate. | en_US |
| dc.identifier.citation | HF5549.5.N58 2009 | en_US |
| dc.identifier.uri | http://hdl.handle.net/11071/1521 | |
| dc.language.iso | en | en_US |
| dc.publisher | Strathmore University | en_US |
| dc.subject | business model | en_US |
| dc.subject | Retention | en_US |
| dc.subject | Employee | en_US |
| dc.title | Employee retention in local kenyan banks | en_US |
| dc.type | Thesis | en_US |