Abstract:
Background: Human Resource is one of the valuable assets for organisations to facilitate the
achievement of competitive advantage. Managing human resources is very challenging and
must be done with care in organisations. Retention of human resources has is integral to the
development and the accomplishment of the organisation’s goals and objectives. The main
determinants for employee retention such as Career Development Opportunities, Superior
Support, Work Environment, Rewards, and Work-Life Policies and recognition have a great
paradigm to retain the employees for longer periods of time.
Aim: In this article, an attempt has been made to assess the impact of HRM practices and its
effectiveness on employee retention in Ghana Commercial Bank (GCB).
Setting: The study was conducted in the Ghana Commercial Bank head office in Accra
Methods: The study made use of both the qualitative and quantitative research methods in
data collection. Both primary and secondary data were collected to assess the role of
commission-based pay on employee retention in the Ghanaian banking industry. The
researcher sampled 10 senior management and 50 junior staff who are relationship managers
and relationship officers of the bank for the sampling size.
Results: The study further revealed that commission-based pay involves meeting challenging
targets which may contribute to demotivation if targets are not met. The study concludes that
the form of motivation adopted by a company to remunerate staff on commission-based pay
is essential to their work performance and retention.
Conclusion: The study recommends that banks should train and develop employees and
create structures that will create organisational citizenship
