DETERMINANTS OF EMPLOYEE RETENTION IN GHANA COMMERCIAL BANK, KUMASI

Abstract

The study investigated the determinants of employee retention in Ghana Commercial Bank (GCB), Kumasi. Various factors that contribute to employee retention such as organizational factors, human resource factors, organizational benefits, commitment, employees' retention and job satisfaction were examined. Quantitative research design, specifically a correlational design was used. Primary data were collected from 98 employees comprising senior and junior staff, through questionnaire administration. The data were analyzed by using Spearman correlation and step-wise regression tools in Statistical Product and Service Solutions (version 17). The findings of the study revealed significant relationships among policies, job satisfaction and employee retention. Some of the specific determinants of retention were job satisfaction, training and development, communication, justice and fairness. This implies that any policy initiative that is aimed at employee retention should focus on these determinants. It is therefore recommended that employees and branch managers should cooperate and review the existing benefits by paying more attention to policies that will influence job satisfaction, training and development, communication and justice and fairness.