INFLUENCE OF EMPLOYEE RETENTION IN NEPALESE COMMERCIAL BANKS IN NEPAL
Date
2024
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Publisher
Shanker Dev Campus
Abstract
This study, "Influence of Employee Retention in Nepalese Commercial Banks" investigates the critical factors influencing employee retention within the major state-owned banks in Nepal. Employee retention is essential for maintaining productivity, stability, and reducing operational costs. The research examines five key variables: Employee Benefits (EB), Recruitment and Selection (RS), Job Assignments and Opportunities (JAO), Performance Appraisals (PA), and Training and Development (TD). A descriptive research design was used, and data were collected from 210 employees through structured questionnaires. The data were analyzed using SPSS software, employing both descriptive and inferential statistical methods, including correlation and regression analyses. The findings reveal that competitive compensation, effective recruitment processes, clear career advancement paths, fair performance appraisals, and comprehensive training programs are significant predictors of employee retention. Additionally, the study highlights the importance of fostering supportive organizational cultures and implementing work-life balance initiatives tailored to employees' needs. The research provides valuable insights into the dynamics of employee retention within Nepalese commercial banks, offering practical recommendations for bank management. By developing targeted retention strategies, banks can enhance employee satisfaction, reduce turnover rates, and improve overall operational efficiency and organizational performance. This study fills existing research gaps by providing a comprehensive analysis of employee retention in Nepal's banking sector and establishes a framework for future research in this area.