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This study aims at assessing factors that contribute to staff turnover. Organizations have evidenced high staff turnover recently, being the practice that staff are moving from one organization to another organization or from industry to industry.
Measures have been implemented by organizations in Tanzania to rectify the situation but the problem still exist. To take into consideration how serious this problem is, the central Bank of Tanzania (BOT) one of the biggest and the best employer was selected. The study had three objectives as follows: to determine the effect of intrinsic and extrinsic factors of job turnover, to identify mechanism taken to reduce employee’s turnover and to identify categories of Information Technology professionals at the BOT.
This study literature review is presented in Chapter Two unveiling theoretical and empirical study conducted on related field worldwide. The non-probability sampling technique was applied to determine the sample size of the study. A sample of ninety five employees was selected using random sampling technique to collect information. The questionnaire and documentary review were used as instruments for data collection. Information was collected from current and former employees as well as the Bank of Tanzania as an employer.
The study identified several factors which influence staff turnover such as poor salary, lack of recognition, poor supervision and lack of training and development opportunities, while better medical facility, job security, and good working relationships with co-workers were seen as factors holding employees at the BOT. The researcher concluded that there was a problem of turnover at the BOT due to lack of retention policy or program aimed at retaining its technical or talented staff.
To address the problem of staff turnover at the Bank of Tanzania, the study recommends the BOT management to consider establishing a retention policy, enhance training activities, recognize and establish a clear, open communication channel. This will help management in communicating its intentions and policies to employees. |
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