Dissertation Submitted in Partial Fulfillment of the Requirements for Award of the Degree of Master of Science in Marketing Management (MSc. MKT) of Mzumbe UniversityThis study aimed at assessing the effectiveness of employee retention strategies on managing staff turnovers at CRDB Bank. More specifically the study explores four research objectives: to identify nature of retention strategies used by CRDB; to determine the effect of these retention strategies on employee turnover; to point out the challenges facing effective implementation of these retention strategies; and to suggest measure to improve the effectiveness of retention strategies at CRDB. The current study employed a case study research design. Data was collected via Literature reviews and questionnaires with nine managers, customers and employees from CRDB Bank. The findings revealed that turnover of key employees have a number of adverse consequences for the Bank, including, but not limited to, lowered productivity and disrupted business continuity. A lack of financial resources to retain staff and limited long term career prospects, amongst other factors, were identified as common reasons for actual and intended turnover amongst key employees. In contrast, flat management structures and egalitarian work environments were some of the factors claimed to enhance employee retention.