Staff Turnover Rate
Respondents rated staff turnover in their organization as high with 62.5% of the
respondents and the extent of other ratings were presented in the table below.
Table Staff Turnover Rate
gender
Total
male female
Staff Turnover Rate very high Count 10 3 13
% of Total 12.5% 3.75% 16.25%
high Count 30 20 50
% of Total 37.5% 25.0% 62.5%
moderate Count 10 7 17
% of Total 12.5%
8.75%
21.25%
low Count 0 0 0
% of Total
Total Count 50 30 80
% of Total 62.5% 37..5% 100.0%
Staff turnover rate was ranked a high by 62.5% of the participants, majority were male at
(30,37.5%),Female respondents accounted for (20, 25% ).Respondents ranking staff turnover as
moderate were (17,21.25% ) while those who felt that retention was very high represented 13%
of the respondents. This in general demonstrated that, majority of the female employees in the
bank were satisfied with retention policies hence would consider serving their current employer.
Intrinsic Factors & Staff Turnover
Intrinsic factors studied included; targets and achievements that the organizations set for
employees, need for control and freedom during execution of jobs specified by management,
team work and job satisfactions derived by employees. The respondent‟s findings are presented
below.
Table Intrinsic Factors and Staff Turnover
very high high moderate low negligible
f % f % f % f % f %
Targets and achievements 49 55.1 30 33.7 4 4.5 5 5.6 1 1.1
Control and freedom 37 41.6 39 43.8 6 6.7 2 2.2 5 5.6
Team work 34 38.2 41 46.1 10 11.2 4 4.5 0 0.0
Job satisfaction 51 57.3 25 28.1 13 14.6 0 0.0 0 0.0
Work experience 44 49.4 31 34.8 13 14.6 1 1.1 0 0.0
Majority of the participants (55.1%, n=49) were very highly influenced by the ability to
achieve targets in their current positions. Control and freedom over work influenced 43.8%
(n=39) of the participants. Team work was found to have high influence in retention of staff as
indicated by 46.1% of the participants while job satisfaction had a very high influence to staff
retention representing (57.3%, n=51) of the participants. The need to attain work experience was
a high influencing factor in staff retention with 49.4% (n=44) concurring that after the
experience more opportunities will be available within the institution. .
From the findings, out of the 34 participants who were very highly influenced by team
work, male participants were more (21%) than the female participants (17%). This showed that
group dynamics was common among the male employees. There were no participants with
experience above 16 years with interest to achieve experience; this indicated that employees are
enthusiastic and driven by the need for experience as an intrinsic factor influencing their stay at
work. Most staff were influenced by challenging tasks and ability to achieve targets with those at
the supervisory/middle level managers representing 26 (29%), non-management staff 19 (21%)
and top managers 4 (4%).Meaning performance based incentives attracted supervisors who
could be targeting promotions. Masters graduates had the highest need to have control and
freedom over their work representing19. This therefore indicates that the highly educated
employees have the need to control and freedom over their work due to the acquired knowledge
that demands autonomy and minimal control over execution of duties.
Targets and achievements was strongly correlated with staff turnover (r=0.901). The need
to have control and freedom over work also had a strong correlation of 0.816. Team work had a
strong correlation with staff retention (r=0.808). However a weak correlation existed between
work experience and employee turnover(r=0.524).These events perceived as salient will
determine the level of autonomy, competence and ultimately influence intrinsic factors (Horn,
2008).Autonomy and control in tasks execution will generate creativity and productivity
(Griggs,2010) and this is what current employees find more exhilarating in today‟s employment.
This has a significant contribution in an individual staying in a particular position and even an
organization when this will be linked with extrinsic motivation rewards such us bonuses it will
greatly influence staff turnover.
Extrinsic Factors and Staff turnover
Extrinsic factors included; Salary & benefits, Job security, Pension scheme and medical
insurance. The findings are presented in the table below.
Table Extrinsic Factors and Staff turnover
Extrinsic factors very Great Great moderate low
f % f % f % f %
Salary and benefits 58 65.2 23 25.8 8 9.0
Job security 48 53.9 33 37.1 6 6.7 2 2.2
Pension scheme 22 24.7 35 39.3 25 28.1 7 7.9
Medical insurance 33 37.1 30 33.7 18 20.2 8 9.0
From the table, salary and benefits were highly influencing retention as indicated by
65.2% (n=58) of the participants. Job security and medical insurance as well had a very great
extent ininfluencingretention.39.3% of the participants were highly influenced by the company‟s
Pension scheme.53.9% of the participants were very highly motivated by job security. 23.6% of
these participants were below 30 years of age, 13.5% were 30-34 years, 10.1% were above 44
years and 3.4% represented age groups 35-39 years and 40-44 years.
This indicates that young employees were highly influenced by job security than the aged
employees especially those at the middle age group. This is due to the fact that they have
experience in the job and can secure a different job elsewhere. 33.7% of the participants
who were influenced by salaries and benefits were undergraduates, 30.3% master‟s
graduates and 1.1% a diploma holder. This illustrates how highly educated employees are
influenced by the amount of salaries paid among other benefits.
Salary and benefits were strongly correlated with staff turnover with at 5% level
(0.824, p-value=0.025). The correlation strength was found to be decreasing from salary
and benefits, medical insurance (0.732) and job security (0.724).Pension scheme had a
negative correlations with staff retention (-.191).Economic Rewards must match
achievement and competencies, that‟s why organization have adopted performance
management systems that awards bonuses and promotions based on productivity. Reward
systems that are feedback oriented increases employee‟s morale, satisfaction, loyalty
hence improving staff retention. Meudell and Rodham (1988) revealed how extrinsic
factors like competitive salary, bonuses have been utilized by organizations not only to
improve productivity but also to increase employee retention. Internalized extrinsic
motivation will facilitate positive outcomes that improve productivity and Performance
and monetary compensation (Vansteenkiste,Lens&Deci, 2006) are positively linked and
these internalized motivation will generate outcomes that increases morale, job
satisfaction and productivity.
