Data analysis on Work-life Balance, performance management, and employee retention
Work-life Balance
Statement Mean Std.
Deviation
I am aware of what work-life balance entails 4.10 .912
Work-life balance is an important aspect of a healthy work
environment
4.36 .902
The Consolidated Bank has created a work environment that
prioritizes work-life balance
3.39 1.126
Consolidated Bank does not encourage working after hours 3.31 1.127
I understand that attitudes on work-life balance will continue
to evolve with cultural, generational and economic changes
3.92 .943
Composite mean and standard deviation 3.82 1.001
Source: Study Data (2020)
Table 4.14 shows that CBKL supports the work-life balance of its employees (Mean 3.82
SD=1.001). The employees believe that work-life balance is important in order to ensure
healthy work environment (Mean=4.36 SD=.902). The millennials understand what
work- life balance entails (Mean=4.10 SD=.912). They also believe that the attitudes
towards work-life balance will continue to change over time (Mean=3.92 SD=.943).
CBKL has ensured work-life balance is a priority (Mean=3.39 SD=1.126). The bank does
not encourage working after hours (Mean=3.31 SD=1.127).
From the analysis above, the employees of CBKL appreciate the measures put in place in
order to enhance work-life balance. They feel very passionate about the importance of
work-life balance for a healthy work environment. The millennials are very conversant
with what entails work-life balance. They also know that work-life balance will continue
to change as other aspects in the organization under-go change. The findings indicate that
work-life balance is a priority at CBKL and as much as they do not encourage working
after hours, it seems they have not yet achieved that goal.
Performance Management
Table Performance Management
Statement Mean Std. Deviation
Are you aware about performance management at CBKL? 3.74 1.031
The performance expectations are clearly outlined at the
beginning of the year.
4.03 1.038
I am involved when the goals are being set 2.95 1.404
I get constant feedback about my performance and I am
encouraged on my progress.
3.23 1.297
We have regular meetings held to discuss outcome and results 3.29 1.346
Composite mean and standard deviation 3.45 1.223
Source: Study Data (2020)
Table 4.15 shows that the respondents were content with the way performance
management was done (Mean=3.45 SD=1.223). The analysis indicates that the
employees have their performance expectations outlined at the start of the year
(Mean=4.03 SD=1.038). The employees are aware about performance management at
CBKL (Mean=3.74 SD=1.031). They are also involved when their goals are being set
(Mean=2.95 SD=1.404). There are regular meetings held to discuss results (Mean=3.29
SD=1.346). The employees get constant feedback about their performance (Mean=3.23
SD=1.297).
The study findings reveal that the millennials are not generally satisfied with the way the
performance management is carried out at CBKL. They are also very satisfied when they
have their performance expectations outlined at the beginning of the year and they are
also
aware about what performance management is. The findings imply that the millennials
are not involved when their goals are being set. The analysis indicates that the employees
are not content with the meetings held to discuss results and they also seem not to get
constant feedback about their performance
Employee Retention
Employee Retention
Statement Mean Std.
Deviation
CBKL offers excellent compensation and benefits to all
employees
3.32 1.069
I experience Job Satisfaction at CBKL 3.32 .979
I am appreciated and recognized in my place of work 3.26 1.044
My line manager is easy to relate with and is very
understanding
3.82 1.073
CBKL offers excellent working conditions 3.65 1.085
Composite mean and standard deviation 3.47 1.050
Source: Study Data (2020)
As shown in table 4.16, the findings indicate that the millennials are neutral about
CBKL’s intent to retain its employees (Mean=3.47 SD=1.050). Most of them however
agree that they have line managers who are understanding and easy to relate with
(Mean=3.82 SD=1.073). The findings indicated that the bank offers excellent working
conditions (Mean=3.65 SD=1.085). The millennials also experience job satisfaction at
CBKL (Mean=3.32 SD=.979). The employees also agreed that the bank offers excellent
benefits and compensation (Mean=3.32 SD=1.069). The study implied that the
employees do not feel appreciated and recognized at their place of work (Mean=3.26
SD=1.044).
The analysis above implies that Consolidated Bank of Kenya Limited need to put
more effort if they want to retain the millennial employees. The bank’s line managers
seem to be understanding and cope well with the millennials. The bank offers
excellent working conditions however this does not guarantee job satisfaction by the
employees. The employees are not satisfied with the benefits and compensation at
CBKL. They also do not feel appreciated and recognized at their place of work.
The above analysis has revealed that the standard deviation for all apart from Job
design is greater than 1. This implies there was no consensus amongst the
respondents with extreme cases where some rated 1 and some rated 5. The standard
deviation for Job design was less than one which means there was consensus amongst
the respondents.
