Assessment of Employee Retention Mechanisms and the Benefits: the Case of Commercial Bank of Ethiopia.
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Date
2016-06
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Addis Ababa University
Abstract
The purpose of this study was to assess employee retention mechanisms and the benefits in
Commercial Bank of Ethiopia and assessing employee retention strategies being
implementing in CBE, exploring contribution of employee retention for organizational
success, assessing employees’ satisfaction with the retention strategy of CBE, exploring
factors that affect the employee retention strategy, identifying solutions to further improve
the retention strategy. A descriptive survey design was used and a purposive sample of two
respondent groups was involved. Interview questions conducted for officials and experts of
human resource management of Commercial Bank of Ethiopia and questionnaires were
filled by employees of CBE. The purpose of the interviewing of the first respondent group
was to discover what retention strategies are being practiced at commercial Bank of Ethiopia
and its contribution to achieve organizational goals and other related issues as they are
responsible for designing and implementing the retention strategies. Questionnaire filled by
employees of Commercial Bank of Ethiopia to learn how the retention strategies are
designed and implemented, its role in achieving organizational goals and employees
satisfaction with the retention strategy. The result shows that there is a well-designed
employee retention strategy in Commercial Bank of Ethiopia which made CBE successful in
meeting its objectives. More than seventy percent of the participants were satisfied with the
overall employee retention strategy of their organization. However, both employees and
officials of CBE still believe that there are some retention factors that affect employees on
which CBE has to work. Both respondent groups believed that there is a direct relationship
between employee retention and organizational success and having effective employee
retention strategies is vital for the success of the organization
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Commercial bank of ethiopia