New Joinee Attrition in the Banking Sector and the Interventions Used For Retaining Them

Abstract

This study investigated the major satisfiers and dissatisfiers, that cause new joinee attrition in the banking sector. New joinees are employees, who have been recruited and have not spent more than a year in the organisation. It also evaluated the effectiveness of the initiatives, taken up by the banking organization to retain new joinees along with the top three issues,that are being faced by the new joinees. A sample of 100 employees, hailing from the banking sector in the Eastern Zone of India (West Bengal, North East, Bihar and Jharkhand) was taken. The identification of the satisfiers and the dissatisfiers was done by using archival records (exit surveys, feedback) and a self constructed five point Likert scale that focused on five domains, namely- Job Role, Training, Work Environment, HR Operations, and Personal Factors. For evaluating the effectiveness of the organization’s retention initiatives, another self-constructed five point Likert scale was used. The results indicated clear understanding of job role, cooperating HR team, and the software-related training that is provided to the new as the major satisfiers. Dissatisfiers were work-life balance, role mismatch and also infrastructural facilities. Retention initiatives like feedback calling, new joinee meet are carried out successfully in the organization. But, the initiatives like new joinee appreciation and mentoring need better execution. The top three recurring issues were late sitting in the branch, behavioural issues with the supervisors and specific training.