Abstract
Private sector banks are important segments of the economy of Bangladesh. This sector has already been recognized as a significant industry for achieving the Sustainable Development Goals (SDG) of Bangladesh. However, managing private organizations has become very challenging due to highly competitive market and higher level of employee turnover especially in the private banking sector. It is observed that to attain the competitive advantage, private bank employees are undertaking heavy workload that leads to higher level of stress at work and is increasing turnover intention among the employees. This study has been designed to explore the factors that are accountable to create stress among the private bank employees in Bangladesh which are creating turnover intention among them. Hence, this study identified the relationships between job stress factors and the increase of turnover intensions among the bank employees in Bangladesh. A total of 206 bank employees at different levels of the banks were interviewed from ten private commercial banks of Bangladesh. A structured questionnaire was designed through literature review to collect the information from the respondent employees. Both descriptive and inferential statistics were used to analyze the data. Multivariate analysis techniques were used to identify the work stress factors having influence on the turnover intention among the private bank employees in Bangladesh. Results show that there are four stress factors that increase the turnover tension among the private bank employees in Bangladesh such as, (i) long hours and fast work, (ii) clearness of goals and objectives of work, (iii) workload and change in mindset, and (iv) flexibility at work. This study suggests that the policymakers of the private commercial banks should address the issues like long hours and fast work, clearness of goals and objectives of work, workload and change in mindset and flexibility at work for reducing turnover intensions of the bank employees in Bangladesh.
Highlights
Banking sector of Bangladesh is playing a pivotal role in the economy of Bangladesh which is growing very fast in recent years
Factor analysis show that all the communalities of the variables are very high indicating that the variables constitutes the stress factors that increases turnover intention among the private bank employees are related to each other (Table 4)
Considering all the factors mentioned above, I like my job very much and I am proud of my job ANOVA shows that all the factors are significantly related to the overall turnover intension of the private bank employees in Bangladesh (Table 8)
Summary
Banking sector of Bangladesh is playing a pivotal role in the economy of Bangladesh which is growing very fast in recent years. It is playing a significant role in the economic development of Bangladesh which is already recognized as a significant industry for achieving the sustainable development goals of the country. Managing private organizations has become very challenging due to highly competitive market and higher level of employee turnover. Deregulation of labor markets, emerging technologies and new types of jobs have significantly reshaped working lives by continuous changes on employment and working conditions which is creating tensions among the employees
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