Retention Strategies Research Articles

ELECTRONIC BANKING ATTRIBUTES, CUSTOMER TRUST AND LOYALTY ON CUSTOMER RETENTION-A CASE STUDY AMONG THE CUSTOMERS OF COMMERCIAL BANKS

In today's dynamic banking environment, the adoption of electronic banking services has revolutionized customer interactions with commercial banks. This study investigates the impact of electronic banking attributes, customer trust, and loyalty on customer retention within the context of commercial banks. Using a mixed-methods approach, data was collected from a sample of customers across various demographic segments. The study found that electronic banking attributes, including usability, security, and service quality, significantly influence customer trust and loyalty. Moreover, customer trust was identified as a critical mediator between electronic banking attributes and customer retention. The findings suggest that enhancing electronic banking attributes not only improves customer trust but also fosters loyalty, thereby enhancing customer retention rates for commercial banks. This research contributes to the existing literature by providing empirical evidence of the relationships between electronic banking attributes, customer trust, loyalty, and retention in the banking sector. Practical implications include recommendations for banks to prioritize investment in electronic banking infrastructure and customer trust-building initiatives to strengthen customer retention strategies.

Recruitment, retention and reporting of variables related to ethnic diversity in randomised controlled trials: an umbrella review

ObjectiveThis umbrella review synthesises evidence on the methods used to recruit and retain ethnically diverse participants and report and analyse variables related to ethnic diversity in randomised controlled trials.DesignUmbrella review.Data...

Three decades of nurses’ talent retention: a bibliometric analysis

Purpose Nurse turnover is perceived to be a major challenge for health-care administrators. The turnover is because of various factors like poor working conditions, low salaries, poor work–life balance and international opportunities. The purpose of conducting a bibliometric analysis on “Nurses’ Talent Retention” is to comprehensively analyze the trends, patterns and research contributions related to this area. By synthesizing and analyzing the existing literature, this study aims to identify key areas for nurse retention, thereby providing a foundation for further research, practical interventions and policy implications. Design/methodology/approach This research investigates talent retention practices in nursing from 1989 to 2023 by analyzing 427 documents from 213 sources sourced through Elsevier Scopus. Using the PRISMA framework, the study uses bibliometric analysis using the R studio’s biblometrix package. Key findings reveal a growing scholarly interest with an annual growth rate of 11.46%, an average document age of 7.93 years and an average citation rate of 43.26. Notably, international collaboration represents 17.56% of co-authorships, indicating the global relevance of the research. The study addresses three main research questions, including factors contributing to nurse retention in the Indian context, and implications for nurse well-being and turnover rates across different health-care contexts and countries. Findings The bibliometric analysis of nurse retention highlights several key findings. Magnet hospitals, accredited by the ANCC, demonstrate superior work environments, staffing levels and nurse outcomes, emphasizing the significance of nursing leadership and professionalism. The factors such as resilience, influenced by perceived competence, collaboration and coping strategies, highlight the importance of addressing psychological well-being in retention efforts. Transformational leadership and supportive work environments are associated with increased intentions for nurses to remain in their roles, suggesting the need for organizational practices fostering positive workplace cultures. Diversity management initiatives promoting inclusivity correlate with positive organizational outcomes, indicating the potential for diverse and inclusive workplaces to enhance nurse retention. Practical implications These findings provide substantial implications for health-care organizations and policymakers. Investing in nursing leadership and nurturing supportive work environments can enhance nurse satisfaction and retention. Implementing diversity management in recruitment practices can create inclusive workplaces, positively impacting nurse retention and organizational outcomes. Mandating staffing ratios may also improve nurse retention and patient care quality. Understanding the economic and organizational costs associated with nurse turnover emphasizes the need for effective retention strategies and healthy work environments. Originality/value This study contributes to the understanding of nurse retention dynamics by synthesizing findings from the literature. By highlighting the importance of nursing leadership, resilience and diversity management, it provides valuable insights for future research and practice in the field. The study also emphasizes the economic and organizational costs of nurse turnover, enhancing the urgency of implementing effective retention strategies.

Customer's Perception regarding Customer Retention Strategies Adopted by HDFC Bank: An Empirical Investigation

Customer's Perception regarding Customer Retention Strategies Adopted by HDFC Bank: An Empirical Investigation

Distributed assembly shop scheduling problem for complex products considering multiskilled worker assignment and transportation time

The distributed assembly hybrid flow shop scheduling problem (DAHFSP) is a type of distributed shop scheduling problem, and each distributed shop can be regarded as a hybrid flow shop. In distributed assembly processes for complex products such as satellites and missiles, transportation time and worker assignment have important effects on production scheduling. Based on real production situations, this study proposes a novel DAHFSP considering worker assignment and transportation time, aiming to minimise the makespan and the imbalance degree of worker workloads. First, to solve these problems, we construct a mathematical model and design a two-layer chromosome coding scheme including worker assignment and task sequence. Then, in the local search stage, we propose a mutation-based search method and an elite search method. On that basis, we propose a multi-objective evolutionary algorithm with reinforced elite retention strategy (MOEA-RERS). Finally, based on a set of 12 test instances generated by actual enterprise production data, we compare the MOEA-RERS algorithm with five multi-objective evolutionary algorithms. The results show that the MOEA-RERS algorithm is superior to other algorithms in terms of solution quality and distribution.

Integrating soft skill development with recruitment and retention strategies: the case of a small island state

PurposeThe purpose of this paper is to analyze the challenges relating to the integration of soft skill development with recruitment and retention strategies in small and micro businesses of a small island state. Recruitment and retention play an important role in the development of such skills, which make an impact on the effectiveness of employees in today’s workforce and the adaptability of organizations in a competitive market.Design/methodology/approachThis paper uses qualitative methodology, collecting data from 14 semi-structured interviews, and uses constant comparative analysis to derive findings. The process is facilitated by MAXQDA software.FindingsFindings indicate that organizations are faced with challenges in recruiting candidates with both technical and soft skills. Once the right candidate is recruited, efforts are made to retain staff by enhancing soft skills and their development despite challenges encountered in the process by owner-managers and human resource consultants.Originality/valueThe paper’s originality lies in the intensive investigation of challenges relating to recruitment and retention of employees and of the development strategies used as part of the employee lifecycle. Further, this paper studies the small and micro businesses of a small island state, which are generally overlooked in the literature.

Resilience-Building Recruiting and Retention Strategies for Small Business

Resilience-Building Recruiting and Retention Strategies for Small Business

Fuzzy PID control based on genetic algorithm optimization inverted pendulum system

Abstract For the first-order inverted pendulum control system, a fuzzy PID control system based on the optimization of the genetic algorithm is proposed. The traditional genetic algorithm has the problem that the difference in the fuzzy subset parameter leads to a decrease in the interpretative ability of the fuzzy system. The main problem of the current genetic algorithm is the complexity of the computation and the low efficiency. Based on this problem, this paper proposes an improved genetic algorithm, i.e., it adopts the variance operator and adaptive change of the variance index and elite retention strategy, which solves the premature and local convergence problems of the standard genetic algorithm, in order to optimize the fuzzy system. The experimental results show that the optimized genetic algorithm gives full play to the advantages of fuzzy control in terms of interpretability and robustness, and at the same time guarantees the prediction accuracy, which provides a new research idea in the field of artificial intelligence control.

Human Capital Turnover in the Construction Industry: A Review with Focus on Archies Construction Pvt. Ltd

This present research focuses on identifying the reasons behind the high rates of turnover among staff at Archies Construction Pvt Ltd and how the problem can be solved. Retirement, voluntary or forced termination is equally costly within the construction business as it heavily affects schedule, cost and organizational performance. This research also studies the internal factors referring to human capital theory, namely job satisfaction, reward, and promotion, management support, and the coercive factors including market trends and fluctuations, competition, and regulation. Employing survey and qualitative interviewing methods, the study combines the closed, quantitative survey data collected from employees and qualitative data obtained from the interviews with current and former employees of the company. The study brings out several internal factors that are important drivers of turnover such as lack of satisfaction with leaders, absence of career development in organizations, and poor employee remuneration. The problem is further compounded by external forces like the competition witnessed when seeking for the qualified personnel and the volatility of the market forces. The assessment points out that high turnover rates raise costs of hiring and training, impact project duration and employees’ morale thereby diminishing a firm’s stability. In response to these challenges, it is suggested that the following retention strategies should be adopted: it is proposed that leadership should communicate more effectively with employees; organizations should provide enhanced career progression plans for staff; and organizations should ensure that rewards and remuneration given to employees are competitive. Moreover, an enhancement of the degrees of employee engagement and supportiveness of workplace climate could enhance employee turnover. In other words, by managing both internal and external sources of turnover, it is possible for Archies Construction to maintain a stable workforce, exhibit sound labor productivity and, therefore, improve its performance on projects in general and its financial performance in specific. The study enhances the existing knowledge on HCM in industries that rely on projects and offers best practices for addressing turnover. Further research could focus on changes in economic or technological factors pertaining to workforce retention in the construction industry.

Millennial Employee Turnover: Contributive Factors and Retention Strategies in the Indonesian Industry

Millennial Employee Turnover: Contributive Factors and Retention Strategies in the Indonesian Industry

STRATEGIES FOR FINANCIAL GROWTH IN DENTISTRY: EXPLORING REVENUE STREAMS AND BUSINESS MODELS FOR MAXIMIZING PROFITABILITY

The Dental Industry is undergoing significant transformation as practitioners seek to enhance profitability amidst increasing competition and evolving patient expectations. Maximizing profitability in dentistry requires a multifaceted approach to financial management and strategic planning.This article explores various strategies for financial growth in dental practices, focusing on diverse revenue streams and innovative business models. It examines traditional methods such as expanding service offerings and optimizing billing practices, alongside emerging trends like implementing membership plans, utilizing advanced technologies and adopting value based pricing models.The study also highlights the importance of patient retention strategies including personalized care and effective communication in boosting long-term revenue [1,2].Through a detailed analysis of industry case studies and current trends, this article provides practical insights and actionable recommendations for dental practitioners. By leveraging these strategies, dental practices can enhance their financial performance, ensure sustainable growth and maintain high standards of patient care.

Factors Affecting Organizational Commitment in Catering Industry: Haidilao as a Case Study

Organizational commitment is crucial for organizational development. This study analyzes the case of Hai Di Lao to explore the factors influencing organizational commitment in the restaurant industry. The research methodology includes an online survey, yielding 418 valid responses. The results indicate that both results orientation and employee orientation significantly impact organizational commitment through mediating variables: career goal progress, career competence development, promotion rate, and salary growth. Specifically, results orientation significantly affects career goal progress, career competence development, promotion rate, and salary growth, while employee orientation also significantly influences these career-related outcomes. This study emphasizes the critical role of career competence development, promotion opportunities, and salary growth in enhancing employee loyalty, providing empirical evidence for HR managers and organizational leaders in the restaurant industry to design effective retention strategies. Additionally, it recommends that future research adopt longitudinal methods to explore other potential mediating variables, such as job satisfaction and work-life balance, on organizational commitment.

Customer retention strategies used by jubilee insurance in Burundi

The main purpose of this study was to assess the customer retention strategies used by Jubilee Insurance Burundi. The paper intended to answer to the following questions: what are the strategies used by Jubilee Insurance Burundi to attract customers? What are the challenges faced by Jubilee Insurance Burundi in so far as customer retention is concerned? How can Jubilee Insurance effectively increase its customer base? The results show that Jubilee Insurance Company of Burundi mainly attracts customers through sales representatives (34%) followed by advertisement (24%), Corporate social responsibility programs (18%), sales promotions (16%) and new product/service development (08%). The findings also indicate that the major challenges of customer retention at Jubilee Insurance Company Burundi are affordability of insurance services (32%), ineffective promotion (20%), competition (18%), government regulation policies (16%) and availability of trained staff. Finally, the respondents indicated that the management in insurance agencies need to employ skillful, knowledgeable and qualified marketing workforces (26%) who can effectively market the agency insurance services; they also indicated that the insurance agencies need to improve on delivery quality of insurance services (32%), adopt effective marketing strategies (24%), select efficient channel of advertisement (18%) and as well as advertise aggressively to attract more customers.

Increasing the diversity of the teaching workforce: a review of minority teacher candidates’ recruitment, retention, and experiences in initial teacher education

ABSTRACT Diversifying the teaching profession is critical for social justice and equity in education. Yet, teacher candidates from ethnic minority backgrounds remain underrepresented in initial teacher education (ITE) programmes in many countries. This paper reports on a review of 40 studies that examine the experiences of minority teacher candidates and the strategies to improve their recruitment and retention. Findings reveal structural and institutional barriers that affect minority teacher candidates’ experiences and their transformative power and agency to navigate these challenges. Recruitment and retention strategies are identified. This paper contributes to the discourse on equity, diversity, and inclusion in teacher education and offers insights for policymakers and ITE providers. Implications for policies and practice are discussed.

Hindrance stressors and turnover intentions among preschool teachers: The mediating role of work engagement and the moderating effect of meaningful work

BackgroundTeacher turnover in preschool settings poses significant challenges to educational quality and stability. Understanding the factors that influence turnover intentions is crucial for developing effective retention strategies. ObjectiveThis study aims to explore the relationships between hindrance stressors and turnover intentions among preschool teachers, with a particular focus on the mediating role of work engagement and the moderating effect of meaningful work. MethodsParticipants were recruited from Shanghai, China. The study involved 220 preschool teachers, with a mean age of 32.35 years, the majority of whom were female. All participants completed the Hindrance Stressors Scale, the Turnover Intention Scale, the Work and Meaning Inventory, and the Utrecht Work Engagement Scale. ResultsFindings indicate a positive association between hindrance stressors and turnover intentions, partially mediated by decreased work engagement. Additionally, meaningful work was found to moderate the relationship between hindrance stressors and work engagement; it can mitigate the adverse effects of hindrance stressors on work engagement. ConclusionAddressing hindrance stressors and fostering work engagement and meaningful work are essential for mitigating turnover intentions. These insights offer valuable guidance for educational administrators in enhancing teacher retention and improving workplace well-being.

Tailored approach to participant recruitment and retention to maximize health equity in pediatric cancer research

BackgroundLack of diversity in participants throughout the research process limits the generalizability of findings and may contribute to health disparities. There are unique challenges to recruitment of families to pediatric cancer research studies, especially for those from disadvantaged backgrounds. Thus, there is a need to evaluate the most effective recruitment and retention strategies to optimize equitable recruitment of diverse participants.MethodsThe present study adapted and implemented methods outlined previously in the literature. These previous efforts were developed to address barriers to pediatric research, behavioral health intervention research and research with Black adolescents. Recruitment and retention strategies are described across four different time points: pre-approach, initial connection, building connection and follow-up. Eligible families of children with a pediatric cancer diagnosis were approached during a routine oncology visit. Once consented, enrollment and retention rates over three timepoints of data collection were recorded and evaluated.ResultsResults indicated high rates of enrollment (86%) and retention (95%) for eligible participants. There were no trends in heightened attrition for any specific subgroup.ConclusionsThe findings of this study are promising and suggest these recruitment and retention strategies may be useful in recruiting individuals from disadvantaged backgrounds.

Pre-Randomization Predictors of Study Discontinuation in a Preclinical Alzheimer’s Disease Randomized Controlled Trial

BackgroundParticipant discontinuation from study treatment in a clinical trial can leave a trial underpowered, produce bias in statistical analysis, and limit interpretability of study results. Retaining participants in clinical trials for the full study duration is therefore as important as participant recruitment.ObjectiveThis analysis aims to identify associations of pre-randomization characteristics of participants with premature discontinuation during the blinded phase of the Anti-Amyloid treatment in Asymptomatic AD (A4) Study.DesignAll A4 trial randomized participants were classified as having prematurely discontinued study during the blinded period of the study for any reason (dropouts) or completed the blinded phase of the study on treatment (completers).SettingThe trial was conducted across 67 study sites in the United States, Canada, Japan and Australia through the global COVID-19 pandemic.ParticipantsThe sample consisted of all 1169 A4 trial randomized participants.MeasurementsPre-randomization demographic, clinical, amyloid PET and genetic predictors of study discontinuation were evaluated using a univariate generalized linear mixed model (GLMM), with discontinuation status as the binary outcome, each predictor as a fixed effect, and site as a random effect to account for differences among study sites in the trial. Characteristics significant at p<0.10 were then included in a multivariable GLMM.ResultsAmong randomized participants, 339 (29%) discontinued the study during the blinded period (median follow-up time in trial: 759 days). From the multivariable analysis, the two main predictors of study discontinuation were screening State-Trait Anxiety Inventory (STAI) scores (OR = 1.07 [95%CI = 1.02; 1.12]; p=0.002) and age (OR = 1.06 [95%CI = 1.03; 1.09]; p<0.001). Participants with a family history of dementia (OR = 0.75 [95%CI = 0.55; 1.01]; p=0.063) and APOE ε4 carriers (OR = 0.79 [95%CI = 0.6; 1.04]; p=0.094) were less likely to discontinue from the study, with the association being marginally significant. In these analyses, sex, race and ethnicity, cognitive scores and amyloid/tau PET scores were not associated with study dropout.ConclusionsIn the A4 trial, older participants and those with higher levels of anxiety at baseline as measured by the STAI were more likely to discontinue while those who had a family history of dementia or were APOE ε4 carriers were less likely to drop out. These findings have direct implications for future preclinical trial design and selection processes to identify those individuals at greatest risk of dropout and provide information to the study team to develop effective selection and retention strategies in AD prevention studies.

The Mediating Role of Talent Management in Succession Planning and Private Organization Sustainability: A Conceptual Article

In the contemporary landscape of business, talent management has emerged as a strategic imperative for organisations aiming to enhance their performance and ensure long-term sustainability. The recognition of talent management's significance lies in its ability to attract, retain, and nurture key talents within an organisation. This process is particularly crucial for private enterprises, where human capital plays a pivotal role in driving innovation, productivity, and competitive advantage. Talent management operates within the broader framework of succession planning, which itself is a critical component of effective human resource planning. Succession planning involves identifying and developing internal talent to fill key leadership positions as they become vacant. This proactive approach not only mitigates the risks associated with leadership transitions but also ensures continuity and stability within the organization. This study delves into the intricate relationship between talent management and succession planning, specifically focusing on their impact on organizational sustainability. By conducting a comprehensive review of existing literature, the study aims to uncover insights into how talent management practices contribute to shaping effective succession planning strategies. Key areas of investigation include planning practices, training and development initiatives, performance appraisal systems, talent retention strategies, and overall talent management policies. Through the proposed conceptual model, the study seeks to elucidate the dynamics that connect succession planning and organizational sustainability within the context of talent management. By integrating these elements, organizations can better align their talent strategies with long-term sustainability goals, thereby enhancing their resilience and competitive positioning in the Nigerian business landscape.

Predicting Job Change Intentions for a Food Manufacturing Company: A Deep Learning Case Study

This study aims to address employee job change intention in the competitive food manufacturing industry by developing deep learning models to predict job change intentions. Using a comprehensive dataset of 32,000 employee records, including demographics, education, and work experience, the study employed a quantitative methodology with neural network analysis. Various deep learning models were implemented and evaluated using TensorFlow and Keras, with techniques like GridSearchCV, Random Search CV, SMOTE, and Keras Tuner used for hyperparameter tuning and addressing class imbalance. The findings revealed significant differences in model effectiveness, with Model 7: Complex Neural Network Architecture, featuring a complex architecture and appropriate regularization, achieving a reasonable balance across metrics and demonstrating improved recall for job changers. This suggests its suitability for predicting job change intention in a food manufacturing company. The study concludes that well-tuned deep learning models can significantly enhance predictive accuracy, offering valuable insights for HR professionals to develop targeted retention strategies. Future research should explore additional features influencing staff job change intention, validate these models across diverse organizational contexts, and integrate real-time data analytics and explainable AI techniques to improve transparency and effectiveness in HR practices.

The Impact of Customer Retention on Organization Profitability in the FMCG Sector in Nigeria

In the competitive domain of fast-moving consumer goods (FMCG), retaining customers is essential for the overall organisational performance of an FMCG company. This research investigated the impact of customer retention on organisational profitability in the Fast-Moving Consumer Goods (FMCG) sector in Nigeria. The study employed a cross-sectional survey approach, with data collected from 248 employees in 10 different FMCG companies in Oyo State, South West, Nigeria. The findings revealed a strong positive correlation (r=0.783) significant at p &lt; 0.01 between customer retention and organisational profitability, highlighting customer retention as a key driver of sustained profitability. The study further explored specific components of customer retention, including personalised marketing, loyalty programs, quality products, and customer support, all of which showed strong positive associations with organisational profitability. Survey results indicated that customer satisfaction is a leading factor contributing to customer retention, emphasising the importance of understanding and meeting customer expectations. Based on these findings, recommendations are provided for FMCG companies to prioritise customer retention strategies, such as personalised marketing and quality customer support, to enhance organisational profitability and success in the Nigerian FMCG sector.