Date of Conferral
Doctor of Business Administration (D.B.A.)
Employee retention of an organization's most talented and skilled employees is vital to success. A lack of managerial strategies for motivating teams and a lack of understanding employees' needs adds to an increased rate of employee turnover in banking organizations. Some bank managers do not possess the abilities and strategies required to reduce employee turnover. Grounded by the motivation-hygiene theory; the purpose of this qualitative case study was to explore successful strategies some bank managers used to reduce employee turnover. The population consisted of 5 banking managers in 3 banking organizations located in Toronto GTA, Ontario Canada in which successful retention strategies have been implemented in the last 5 years. Data were collected from semistructured face-to-face interviews and employee handbooks. Member checking aided to assure the credibility of the analysis and interpretations. Data were analyzed by using coding techniques to identify keywords, phrases, and concepts. The process led to the following 4 themes: (a) the motivational effect to retain bank employees, (b) management traits to retain bank employees, (c) effective strategies to retain bank employees, and (d) trends shaping future retention of bank employees. The implications for social change include the potential to reduce turnover by improving the employee work experience and retaining talent by building a positive work environment and a positive customer experience.