Date of Conferral
2022
Degree
Doctor of Business Administration (D.B.A.)
School
Management
Advisor
Carole-Anne Faint
Abstract
AbstractThe banking industry is fraught with low employee retention threatening the bank’s ability to perform optimally. Bank managers who fail to implement strategies to retain skilled employees experience reduced productivity and increased turnover costs. Grounded in the job embeddedness theory, the purpose of this qualitative single-case was to explore strategies bank managers use to minimize employees' intent to leave during downtimes in the banking industry. The participants were four employees of a Fortune 500 bank located in the U.S. in Virginia. Data were collected using semistructured interviews and a review of organizational employee handbooks. The six themes identified through a thematic analysis were merging of skillsets, reduction of turnover, strategy relevance, continuous training, incentives, and workplace culture. A key recommendation is for bank managers to acknowledge employees' achievements through monthly employee recognition and ongoing training, incentives, and workplace culture. The implications for positive social change include the potential to enhance the quality of life for skilled employees in the bank industry.
Recommended Citation
Martin, Lana Faye, "Bank Manager Strategies to Retain Skilled Employees Beyond 5 Years" (2022). Walden Dissertations and Doctoral Studies. 13556.
https://scholarworks.waldenu.edu/dissertations/13556
