Date of Conferral

3-6-2024

Date of Award

March 2024

Degree

Doctor of Psychology (Psy.D.)

School

Human Services

Advisor

RACHEL GALLARDO

Abstract

The outbreak of the novel Coronavirus pandemic in late 2019 brought about a lot of challenges that affected several sectors and industries. The current research focused on assessing the impact of the Coronavirus pandemic on employee turnover within the financial institutions in Ghana with a specific focus on women employees. Financial institutions are significant pillars of the Ghanaian economy, and they contribute to economic growth and provide essential financial services to businesses and individuals. Through Vroom’s expectancy theory and a qualitative phenomenological approach and analysis, the study was designed to explore the factors that contributed to employee turnover with a focus on one financial institution in Ghana. In addition, the circumstances necessitated by the pandemic that led to increased turnover rates in the financial institution were examined such as layoffs, remote work adaptations, financial stress, and health concerns during the pandemic. A sample of 32 former female employees were interviewed and answered nine interview questions. Their experiences, perceptions, and coping strategies adopted during the pandemic were recorded. The study found that the morale of the team was low, and several of the staff were frustrated and resigned. The fear of seeing several colleagues getting laid off also prompted some of the participants to seek jobs elsewhere, leading to mass resignations. Based on the results, recommendations would be salary cuts and adaptation of future work tools to prevent organizational collapse. The implication for positive social change would be for the management of the financial institution to adapt business strategies to promote business sustainability and survival.

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