Date of Conferral
Doctor of Business Administration (D.B.A.)
Banking leaders face the loss of profitability because of low employee retention in their organizations. Retention issues negatively affect business operations and market performance. The purpose of this multiple case study was to explore strategies that investment-banking leaders use to retain frontline employees. Herzberg's 2-factor theory was the conceptual framework for this study. Data were collected through semistructured interviews with 5 banking leaders in New York and through a review of company documents on retention strategies. The data were analyzed using Yin's 5-step process of compiling, disassembling, reassembling, interpreting, and concluding data. The 3 themes that emerged from data analysis were career growth strategy, compensation strategy, and training and development strategy. The study findings indicated that banking leaders used career advancement, compensation, and training and development strategies to retain frontline employees. The implications of the study for positive social change include banking leaders' potential to reduce retention issues in organizations, lower unemployment rates, and improve the standard living in the communities they serve.