Analyzing the Factors Influencing Employee Turnover in Private Commercial Banks in Bangladesh

Abstract

Employee turnover turn into central issue to focus for organization’s workforce development and strategy. Almost all private banks of Bangladesh have superior formation with excellent benefits but employee turnover occurs regularly. There are some factors that influence employee to leave the organization. The purpose of this research is to analyze the factors that influence employee turnover in private banking sector in Bangladesh. Time period of this is from 01 March, 2015 to 31 May, 2015. A total of 16 variables responsible for influencing employee turnover are selected from related literature. Factor analysis has been conducted to reduce the number of total variables. Bartlett’s test of Sphericity has been used along with the Kaiser-Meyer-Olkin (KMO) statistic. SPSS 16.0 has been used to analyze the data collected from primary sources through random sampling technique. This analysis reveals that tangible and intangible Compensation, physical stress out of organizational support, inconsistency of supervision and business status, underprovided hygiene factor, lack of proper training and development and transfer of jobs are the most important factors that may influence employee turnover. From this study the private banks of Bangladesh can get a clear view about the factors that may influence employee turnover of their respective organization in order to reduce turnover.