High turnover rate and job stress of salesman in orient commercial bank

Abstract

Banking industry has been witnessing a lot of growth, improving on its technological and global competition within banks. With the strategy to expand the market, OCB has a plan to establish more than 20 branches and agencies throughout Vietnam from 2017-2020, it create the need of a huge human resource to run this business plan. However, the turnover rate of OCB has been continuously growing by recent years. The objective of this research is to find out what problems are affecting OCB employee retention and making high turnover rate over recent years. Using secondary data from the HR department and primary data from in-depth interviews with two groups of interviewees who are the current employees and ex-employees who quit job at OCB, the research found out that the job stress is the central business problem that leads to the high turnover rate. Next, in deeper analysis about potential causes of the problem, it is found that work overload, and work-life imbalance or work-family conflict are root causes leading to job stress . Forwards, the paper suggests that the alternatives which is mixed combination of the redesign and apply the new model to put the right person into right function in sales team are proposed to reduce the job stress of OCB salesman. Finally, the action plan with detailed steps was presented to implement this solution