Reducing employee turnover rate – the Case Of Agribank Cho Lon

Abstract

This study analyzes the case of Agribank Cho Lon with the symptom is high turnover rate in recent years. Human resource is often considered as the most valuable assets in all organizations. Recruiting and retaining employees in organizations is not only tasks of Human Resources but also involves all other departments. Therefore, managers and Board of Director in organizations should care the employees, understand their expectations as well as their difficulties, then give some possible solutions to help company to motivate and increase their competency. By doing so, organizations can reduce employees turnover rate as well as enhance company performance. With the secondary data provided by General & Administrative Department and primary data collected during the in-depth interviews with three groups of the company’s leaders and the employees who are currently working in Agribank and who are also left the company, it revealed that income dissatisfaction, job stress, and poor motivation are potential problems that lead to the high turnover rate in Agribank Cho Lon. By analyzing the interview results and using literature review, the main problem is identified as poor motivation, which caused by no recognition, lack of training and lack of career growth opportunities, that leads to the high turnover rate in Agribank Cho Lon. After finding the main cause of high turnover rate, alternative solutions are designed and justified. The solution of rotating employee role is suggested by the managers, selected by the exiting employees and supported by the company Director for execution. Then, the detailed action plan of this solution is presented to the company for implementation to solve the problem.