Solution to solve high attrition rate: a case at HLB in Ho Chi Minh City

Abstract

This research seeks to determine the specific causes of HLB's high turnover or attrition rate and its detrimental consequences on the bank’s performance. The word “employee turnover” is a vital indicator that is often fundamental to the personnel planning and strategy of enterprises. Senior management and human resource experts in the banking business have paid considerable attention to the effect of this turnover (attrition). To investigate the attrition rate in more depth, this study will investigate the primary causes of attrition, its impacts, and provide strategies for retaining employees and reducing turnover rate at HLB. The findings of this research are anticipated to be useful in the future for implementing corrective measures to reduce staff turnover, which is one of the most influential factors in determining the overall profitability of the banking business. The high turnover rate at HLB, its reasons, and how it affects the organization’s performance are all examined in this thesis. Every company’s turnover rate is being more recognized as being important. Data for the research was collected and analyzed via interviews. The findings of the interviews show that the company has a significant turnover rate. Reduced output, schedule delays, and a desire to quit are the three effects of a high turnover rate. It was determined that there was a negative relationship between a high turnover rate and job satisfaction in terms of pay and organizational commitment in terms of emotional commitment. This study also provides HLB with ideas and action plans to reduce turnover and enhance performance.