Examination of job related needs, desires and expectations associated with employees’ retention in the commercial banks of Dar es salaam:cases of CRDB bank, Barclays bank and Stanbic bank head offices

This study is about labour turnover which is one of the most critical challenges facing organizations today. Employee retention remains one of the major challenges for many organizations due to stiff competition for the best employee talents. Three commercial banks (CRDB Bank, Barclays Bank and Stanbic Bank) have been studied as representative cases. This study aimed at examining the extent to which employees’ needs, desires and expectations are associated with employee retention in the commercial banks of Dar es Salaam. The selected commercial banks’ head offices are used to draw insights to account for similar situations in other banks in the industry. The selection of these commercial banks (CRDB Bank, Barclays Bank and Stanbic Bank) was largely influenced by the fact that those banks have recently experienced remarkable labour turnovers. The study used the survey strategy and collected data with questionnaires. The sample of 54 representatives of the population was determined by using stratified sampling procedures followed by random sampling of respondents. The collected data were analyzed with SPSS and summarized by the use of tables, figures, frequencies and percentages. The findings revealed that employees’ needs, acceptance, friendship, self-confidence, salaries and career development are important retaining employees. Besides, employees are made happier when organizations; meet their desires, show commitment, provide opportunities for advancement, and provide good working environment. They expect good supervision, seniority benefits, status, job security, and competence development. From the findings the study recommends that employers should set employee retention strategies from employees’ needs, desires and expectation preferences