Factors influencing labour turnover intentions in the banking industry in Tanzania: a case of access bank Tanzania Limited

This study examined the factors influencing labour turnover intentions in the banking industry in Tanzania using Access Bank Tanzania Limited as a case study. Specifically, the study examined factors leading to job turnover intentions and the impact of voluntary or non voluntary turnover at Access Bank Tanzania. It also investigated the employee attitude on turnover intention. The study employed both qualitative and quantitative research design. Data were collected in Dar es Salaam region from Access Bank operational workers, administrational workers and Customers. A total number of 92 (100%) respondents filled in the questionnaires. In this study both primary and secondary data were used. Data were analyzed quantitatively and Statistical Package for Social Science (SPSS) was used on data processing. The study revealed that, there are various factors leading to employees’ turnover at Access Bank. Among these factors are lack of freedom to make decisions about how to do the jobs, poor motivation to Access Bank workers, decisions made by top management, change of government policies and lack of decision-making ability. Also, the study findings on impacts of voluntary or non-voluntary turnover at Access Bank Tanzania, depicted that majority of respondents agreed that employee’s decision to leave the job leads to the increase in the cost of advertising new jobs, increased cost and long time training of workers, increase in recruiting and selecting costs, workers feel not motivated to work, and the remained workers work under stress and pressure. Moreover the study finding revealed that workers decide to leave the work because they feel there is a poor working environment, they expect a good salary payment from other organizations, they fail to get job experience they expect, they leave to get new job challenges and they leave due to poor job security. The study recommends that Access bank should come out with the good strategies as well as implement them effectively so as to minimize or eradicate the employees’ turnover. It is also recommended that the human resources department should be improved by employing the professional ones who have good experience and knowledge about managing the employees in order to minimize the employees’ turnover.