ABSTRACT
Employee retention is one of the biggest challenges facing Nigerian banks (Adedeji & Ugwumadu, 2018). The study was carried out to examine the effect of employee retention strategies on organisational performance in Unity Bank Plc. The specific objectives of the study were to examine the impact of reward system, training and career development opportunities, supervisor support and work environment on organisational performance in Unity Bank Plc.
To achieve the objectives of the study, quantitative survey research design was adopted by examining 365 employees across the 243 Unity Bank branches in Nigeria, using questionnaire subjected to reliability test. The collected data were analysed using descriptive statistics and multiple regression equations. From the analysis carried out, it was revealed that reward system, training and career development opportunities and supervisor support have a positive significant impact on organisational performance in Unity Bank Plc. However, the work environment had a negative impact on organisational performance.
Considering these findings, the recommendations flowing from this study includes employing a very competitive compensation system by the organisation to influence staff retention and performance. Also, career growing opportunities and expertise growth, training, and career development opportunities should be availed to the employees, especially the high performers. In addition, regular line managers’ engagement sessions should be held to ensure that supervisors are properly equipped to manage their team members effectively. Finally, every organisation should create an excellent working condition, made up of the financial and non-financial supports, to ensure talent retention.
