The impact of employee retention strategies on employee turnover

Abstract

The aim of the study "The Impact of Employee Retention Strategies on Employee Turnover in UCB brokerage house" was to determine how employee retention tactics affect employee turnover in the UCB brokerage house in Bangladesh. The study adopted a mixed-methods research approach, involving both qualitative and quantitative data collection methods. A survey questionnaire was used to collect quantitative data from employees, while in-depth interviews were conducted to collect qualitative data. The study found that effective retention strategies, such as fair compensation packages, job security, and opportunities for career advancement, have a momentous influence on reducing employee turnover in the UCB brokerage house. The study also revealed that a positive work environment, effective communication, and work-life balance are crucial factors in retaining employees. Organizations can use the study's findings to devise and put into practice effective staff retention strategies that can lower employee turnover rates.