Factors Effecting Turnover Ratio in Banking Industry

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Factors Effecting Turnover ratio in Banking Industry
FINAL YEAR PROJECT
Topic: Factors effecting Turnover ratio in Banking Industry
SUBMITTED BY S.TAZMEEN ZAHRA SHIRAZI Registration no.: BBA-01-08-4115
SUPERVISOR AIJAZ ALI
Prepared By: S.Tazmeen Zahra Shirazi
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Contents
ABSTRACT.............................................................................................................................................................................. 4 Introduction: .......................................................................................................................................................................... 5 Objective of Research ............................................................................................................................................................ 5 Scope of Project: .................................................................................................................................................................... 5 Literature Review ................................................................................................................................................................. 6 List of Variables for Research: ......................................................................................................................................... 14 Research Model: ................................................................................................................................................................ 15 Population:....................................................................................................................................................................... 16 Size of Population .......................................................................................................................................................... 16 Sampling Technique: ..................................................................................................................................................... 16 Justification:..................................................................................................................................................................... 16 Sample Size: ................................................................................................................................................................... 16 Justification...................................................................................................................................................................... 17 Factor Analysis Model: ...................................................................................................................................................... 17 Complete Instrument Questionnaire ............................................................................................................................. 18 Topic: Factors effecting turnover ratio of employees in Banking Industry .......................................................... 18 Proof of Validity: ................................................................................................................................................................. 21 RELIABILITY ....................................................................................................................................................................... 21 Reliability ......................................................................................................................................................................... 22 Scale: ALL VARIABLES ................................................................................................................................................ 23 Reliability Statistics ........................................................................................................................................................ 24 Process of Pilot Test: ......................................................................................................................................................... 24 Justification for Evaluation technique: .......................................................................................................................... 25 Reason for using Factor Analysis ................................................................................................................................. 25 Banking Industry for Research-Meezan Bank Limited: ................................................................................................ 26 Analysis of Data:............................................................................................................................................................. 27 Factor Analysis: .............................................................................................................................................................. 28 Descriptive Statistics ...................................................................................................................................................... 30 Interpretation of Result: ................................................................................................................................................. 32 Correlation Matrixa.............................................................................................................................................................. 33 Interpretation of Result: ................................................................................................................................................. 35
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KMO and Bartlett's Test .................................................................................................................................................... 35 Interpretation of Result: ................................................................................................................................................. 35 Component Matrixa............................................................................................................................................................... 36 Interpretation of Result: ................................................................................................................................................. 37 Total Variance Explained .................................................................................................................................................. 37 Interpretation of Result: ................................................................................................................................................. 37 Communalities .................................................................................................................................................................... 38 Interpretation of Result: ................................................................................................................................................. 38 Rotated Component Matrixa ............................................................................................................................................. 39 Interpretation of Result: ................................................................................................................................................. 40 Interpretation: .................................................................................................................................................................. 41 Summarized List of Research Questionnaire Response: ............................................................................................ 41 Key Results: ........................................................................................................................................................................ 42 Conclusions: ........................................................................................................................................................................ 43 Recommendations: ............................................................................................................................................................ 44 References .......................................................................................................................................................................... 45
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ABSTRACT
Experienced employees are asset of any organization. To retain these workers employer & HR has to play key role in this regard. High turnover rate has bad impact on company reputation & performance. Competitive edge can be gain through reducing turn over in company. High turnover is affecting all industries at all level. Reducing high turnover results in highly motivated well experienced & talented employee .Brief analysis of factors which are affecting turnover is essential theme of this research project. Particularly focusing on Banking Industry Meezan Bank, State bank, UBL,NBP targeting total 250 respondents from these banks.
KEY WORDS
Monetary Benefits, Organizational culture , Employee Interpersonal relationship, Job Stress, Work life balance, Internal & external organizational factor, Job involvement, Career growth, Recognition, Empowerment, Realistic job preview, Job matching, Over reliance, Poor hiring practices, Employee resistance towards organizational change.
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Introduction:
There were several reasons in my mind while choosing this topic for research purpose. In this current business environment high job dissatisfaction is found in employees. Various factors would be study through this research project.
Objective of Research:
Identifying the main factors which are more influencing over turnover ratio Impact of these factors on turnover Employee turnover is controllable factor by managers
Scope of Project:
Factor analysis for turnover ratio is beneficial for company growth & long term goal achievement. Due to recession and job dissatisfaction have strong influence on employee working condition? In this research internal & external factors would be study in comprehensive way. By the help of this research analysis role of these factors we can reduce or eliminate the risk of high turnover. According to current scenario job switching is become burning issue for all industry level. Proper HR strategies & policies can easily minimize this issue. High turnover results in high Recruitment and selection cost to organization which effect company budget & performance as well. For the sake of company good will and long term goals and business objectives achievement organization need experienced, talented, satisfied and committed employees and its only comes through by reducing or eliminating turn over ration in company.
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Background of Research:
Employee turnover is the hottest and current issue that always discusses by the government since we are confronted with the global economic crisis on 2008. The crisis of economic is directly affected to the corporation especially the production line and manufacturing company. The unexpected crisis will arise the employee turnover rate happened no matter for voluntary or involuntary case and it achieved the highest rate within the past 20 years in Malaysia as well. Therefore, other than the efforts and measurements had been taken by the government like donated sustention fund to secondary industry, the efforts of employers is vital to minimize the employee turnover. On the other hand, the advance knowledge likes the significant of compensation and benefits package toward the employee and the preference of employees toward the different types of compensation and benefits package are necessary to implant and infuse to the all the employers in order to retain their quality workers. There are some factors are directly influence to the employee turnover in the real working environment. The employers will enjoy the benefits if they manage to retain their employees or minimize the employee turnover problem by implementing the felicitously compensation and benefits package.
The higher employee turnover rate is considering the severely problem to particular country because it is absolutely bring negative effects in progressing development. The employee turnover rate is definitely cannot be terminate but I sincerely wish that this problem is able to fully minimize. I strongly believe that the compensation and benefits ways might able to minimize the employee turnover in the working place.
Literature Review:
Turnover in companies varies from industry to industry its found that high turnover is common in private sector as compare to public sector Levels of turn over varies from region to another region. (Shamsuzzoha & Hassan, 2006) Highest rates are usually found where un-employment rate is low and alternative more attractive opportunities are available. Employee turnover is in any organization is a costly expense particularly in lower paying positions in which employee turnover is high in this way major factors are described as wages, company benefits, employee attendance and job performance which plays vital role in employee turnover. (Deepa & Stella, 2012)
At times turnover is positive for organization as it replaces poor performer by more skilled similarly retired worker by new and young blood. Turnover is costly for organization as it requires different cost to take account such as admin and R&S. Increased turnover surely effect high financial cost to organization it could be in direct or indirect way. (Guma, 2011) Its important to reduce turnover ratio into numbers as soon they have to realize actual cost of turnover in company prospective. Cost impact certainly at times results to become serious strategic issue for company.
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Performance of companies has been seriously affected by high turnover rate within the organization. (Guma, 2011) On the other hand cost of covering during the period when there is vacancy or position is existing. (Shamsuzzoha & Hassan, 2006) Training cost for new employee also affected by turnover. Alternative jobs usually pull them to quit from previous job employees are being forced to quit job because of high level of dissatisfaction from current workplace or personal issues related to their when someone reorganize or shifted with their partner. Performance of organization may also affect turnover. At times organization seeming to be in an exceptional economic recession will surely cause the presence of impeding organizational layoffs in company. (Deepa & Stella, 2012) Sometimes its rare for workers to quit jobs in which they are satisfied even higher salaries are offered by other employers existing in Industry. (Shamsuzzoha & Hassan, 2006) Employees mostly in such circumstances believe that its right time to seek another job. Organizational Culture has influence over each employee. (Deepa & Stella, 2012) Lack of good relationship with supervisor is basic reason for job switching. Consistently increased turnov er cause difficulty for company to survive in industry. In broad labor market where growth or achievement of any organization totally lies on workforce with technical skills, recruiting fresh talent and retaining the required talent and experienced workers can certainly decide the success or failure of company. (Guma, 2011) Lack of training and development is an important reason for quitting from current job. People used to give priority for security of their jobs. Good environment and & Culture of organization may reduce high turnover.
For employer losing a single key worker may decreases the like hood of project success and investor confidence can be reduce in the company? Main causes of Turnover are Salaries Working environment and security of job. Turnover particularly arises from unhappiness from job place. (Shamsuzzoha & Hassan, 2006) Availability of alternative job with higher paying was major reason it comes only when economy is in better condition or when economy is at boom. Similarly characteristics of jobs can also effect turn over of company some jobs are intrinsically attractive and some are extrinsically. Turnover has bad influence over employee job satisfaction of existing or remaining employees turnover is affected to those workers when they enforced to assume the workload of leaving colleagues or communicating problems linked with their leaving. (Guma, 2011) Rest of team member could be diverted by their concern and especially why workers are switching their jobs. Turnover has negative impact on image of organization and surely result the adverse good will of company. (Guma, 2011) Job attractiveness is affected by repetitiveness, challenges, danger perceived importance and sense of accomplishment.. (Shamsuzzoha & Hassan, 2006) Alternative job Opportunities, Lack of interpersonal relations, Lack of training & Development, Impressive salaries, Working environment, Bored job contents
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High turnover linked in specific conditions with demographic & biographical characteristics of workers. Personal factors is also involved in turnover include individual personal & trait based factor. In this way personal factor include things such as change in family situation desire to learn and adapt new skills and unsolicited job offer. (Shamsuzzoha & Hassan, 2006) Particularly reward system is the strength of true deserving leader of organization to extract a sense of commitment or loyalty on the part of workers (Deepa & Stella, 2012) This practice will help us in establishment of sense of sharing goals and accomplishment of goals between team members on the other hand among rest of factors will have impact in a way indices the high level of job satisfaction as turnover intention and turnover rate of company. (Deepa & Stella, 2012) Different people react differently in particular situation according to their and personality. Demographics, Personal traits. Employees shows expertise not matched with job assigned to them could be reason of leaving. (Shamsuzzoha & Hassan, 2006) Its too not easy for them whose skills are being underutilized may become reason for discouraged or taking the decision for quit the job. Documentation practice usually waste HR people time and take owner precious time and resources away from more productive and important responsibilities. Interruption of social and communication network within organization and outside organization. (Guma, 2011) On the other hand sub standard equipment tools and facilities. If working place lack basic facilities such as proper lightening, furniture additional facility rest rooms and other essential health and safety provisions then employee will definitely not be willing to put up with inconvenience at workplace for long time or willing to stay there for long time. (Shamsuzzoha & Hassan, 2006) Lack of Job Matching, Lack of basic facilities or working environment Lack of communication increase turnover employees mostly feel comfortable as they have empowerment and delegation given by their respective boss. Non involvement in decision making of organizational goals may
Results in high turnover. Its observed that increased turnover may arises poor and week HR policies ,lacking recruiting and super visionary procedures , poor grievances practices and lack of motivation. (Dwomoh & Korankye, 2012) Similarly frequently increased turnover result lots of customer complaints due to hiring new employee in the organization. (Dwomoh & Korankye, 2012) Job Insecurity, Lack of empowerment & delegation. Exit problem of employee and particular issues are also directly linked with turnover on office multiple organization spent appropriate time and resources for addressing basic issues of leaving workers from organization. (Guma, 2011) Lack of opportunity for advancement or growth is another major reason for leaving. If the job is particularly dead-end proposition it should be communicated or acknowledged to employee before hiring which result in not to give the wrong impression about the job which is offered to new employee. (Shamsuzzoha & Hassan, 2006)
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Most of these costs could be attributed to mistake, errors and poor performance/service. On the other hand extended probation period may increase job insecurity as employees realize that they are not protected as for as their jobs concern easily motivate them to quit as any other permanent job comes in their way. (Dwomoh & Korankye, 2012)
Job contents should be communicated precisely particularly avoiding fake hopes for growing/promo tion on working at current job. Feeling for not appreciated is major reason in job switching as employee commonly want you do good job it shows that they certainly want to be appreciated and recognized for their outstanding performance among other staff. (Shamsuzzoha & Hassan, 2006) Turnover of operational managers considered as very serious threat by providing external customer service by delivering product. Lack of technical skills related to specific field especially in most competent knowledge (Guma, 2011)
Expertise specifically knowledge industries is critical for owner (Guma, 2011)
At times most trained and key employee need feedback that what he or she is doing right once in completion of each task given by their boss. (Shamsuzzoha & Hassan, 2006)Lack of career growth, Lack of Recognition/Appreciation
Key words for this research are Labor turnover, Customer complaints, Performance banking industry (Dwomoh & Korankye, 2012)
Lack of supervision or training playing vital role in turnover employees need continues guidance and direction in achievement of organizational goals/task which is assigned by boss. (Shamsuzzoha & Hassan, 2006) Organizational change and employee response towards adoption also effect increased turnover. (Holtom & Mitchell, 2008)
New worker may need extra help in learning new and unfamiliar innovative job assignments. Increased absenteeism rate in training sessions could be the reason of workforce to fall behind their actual level of output and at times feels that they are incapable of performing or lacking essential abilities to perform. (Shamsuzzoha & Hassan, 2006) Some employees respond in work irritation and turnover intention. Stress may cause lower job satisfaction lower organization commitment and more withdrawal behaviors. (Holtom & Mitchell, 2008)
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Unequal or sub standard wages structure in companies playing important role in increased turnover rate biasness or low pay is major cause of disappointment and can results to some employees decide to leave. (Shamsuzzoha & Hassan, 2006)Individual differences are directly involved in job switching. in this way personality may be operating directly on whether one leaves his or her job. (Dwomoh & Korankye, 2012)
Similarly new talent of company may surprise that why the next person to him is getting higher salary as compare to him for what is supposed to be the same work. Turnover is directly related to productivity of organization. (Shamsuzzoha & Hassan, 2006) Biasness/ Unequal or sub standard in pay structure. Expansion of previous work or job enlargement could be reason of frustration of employer towards additional task. (Holtom & Mitchell, 2008) Individual differences, Job Stress
Employees are found as major contributor to organization competitive edge/advantage. (Dwomoh & Korankye, 2012) Boring job content has influence on increased turnover. Un realistic expectations comes through lack of knowledge that may candidates has about the job at the time they got a offer. (Deepa & Stella, 2012) Similarly job stress and organizational change related attitudes plays vital role in turnover. (Dwomoh & Korankye, 2012) Administrative problem is also a core issue usually for most of organizations to build an admin department is not only a problem for employer but also effect HR in documentation of this company issues .Particularly includes time spent over confronting and communicating turnover related issues. (Guma, 2011)
Banking industry is an important economy is considered as crucial and as such poor performance of industry can have very bad impact on the economy as a whole. lots of cost implications to the industry involved init including training cost, cost linked with exist interview cost of replacement of new employees and cost of gossip of turnover which include employees saying bad words or negative things about the company can not be ignored. (Dwomoh & Korankye, 2012)
Sometimes Unrealistic expectation is usually not realized soon and when it realized by new employee get disappointed or discouraged and decides to leave the job. (Deepa & Stella, 2012) Organizational culture, Unrealistic Expectations A small number of employees find the need to engage in legal system, leaving the organization immediately, with challenging of facing & even superior problem. Even though employee quit voluntary can cost the company time and money (Guma, 2011) Turnover has impact on direct cost of compnay (Morrell & Wikinson, 2001) Replacement ,Termination ,Recruitment & Selection ,Temporary Staff and Managemant staff (Morrell & Wikinson, 2001)
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In this study researcher explained about the main reasons for leaving any organization Promotion outside the organization Better Opportunity. (Loquercio, 2006) Lack of development or career growth Lack of Scale revising (Loquercio, 2006) and at times change of career (Loquercio, 2006) Diversification of occupation Indirect cost of company is also affected through turnover(low motivation, Job Unsecurity,Expense over learning, Service and product quality improvement) loss of capital in terms of budget. (Morrell & Wikinson, 2001)
Mostly multiple companies have informal network disrupt the communication channel and socialization patterns at times serious ` s to the good maintenance of team work and productive work environment of company. (Guma, 2011) Factors which are directly affecting employee turn over are given here Job dissatisfaction, Labour market variable, Level of commitment, equity of owner, psychological contract.This research based over the turnover cause by organizational change. (Morrell & Wikinson, 2001) Similarly organizational change results in job switching by employees. (Morrell & Wikinson, 2001) Organizational change/Advancement in technology
Mostly once an image has been built on the performance of organization in particular industry its impossible to change particularly in recruiting channels of industry .it also influence over productivity loss and workflow interruption. (Guma, 2011)
Employee turnover plays very critical role in firm performance. (Harris, Tang, & Tseng, 2003) On the other hand when economy is at boom people are more likely to switch job due to availability of better opportunity. (Harris, Tang, & Tseng, 2003) Job dissatisfaction, lack of organizational commitment and low job involvement increase turnover in company. (Harris, Tang, & Tseng, 2003)
Poor hiring practices plays vital role in high turnover in any company. (Morrell & Wikinson, 2001) Lack of objective data related to Job description has influence over turnover. (Morrell & Wikinson, 2001) Over reliance on recruiting manager or HR manager in Recruitment & selection process of company.(Morrell & Wikinson, 2001)Over reliance Turnover arises by two external factor labor shortage and employee bad attitude. (Khatri, Budhwar, & Fern, 1999) Demographical variable age gender ease of movement and job hopping uncontrollable factor and Job satisfaction and organizational commitment controllable factor also involved in raises of this issue. (Khatri, Budhwar, & Fern, 1999)
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When any worker quit job could result in critical issue in working on specific software incompletion of any task from any project. (Guma, 2011) ) High turnover causes financial and institutional memory loss to the company. (Jing, Ru, & Woon, 2012) Usually particular products have to suffer only because of job quit by technical and experienced employee.. Sometimes its really hard for employer to arrange replacement of these workers in short span of time. (Guma, 2011)
In this way Pay, training, team work, performance appraisal of employee can be taken as independent variable in contributing in high turnover in organization. (Jing, Ru, & Woon, 2012) On the other hand in turnover situation worker creates a huge productivity gap. This factor is not only include problem for specific job done by worker in switching job but also for rest of members and other on the same team within particular workflow. (Guma, 2011) Performance of organization
Service quality of company is truly affected by gradually increased turnover rate. Particularly facilitating excellent service to specified external and internal customers of organization. (Guma, 2011) People may leave due to better monetary rewards and career development opportunities. (Jing, Ru, & Woon, 2012) High turnover has very bad impact on the quality of customer service (Guma, 2011) Turnover could be reason of high cost spend over termination, advertisement, R&S Process and rehiring in organization. (Jing, Ru, & Woon, 2012) Turnover could be source of driver to company renewal. Although increased turnover is expensive, similarly low turnover in organization can be cost saving. (Benedict & Josiah, 2011) Turnover could bring loss in growth of business opportunities similarly gradually increased turnover may cause lack of technical and experienced employees in completion of project it also effect over existing workers as unprepared to take right advantage of latest business advantages. (Guma, 2011)
In organization labour turnover affects both employee and company (Benedict & Josiah, 2011). Sometimes Turnover can enable any company to eliminate poor performances, unmotivated workers and people who are hard to get along with the company for long term commitments and goal achievements. (Benedict & Josiah, 2011
On progress projects will surely delayed as no availabilty of key performer in the organizatiion. (Guma, 2011) Few reasons for job switching are directly linked with the workplace of organization. Lack of control over ones work results in immediately departure of employee. (Lochhead & Stephen, 2004)
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Competent ones with lower remuneration could replace company workers with higher remuneration vary from position to position. (Benedict & Josiah, 2011) Companies mostly can undergo particular form of restructuring, merger of specific positions, which can improve bottom line of organization. (Benedict & Josiah, 2011) Major factors which contribute in gradually increased turnover arises through de moralized. (Lochhead & Stephen, 2004) Labor turnover badly affects both workers & organization In new organization new employees have to learn latest job specific expertise and different career development prospects.similarly cost of hiring and new employees is also effected by this factor. (Benedict & Josiah, 2011) HR Practices Pay, Training and other incentives are negative relationship with turn over as its increase employees motivation level and retain them for long time.(Lazear 1986; Madrian, 1994; Gruber & Madrian, 1994). Cost, disrupt organization plan, ongoing projects cause Untold difficulty to organization but at times there are few benefits to it.(Benedict & Josiah, 2011 )
Most of the times these advantages are usually replacement of Separated employees with new ones who could bring Experiences, Knowledge, Practice and Skill to organization.. (Benedict & Josiah, 2011)
Sometimes it shows lack of consistency and focus of employee over its professionalism. (Lochhead & Stephen, 2004) Boring job assignments at times can create sense of feeling bored or unchallenged by repetitive tasks. Additional tasks and job enlargement may has adverse effect over employee contribution in company growth.(Lochhead & Stephen,2004)
Training easily communicates about job roles and decreases job stress. Organizations having proper Training programs have very low in voluntary turn over rates. (Bawa & Jantan, 2005)
Lack of job insecurity is very common factor in increasing turn over rate in industry. On the other hand more generous compensation pay structure offered by any other company can motivate employee to leave his existing organization. (Lochhead & Stephen, 2004) Most of the researcher found that Voluntary Turn over based on the reason for being dissatisfied from current job and other attractive opportunities are available to them also said that Compensation and job security are importanat factors in turn over. (Bawa & Jantan, 2005) More benefits and incentives based job offer may have influence on employee decision to quit. (Lochhead & Stephen, 2004)
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Selective staffing practices are directly related to total turnover in feedback and monitoring worker performance application of performance appraisal through which check in balance of employee performance & contribution to organizational growth can be observed (Bawa & Jantan, 2005)
According to researcher they have to learn about their job specification skills and numbers of career prospects.organizations certainly face the the loss of job specification of any profession, skills in production of product in company and large sum high will be use in process of hiring & training new employees. (Benedict & Josiah, 2011) Involuntary turn over depends on Recruitment & selection process and performance appraisal of organization. In this way staffing process of organization play vital role criteria for selection of employees and how much selected an organization can be in turn over process (Bawa & Jantan, 2005)
On the other hand new workers are mostly well educated with high motivation and ability to handle and resolve technical issues in more efficient and highn level of enthusiam in working environment.In every single company workforce is essential part in running of a business and existing in industry because without them the business would be definitely unsuccessful as result of labor high turnover in organization (Benedict & Josiah, 2011)
List of Variables for Research:

1. Alternative job opportunity 2. Lack of good interpersonal relationship 3. Lack of training & development 4. Monetary Benefits 5. Working Environment 6. Bored job contents 7. Demographics 8. Personal traits 9. Lack of job matching 10. Lack of recognition 11. Un realistic expectation 12. Performance of organization 13. Job Insecurity 14. Lack of empowerment/delegation 15. Work life balance 16. Organizational Change/ advancement in technology 17. Over reliance
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Research Model:
Alternative Job Opportunity
Lack of good interpersonal skills Demographics
Lack of Training & Development Personal Traits
Monetary Benefits
Turnover
Lack of job Matching
Working Environment
Lack of Recognition
Bored Job Contents Job Insecurity Job Stress
Un realistic expectations
Organizational Change
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Population:
In this project I would be focusing on all HR professionals working in banking industry.
Size of Population:
I would approach four major Commercial and Government Banks 1. 2. 3. 4. State Bank National Bank Meezan Bank Limited United Bank Limited
Sampling Technique:
Factor analysis model Principle components analysis .Data collection purpose I will choose Non probability Convenience Sampling
Justification:
This research is covering almost all dimensions targeting the major reasons of high turnover for this purpose brief study is required from multiple banks. Structured interviews with HR Managers and Directors and Voice president is the basic source for collecting data and analysis the impact of each factor. In this research total numbers of factors or variables are 17 and I will go for factor analysis model Principle Components Analysis: Sampling technique where total numbers of variance in the data is considered. Similarly diagonal of the correlation matrix consists of unities and full variance is brought into factor matrix. PCA is usually recommended when main focus is to determine the minimum numbers of factors that results maximum variance in the total data for use in subsequent multivariate analysis,
Convenience sampling is least time consuming and inexpensive sampling technique where we can have large number of data taken from respondents for conducting this research. These techniques will attempts to take a sample of convenient elements selection of respondent would be depend upon my approach to people working in HR field in particularly in banks.
Sample Size:
Total numbers of respondents = 250
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Justification:
Reason for such large sample size is only to conduct more brief and detailed research over the selected variables taken from large number of research studies its really essential to check their role and influence over the dependant variable Turnover
Factor Analysis Model:

Problem Topic: Factors effecting employee turnover in banking industry
Correlation Matrix Total Question =17 V1 to V17 Respondants=100 Factors=Independent Total Numbers of Factors =17
Rotate the Factors
Interpret Factors
Calculating Factor Score
Determine the Model Fit
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Complete Instrument Questionnaire

Topic: Factors effecting turnover ratio of employees in Banking Industry
Rating Key -Highly Agreed (5) Agreed (4) Neutral (3) Disagree (2) Highly Disagree (1)
Please circle your responses to the following questions:
Q.01. Availability of better job opportunities is mostly responsible for high turnover in any organization? 5 4 3 2 1
Q.02. Employee interpersonal relationships with boss directly linked with turnover decision? Organization? 5 4 3 2 1
Q.03. Lack of job instruction training has impact on turnover intention in company? 5 4 3 2 1
Q.04. Unavailability of good/ learning environment is responsible for high turnover? 5 4 3 2 1
Q.05. Lack of interesting tasks given by boss has direct influence over turnover? 5 4 3 2 1
Q.06 Bored job contents practiced by since many years which have impact on turnover ratio in companies? 5 4 3 2 1
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Q.07. Personal traits /individual differences mostly vary from person to person have influence in turnover decision? 5 4 3 2 1
Q.08. Lack of proper job matching of employees is basic reason in job switching? 5 4 3 2 1
Q.09.Employees is concerned about their career growth. Similarly limitations in career development increased turnover in company? 5 4 3 2 1
Q.10. Lack of recognition/proper reward system is directly linked high turnover? 5 4 3 2 1
Q.11. Employee resistance towards organizational change results in increased turnover in organization? 5 4 3 2 1
Q.12. Organizational culture is one of major reason for job switching of employees in any particular company? 5 4 3 2 1
Q.13. Unrealistic expectations from company management results in increased turnover intention of employees? 5 4 3 2 1
Q.14. Organizational growth and stability has direct impact on high turnover? 5 4 3 2 1
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Q.15. Job insecurity of employees motivates them to leave from current work place? 5 4 3 2 1
Q.16. High turnover is usually common in those companies where lack of empowerment & delegation is found between management and employees? 5 4 3 2 1
Q.17 over reliance on employees results in high turnover in companies? 5 4 3 2 1
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Note for Rationale of each Component:

Each question based on single variable which I have extracted from literature review. Scale rating is used to answer these questions and for each question criteria is defined to all questions.
Proof of Validity:
DATASET NAME DataSet0 WINDOW=FRONT.
RELIABILITY
/VARIABLES=Q.01 Q.02 Q.04 Q.06 Q.07 Q.08 Q.10 Q.11 Q.12 Q.13 Q.14 Q.15 Q.17 Q.18 Q.19 Q. 20 Q.21 /SCALE('ALL VARIABLES') ALL /MODEL=ALPHA.
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Reliability
Notes Output Created Comments Input Data C:\Documents and Settings\lab1\My Documents\Downloads\Questionn aire Input.sav DataSet1 <none> <none> <none> 16 C:\Documents and Settings\lab1\My Documents\Downloads\Questionn aire Input.sav User-defined missing values are treated as missing. Statistics are based on all cases with valid data for all variables in the procedure. 12-Nov-2012 19:38:46
Active Dataset Filter Weight Split File N of Rows in Working Data File Matrix Input
Missing Value Handling
Definition of Missing
Cases Used
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RELIABILITY /VARIABLES=Q.01 Q.02 Q.04 Q.06 Q.07 Q.08 Q.10 Q.11 Q.12 Q.13 Q.14 Q.15 Q.17 Q.18 Q.19 Q.20 Q.21 /SCALE('ALL VARIABLES') ALL /MODEL=ALPHA.
Syntax
Resources
Processor Time Elapsed Time
00:00:00.000 00:00:00.000
[DataSet1] C:\Documents and Settings\lab1\My Documents\Downloads\Questionnaire Input.sav
Scale: ALL VARIABLES

Case Processing Summary N Cases Valid Excludeda Total 5 11 16 % 31.2 68.8 100.0
a. Listwise deletion based on all variables in the procedure.
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Reliability Statistics
Cronbach's Alpha .822 N of Items 17
Process of Pilot Test:

First of all I convert this questionnaire into online questionnaire on Gmail account. After sign in Gmail go to more option then choose even more as window open select docs create form on your choice. After completion of questionnaire I sent this to selected people. Pilot test have to apply on 5 % of sample size as my sample size is 250 so I apply this test over the answers of these 13 respondents.
Now I got the result here have to apply pilot test by the help of SPSS. In this stage I have to make file on SPSS by clearly adding label and key rating scale for all labels (Variables) after completion the format of SPSS Data file simply add the data for 5 % of sample size. For analysis purpose go to the Analyze option Chose scale in this option select reliability analysis and insert all the labels (variables). Within few seconds I got the result.
Cronbach s Value = 0.70
Questionnaire value on 5 % of sample size= 0.822
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According to the analysis the alpha value should be equal or greater than 0.70 As more Alpha value we get it show that our questionnaire is quite reliable and valid for conducting this research.
Justification for Evaluation technique:

This technique is also called as data reduction technique. My aim was to aggregate the information is given in large number data is conclude in a very comprehensive (small) value. Its just like multiple regression analysis technique in which each variable of research is represented as a linear combination taking all factors together.
Reason for using Factor Analysis

Basically factor analysis is used to analyze groups of correlated variables expressing one or more common domains. On the other hand in factor analysis I choose Principal components analysis which is used to find optimal ways of combining variables into a small number of subsets answering research objectives. My total numbers of variables are 17 and on these variables I want to analyze correlation between all of them. Similarly my aim of research study is to identifying more influencing factor over dependent variable Principle component approach is mostly useful in those scenario where the dimensionality of given data and its structural composition are not clearly well defined. Here I will preferably using Exploratory factor analysis in which there are particularly no guiding hypotheses research will be based on when the question is particularly what are the underlying factors. In this technique factors mainly in factor analysis are conceptualized as "real world" entities. Similarly principal components analysis in which each component is simply geometrical abstractions that may not map easily onto real world phenomena. Another major reason for using Principle component analysis is all of the observed variance each factor is analyzed on the other hand in simple factor analysis it is only the specific shared variances that is analyzed.
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Banking Industry for Research-Meezan Bank Limited:

Meezan Bank Limited is a publicly listed bank and first incorporated on January 27, 1997. Operations were started as an investment bank in August, 1997. Similarly In January, 2002 in an historic initiative and achievement for Meezan Bank was that they granted the Nations first fullfledged commercial banking license in Pakistan dedicated to Islamic Banking, by the State Bank of Pakistan. Meezan Bank is today at a noteworthy point all along the evolution of Islamic Banking in Pakistan. On the other hand banking sector is viewing a significant paradigm shift away from previous established means of business; its catering to an increasingly astute and challenging financial customer according to new trend who is also becoming keenly well acknowledged and aware of Islamic Banking. Meezan Bank is accountable to take the critical responsibility of leading the way forward in developing a stable and vibrant Islamic Banking system which replete with dynamic and cutting-edge products and services of other competitors surviving in banking industry. Vision of Meezan bank is to launch Islamic banking as banking of preferred choice to facilitate the complete implementation of an equitable economic system which is responsible for strong foundation to building a fair society for mankind Similarly Mission statement is based on vast and long term relationship building statement which is To be a leading Islamic bank, which offering a one-stop store for new value additional products and services to our all customers particularly within the bounds of Shariah, aslo optimizing the stakeholders worth through a company culture focusing on knowledge, equality, owner for individual enterprise and performance all over the country
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Analysis of Data:
Sample Size:250 Dependent Variable= Turnover Independent Variables: Job Opportunity , Interpersonal skills , Interesting tasks , Bored Job Contents ,Proper Job Match, Career growth , Lack of recognition, Employee resistance, Organizational culture, Unrealistic expectations , Lack of Empowerment , Over Reliance
Basically I have performed all relevant tests for principle component analysis. I perform all tests on total 12 variables which are more linked with dependent variable and excluded 5 variables which are least related to dependent variable.
Main tests results and interpretation of sample size will be focusing these areas
1. 2. 3. 4. 5. 6. 7. 8.
Descriptive studies (Mean, Standard deviation) Correlation matrix KMO and Bartlett's Test Chi- square test Component Matrix Total Variance Communalities Rotated Component Matrix
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Factor Analysis:
Notes Output Created Comments Input Data C:\Documents and Settings\lab1.KIETC.000\Desktop\F YP D4.Shirazi.sav DataSet1 <none> <none> <none> 250 MISSING=EXCLUDE: User-defined missing values are treated as missing. LISTWISE: Statistics are based on cases with no missing values for any variable used. 02-Dec-2012 14:15:05
Active Dataset Filter Weight Split File N of Rows in Working Data File Missing Value Handling Definition of Missing
Cases Used
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FACTOR /VARIABLES Q.01 Q.02 Q.05 Q.06 Q.08 Q.09 Q.10 Q.11 Q.12 Q.13 Q.16 Q.17 /MISSING LISTWISE /ANALYSIS Q.01 Q.02 Q.05 Q.06 Q.08 Q.09 Q.10 Q.11 Q.12 Q.13 Q.16 Q.17 /PRINT UNIVARIATE CORRELATION SIG DET KMO EXTRACTION ROTATION FSCORE /FORMAT SORT /PLOT EIGEN ROTATION /CRITERIA MINEIGEN(1) ITERATE(250) /EXTRACTION PC /CRITERIA ITERATE(25) /ROTATION VARIMAX /SAVE REG(ALL) /METHOD=CORRELATION.
Syntax
Resources
Processor Time Elapsed Time Maximum Memory Required
00:00:01.656 00:00:01.907 19992 (19.523K) bytes Component score 1
Variables Created
FAC1_1
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FAC2_1 FAC3_1 FAC4_1 FAC5_1 Component score 2 Component score 3 Component score 4 Component score 5
[DataSet1] C:\Documents and Settings\lab1.KIETC.000\Desktop\FYP D4.Shirazi.sav
Descriptive Statistics
Mean Job Opportunity Interpersonal skills Interesting tasks Bored Job Contents Proper Job Match Career growth Lack of recognition Employee resistance Organizational culture Unrealistic expectations Lack of Empowerment 3.30 3.27 3.54 3.21 2.93 3.20 3.43 3.32 2.96 3.33 3.50 Std. Deviation Analysis N 1.361 1.433 1.429 1.480 1.443 1.385 1.361 1.429 1.394 1.304 1.330 250 250 250 250 250 250 250 250 250 250 250
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Descriptive Statistics
Mean Job Opportunity Interpersonal skills Interesting tasks Bored Job Contents Proper Job Match Career growth Lack of recognition Employee resistance Organizational culture Unrealistic expectations Lack of Empowerment Over Reliance 3.30 3.27 3.54 3.21 2.93 3.20 3.43 3.32 2.96 3.33 3.50 3.10 Std. Deviation Analysis N 1.361 1.433 1.429 1.480 1.443 1.385 1.361 1.429 1.394 1.304 1.330 1.400 250 250 250 250 250 250 250 250 250 250 250 250
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Interpretation of Result:
As per the definition of mean its a set of or average of total data of respondents similarly it is calculated by adding up each and every single number in the set, and dividing this sum by the total number of entries available in data. According to the result derived from statistics descriptive On the basis of 250 respondents data it show that job opportunity interpersonal skills, Interesting task, Bored job contents, Career growth lack of recognition and employee resistance is comparatively high over other remaining factors and they have much high influence over other out of 250 respondents most of people agreed on the high influence of these variables over dependent variable turnover
Similarly standard deviation represents at which extent diffusion" exists from the average mean or expected value of the research data. According to this data result Interpersonal skills, Interesting task, Bored job contents, Employee resistance ,proper Job Match , Over Reliance have more variation and data points of these factors are extend over a large range of values from data.
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Correlation Matrixa
Job Interpersonal Interesting Bored Proper Career Lack of Employee Organiz Unrea Opportunity skills tasks Job Job growth recognition resistance ational expec Contents Match culture Correlation Job Opportunity 1.000 -.003 .125 -.073 .134 .218 -.102 -.276 .055 .049
Interpersonal -.003 skills Interesting tasks Bored Job Contents Proper Job Match .125
1.000
-.271
.019
.138
-.051
.045
.034
-.061
.032
-.271
1.000
-.034
.030
.026
-.165
-.074
.114
.016
-.073
.019
-.034
1.000
-.081 -.053
-.067
.069
-.109
.183
.134
.138
.030
-.081
1.000 .029
-.160
-.185
.184
.030
Career growth .218 Lack of recognition Employee resistance -.102
-.051 .045
.026 -.165
-.053 -.067
.029
1.000 .110 1.000
-.227 .198
.010 -.044
.033 -.074
-.160 .110
-.276
.034
-.074
.069
-.185 -.227
.198
1.000
-.110
.168
Organizational .055 culture Unrealistic expectations .049
-.061
.114
-.109
.184
.010
-.044
-.110
1.000
-.037
.032
.016
.183
.030
.033
-.074
.168
-.037
1.000
Lack of -.081 Empowerment
.118
.016
.200
-.006 -.068
.092
.052
-.022
.064
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-.041 .482 .024 .025 .058 .124 .019 .017 -.055 .000 -.058 .055 -.050 .000 .278 .193 -.011 .219
Over Reliance .018 Sig. (1tailed) Job Opportunity Interpersonal .482 skills Interesting tasks Bored Job Contents Proper Job Match .025
.000
.382
.015
.212
.237
.297
.168
.309
.000
.297
.316
.342
.004
.123
.036
.399
.124
.382
.297
.100
.201
.147
.140
.043
.002
.017
.015
.316
.100
.323
.006
.002
.002
.319
Career growth .000 Lack of recognition Employee resistance .055
.212 .237
.342 .004
.201 .147
.323 .006 .041
.041
.000 .001
.435 .245
.303 .121
.000
.297
.123
.140
.002
.000
.001
.041
.004
Organizational .193 culture Unrealistic expectations .219
.168
.036
.043
.002
.435
.245
.041
.281
.309
.399
.002
.319
.303
.121
.004
.281
Lack of .100 Empowerment Over Reliance .386 a. Determinant = .446
.032
.401
.001
.460
.141
.074
.205
.366
.155
.260
.351
.180
.380
.192
.182
.217
.000
.432
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According to basic definition the Matrix is based on the correlation coefficient, of given data range of co relation matrix is between 1.0 and -1.0 Similarly for the positive linear relationship among two variables the correlation will be 1.0. If there is a perfect negative linear relationship between the two holdings, the correlation coefficient is -1.0. A correlation coefficient of zero identifies that there is no linear relationship between the multiple funds. In this result we can see that combination of positive and negative correlation between all variables of 250 respondents.
KMO and Bartlett's Test

Kaiser-Meyer-Olkin Measure of Sampling Adequacy. Bartlett's Test of Sphericity Approx. Chi-Square Df Sig. .533 196.928 66 .000
KMO test is most important test perform to check significance of variables that we are considering in 250 respondents this test is performed when correlation between pairs of variables simply can not explained by other variables most desirable value for significance of KMO test is always greater then 0.5 and our value is 0.533 which shows high significance level of this test and data. On the other hand in Bartlett's Test of Sphericity show that out of 250 respondents 197 chi square value representing the data validity and actual result.
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Component Matrixa
Component 1 Employee resistance Job Opportunity Over Reliance Bored Job Contents Lack of Empowerment Interpersonal skills Interesting tasks Proper Job Match Unrealistic expectations Organizational culture Lack of recognition Career growth -.661 .569 .178 -.304 -.270 -.220 .390 .433 -.148 .432 -.383 .352 2 .093 -.109 .571 .471 .459 -.017 .238 .175 .334 .364 -.368 -.377 3 -.210 .214 -.048 .100 .226 .772 -.519 .483 .150 -.052 .014 .146 4 -.050 .321 -.385 .443 .025 -.148 .248 -.107 .555 -.488 -.266 .290 5 -.091 .172 .329 .157 .405 -.126 -.010 -.289 .010 .154 .582 .568
Extraction Method: Principal Component Analysis. a. 5 components extracted.
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According to result of all independent variables are highly negative which shows they are not inter related to each other and imperfect for each other. Each Variable is different from other variable and strong variability found between them
Total Variance Explained

Extraction Sums of Squared Loadings Compo nent 1 2 3 4 5 Total 1.825 1.389 1.299 1.248 1.120 % of Variance 15.206 11.572 10.824 10.398 9.330 Cumulative % 15.206 26.778 37.601 48.000 57.329 Rotation Sums of Squared Loadings Total 1.532 1.358 1.340 1.337 1.313 % of Variance 12.769 11.313 11.167 11.138 10.942 Cumulative % 12.769 24.082 35.249 46.387 57.329
Extraction Method: Principal Component Analysis.
According to this data all factors having perfectly positive percentage of variance which explains that all factors having high variability among them.
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Communalities
Extraction Job Opportunity Interpersonal skills Interesting tasks Bored Job Contents Proper Job Match Career growth Lack of recognition Employee resistance Organizational culture Unrealistic expectations Lack of Empowerment Over Reliance Extraction Method: Principal Component Analysis. .515 .682 .539 .545 .547 .694 .693 .501 .584 .464 .500 .616
For the analysis of communalities out of 12 variables only 4 factors have perfectly positive values which means that Interpersonal skills, Career Growth, Lack of recognition and Over
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reliance are basically main variables which have more influence over dependent variable and they are more affecting Turnover as compare other considerable set of variables.
Rotated Component Matrixa

Component 1 Career growth Job Opportunity Employee resistance Bored Job Contents Unrealistic expectations Lack of Empowerment Over Reliance Organizational culture Interpersonal skills Interesting tasks Lack of recognition Proper Job Match .749 .692 -.623 -.091 .051 -.060 -.039 .086 -.001 .122 -.009 .258 2 .018 .039 .178 .732 .640 .539 .119 -.204 .097 .062 -.109 -.082 3 -.089 -.021 -.150 -.002 -.164 .348 .772 .714 -.031 .114 .030 .202 4 -.045 -.062 .007 -.025 -.032 .191 -.067 -.076 .812 -.680 .209 .343 5 .351 -.172 .243 .002 -.156 .219 .023 -.136 -.114 -.213 .798 -.561
Extraction Method: Principal Component Analysis. Rotation Method: Varimax with Kaiser Normalization. a. Rotation converged in 6 iterations.
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This result highlights that high value of those factors which are more dominating over dependent variable.
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Interpretation:
This graph shows the relative importance of each factor Similarly dotted sharp drops in all variables indicates that these all variables are ignorable and no relationship is found between them.
Summarized Response:
List
of
Research
Questionnaire
As per result of applied test each variable is having strong variability job opportunity interpersonal skills, Interesting task, Bored job contents, Career growth lack of recognition and employee resistance is comparatively high over other remaining factors and they have much high influence over other out of 250 respondents most of people agreed on the high influence of these variables over dependent variable turnover Standard deviation represents at which extent diffusion" exists from the average mean or expected value of the research data. According to this data result Interpersonal skills, Interesting task, Bored job contents, Employee resistance ,proper Job Match , Over Reliance have more variation and data points of these factors are extend over a large range of values from data Each factor have influence over dependent variable some have higher and and rest of have minor influence on turnover. Out of 12 variables only 4 factors have perfectly positive values which means that Interpersonal skills, Career Growth, Lack of recognition and Over reliance are basically main variables which more influence over dependent variable and they are more affecting Turnover as compare other considerable set of variables. Research model is significant as per KMO test value on the basis of 250 respondents. Online questionnaire were filled by 250 corporate people. Research question was focusing on the empirical study over the derived factors which are directly influencing turnover ratio and which factor is high impact on dependent variable?
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Key Results:
Research main results representing the answers of research questions. 1. Pilot test on questionnaire which used to identifies the reliability of research question. Significant value should be 0.7 or greater than 0.7 similarly our value is 0.822 which shows that research instrument is highly reliable and valid and significant for research objective. 2. All variables are have high variability and negative correlation among them 3. KMO Test significant value should equal to 0.5 and our value is 0.533 which shows high significance of this test and proved that model is fit for research purpose. 4. Bartlett's Test of Sphericity value show that out of 250 respondents 197 chi square value representing the data validity and actual result. 5. Communalities analysis out of 12 variables only 4 factors have perfectly positive values which means that Interpersonal skills, Career Growth, Lack of recognition and Over reliance are basically main variables which more influence over dependent variable and they are more affecting Turnover as compare other considerable set of variables. 6. Total variance having perfectly positive percentage of variance which explains that all factors having high variability is consistently changes which explain sum of square loaded in sample size.
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Conclusions:
Research model is focusing 12 independent variables which are extracted from literature review and having influence on dependent variable 1. Job Opportunity 2. Interpersonal skills 3. Interesting tasks 4. Bored Job Contents 5. Proper Job Match 6. Career growth 7. Lack of recognition 8. Employee resistance 9. Organizational culture 10. Unrealistic expectations 11. Lack of Empowerment 12. Over Reliance Research objective and question is clearly answered by the result obtained from the test we applied on it. Out of 12 variables only 4 factors have perfectly positive values which means that 1. Interpersonal skills, 2. Career Growth, 3. Lack of recognition 4. Over reliance Elaborate that these are main factors which have more influence over dependent variable and they are more affecting Turnover as compare other considerable set of variables. It shows that organization have to consider these factors to reduce their turnover ratio and this issue is easy to eliminate if we consider these factors which have strong influence over turnover decisions of employees. This research result clearly shows that turnover is controllable factor by management because all those factors which are more influencing on turnover mostly depend upon the management decisions.
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Recommendations:
Research question has been answered by results arrived from the test performed on it. Research question has been answered by results arrived from the test performed on it. In Banking industry there should be more interactive sessions should be conducted department wise focusing on assigning tasks and goals on quarterly basis. Communication gap between employees and their bosses should be reduced as it will increase their level of motivation Management should conduct a coaching sessions to improve and enhance employees capabilities. Management should play a vital role in employee individual career growth and development by providing more learning opportunity and assigning them by according to their interest and skills.. Management should take serious steps for appreciation of employees on their outstanding performance for achieving those assigned task by their managers. Intrinsic rewards usually worked as back bone to retain well experienced and well qualified employees. Management has to improve their Performance Management system to recognize best performer of their company. Extrinsic reward system helps to attract new employees and increases level of motivation of new employees as they are fresh graduates and they are more concerned money and other incentives. Management should not be having over expectations from employees for achievement of task assigned to them as every individual capability varies from other individual.
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References
(A.C. Benedict, april 15, 2012) (Muhammad Aminu Bawa, July 2005) (GUMA, JANUARY 2011) (Dr. Gabriel Dwomoh, 2012) (BROOKS C. HOLTOM) (lochead, april 2004) (wilson) (Loquercio, January 2006) (AHM Shamsuzzoha) (DEEPA & STELLA, July 2012,) (NARESH KHATRI) (Mark N. Harris, September 2003) (CHEN BIG JING, MAY 2012)
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Factors Effecting Turnover Ratio in Banking Industry

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Factors Effecting Turnover ratio in Banking Industry

FINAL YEAR PROJECT

Topic: Factors effecting Turnover ratio in Banking Industry

SUBMITTED BY S.TAZMEEN ZAHRA SHIRAZI Registration no.: BBA-01-08-4115

SUPERVISOR AIJAZ ALI

Prepared By: S.Tazmeen Zahra Shirazi

Factors Effecting Turnover ratio in Banking Industry

Prepared By: S.Tazmeen Zahra Shirazi

Factors Effecting Turnover ratio in Banking Industry

Prepared By: S.Tazmeen Zahra Shirazi

Factors Effecting Turnover ratio in Banking Industry

Prepared By: S.Tazmeen Zahra Shirazi

Factors Effecting Turnover ratio in Banking Industry

Prepared By: S.Tazmeen Zahra Shirazi

Factors Effecting Turnover ratio in Banking Industry

Prepared By: S.Tazmeen Zahra Shirazi

Factors Effecting Turnover ratio in Banking Industry

Prepared By: S.Tazmeen Zahra Shirazi

Factors Effecting Turnover ratio in Banking Industry

Prepared By: S.Tazmeen Zahra Shirazi

Factors Effecting Turnover ratio in Banking Industry

Expertise specifically knowledge industries is critical for owner (Guma, 2011)

Prepared By: S.Tazmeen Zahra Shirazi

Factors Effecting Turnover ratio in Banking Industry

Prepared By: S.Tazmeen Zahra Shirazi

Factors Effecting Turnover ratio in Banking Industry

Prepared By: S.Tazmeen Zahra Shirazi

Factors Effecting Turnover ratio in Banking Industry

Prepared By: S.Tazmeen Zahra Shirazi

Factors Effecting Turnover ratio in Banking Industry

Prepared By: S.Tazmeen Zahra Shirazi

Factors Effecting Turnover ratio in Banking Industry

List of Variables for Research:

Prepared By: S.Tazmeen Zahra Shirazi

Factors Effecting Turnover ratio in Banking Industry

Alternative Job Opportunity

Lack of good interpersonal skills Demographics

Lack of Training & Development Personal Traits

Lack of job Matching

Bored Job Contents Job Insecurity Job Stress

Prepared By: S.Tazmeen Zahra Shirazi

Factors Effecting Turnover ratio in Banking Industry

Prepared By: S.Tazmeen Zahra Shirazi

Factors Effecting Turnover ratio in Banking Industry

Factor Analysis Model:

Rotate the Factors

Calculating Factor Score

Determine the Model Fit

Prepared By: S.Tazmeen Zahra Shirazi

Factors Effecting Turnover ratio in Banking Industry

Complete Instrument Questionnaire

Please circle your responses to the following questions:

Q.04. Unavailability of good/ learning environment is responsible for high turnover? 5 4 3 2 1

Prepared By: S.Tazmeen Zahra Shirazi

Factors Effecting Turnover ratio in Banking Industry

Q.10. Lack of recognition/proper reward system is directly linked high turnover? 5 4 3 2 1

Prepared By: S.Tazmeen Zahra Shirazi

Factors Effecting Turnover ratio in Banking Industry

Q.17 over reliance on employees results in high turnover in companies? 5 4 3 2 1

Prepared By: S.Tazmeen Zahra Shirazi

Factors Effecting Turnover ratio in Banking Industry

Note for Rationale of each Component: