Understanding high attrition rates within a retail bank finance Essay

Understanding high attrition rates within a retail bank finance department - Essay Example This is project report for tackling a serious problem which is currently facing Bank 4 U. That is the problem of abnormally high attrition. This project is not intended to be an analysis of the problem. An analysis by its very nature is intended to be a review of the situation.This analysis is reviewed later and appropriate decisions are taken on its recommendations. This problem is sufficiently serious that only an interventionary approach to solve the problem will solve it. The Author proposes an Action research project in this proposal.The project team members will be managers and other personnel who will be able to act on the solutions as they come up in the research team. The members of this team will also not be disinterested members of this project, but whom this problem of attrition personally and professionally affects.The theory and practice of action research is sufficiently covered in the project plan to give an idea of the approach which will be taken to solve this probl em and the rationale behind that approach. The problem itself is explored sufficiently to see how it could be properly solved using this method.This Project was initiated by the top management of Bank 4 U. The author of this report was entrusted with implementing it. Action research methodology will be used. The theory will be accumulated from various scholarly sources. The problem, which was attrition, will be defined in great detail. It is apparent that this is a problem of very high magnitude with no apparent solution and that there is a requirement of an immediate intervention. A team of highly affected members of management will be put together. Using the various methodologies of Action Research, solutions will be constantly be discussed by the group and based on this discussion , various solutions will be continually implemented. The data gathered from implementations will be reviewed to look at possible modifications on a constant basis. The Author of this project , is also t he originator of this project , would not lead this project , but be more of a facilitator . The members of this project will be more of a round table with everybody's opinions receiving the same value. This would be important for a successful intervention and prevent this action research project be taken over by one or a few people and defeat the purpose the panel. The project panel will be in place for the duration of the intervention Understanding High Attrition within a Finance Organization Developing a Collaborative Roadmap to Improve Employee Retention Conceptualization and Framework Context Bank-4-U is one of the nation's leading financial services companies serving consumers and small to mid-sized businesses through various subsidiaries in the Bank-4-U family of companies. The organization has grown extensively through a series of acquisitions and as a result needs to address challenges in the areas of cultural and technical integration.