STUDY OF FACTORS EFFECTING ON EMPLOYEE TURNOVER AT BACK OFFICE OPERATIONS OF BANKING INDUSTRY IN SRILANKA [WITH SPECIAL REFERENCE TO BANKING CO-OPARATION]

Abstract

In the banking sector, employee turnover, especially in back-office activities, presents serious obstacles to productivity and organizational effectiveness. The purpose of this study is to investigate the many aspects that led to employee turnover in the context of ABC Banking Corporation, Sri Lanka. Through examining these variables, the research aims to offer significant perspectives and suggestions to reduce attrition rates and improve staff retention tactics. Using a mixed-method approach, the survey combines quantitative analysis from structured questions with qualitative information gleaned from employee and management interviews. The theoretical frameworks and prior research findings on employee turnover, organizational behavior, and HRM strategies are best understood by a thorough assessment of the literature. Investigation-focused key elements include, but are not restricted to, work-life balance, leadership management, benefits and remuneration, employee attrition, and career advancement chances. The purpose of the study is to determine how important each of these variables is in relation to back office staff at ABC Banking Corporation's intention and actual turnover rates. The survey's results should clarify the particular difficulties that the Sri Lankan banking sector faces, especially with regard to back office operations. The research also aims to provide evidence-based suggestions that are customized to the particular requirements of ABC Banking Corporation. This will help the company create focused strategies that lower employee attrition, raise employee satisfaction, and create a work environment that promotes long-term employee retention and profitable growth. The loss of qualified workers is a major problem in the ever-changing banking sector, especially when it comes to back office activities. In-depth analysis of the complex web of variables influencing employee turnover is provided in this study, which places the phenomena in the framework of ABC Banking Corporation in Sri Lanka. This study employs a multidisciplinary approach to clarify the complications surrounding turnover intents and actions. It is based on a thorough evaluation of current literature that includes theories of managerial behavior, human resource management, and employee turnover. This study aims to provide a clear picture of the variables at work by combining quantitative analysis from structured questionnaires with qualitative information from comprehensive conversations with staff members and management. This study clarifies the many nuances unique to back office tasks while shedding light on the complex web of difficulties that the Sri Lankan banking sector faces. Moreover, the results show potential beyond simple observation, providing practical insights and recommendations based on data that are specifically catered to ABC Banking Corporation's particular organizational setting. Through the utilization of these insights, ABC Banking Corporation is in a position to develop customized initiatives that are intended to counteract staff attrition while simultaneously cultivating a retention culture and an atmosphere that supports long-term worker happiness and the capacity for organizational resilience.8 | P a g e By doing this, the study hopes to make a significant contribution to the larger conversation on employee attrition in the banking industry and provide a guide for negotiating the challenging terrain of Talent acquisition and management in the Sri Lankan setting.