Effect of Employee Turnover on Organizational Performance: A Case Study of Barclays Bank PLC (Australian Branch)
Added on 2023-06-14
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SOUTHERN CROSS UNIVERSITY
ASSIGNMENT COVER SHEET
Student Name: Mohit Suneja
Student ID No.: 22414081
Unit Name: Industry Research Project
Unit Code: MNG93003
Tutor’s name: Dr Chrys Gunasekara
Assignment No.: 3
Assignment Title: Final Report
Due date: 04/02/2018
Date submitted: 04/02/2018
Declaration:
I have read and understand the Rules Relating to Awards (Rule 3 Section 18 –
Academic Misconduct Including Plagiarism) as contained in the SCU Policy
Library. I understand the penalties that apply for plagiarism and agree to be bound
by these rules. The work I am submitting electronically is entirely my own work.
Signed: Mohit Suneja
Date: 04/02/2018
ASSIGNMENT COVER SHEET
Student Name: Mohit Suneja
Student ID No.: 22414081
Unit Name: Industry Research Project
Unit Code: MNG93003
Tutor’s name: Dr Chrys Gunasekara
Assignment No.: 3
Assignment Title: Final Report
Due date: 04/02/2018
Date submitted: 04/02/2018
Declaration:
I have read and understand the Rules Relating to Awards (Rule 3 Section 18 –
Academic Misconduct Including Plagiarism) as contained in the SCU Policy
Library. I understand the penalties that apply for plagiarism and agree to be bound
by these rules. The work I am submitting electronically is entirely my own work.
Signed: Mohit Suneja
Date: 04/02/2018
1
Barclays Bank PLC (Australian Branch)
performance from impact of employee
turnover
11,500
Barclays Bank PLC (Australian Branch)
performance from impact of employee
turnover
11,500
2
Executive summary:
Purpose: This report highlights the effect of employee turnover on the organizational
performance with particular focus on Barclays bank PLC (Australian branch). The key objectives
of this research are to determine the actual causes of employee turnover with this bank as well as
recommending tactics which can be utilized for the purpose decreasing the rate of worker
turnover in Barclays bank PLC (Australian branch).
Background: After analyzing the performance of Barclays bank PLC (Australian branch) for
past couple of years, it has been determined the company has encountering the issue of employee
turnover which is severely affecting company performance. The company is unable to identify
the causes behind this issue.
Research approach: For this research, data was gathered with the help of mixed approach (both
questionnaires and interviews). The research studied factors such as employee turnover rate,
bank’s profitability, bank’s revenue earning, customer satisfaction rate amongst other factors.
These factors were interrelated and studied by taking inputs from bank employees. The questions
were open-ended in the questionnaire. All the interviews for this study were predetermined.
Approximately 100 interviews were conducted for this study. Moreover, the design of this
research is based on quantitative approaches and qualitative approaches. As the sample size was
large in number a mixed method of collecting data and analysing the same was undertaken. The
scholar will aim at combining two types of methods for the purpose of collecting requisite data
and subsequent analysis regarding the same. The target population incorporates the branches of
Barclays bank PLC within Sydney. The sample size of the research is 100 and simple random
sampling technique is used.
Literature Review: In order to conduct any study it becomes pertinent to review valuable
literatures. For the purpose of this study, the scholar has aimed at reviewing valuable literatures
as journals, online sources, books and other relevant materials for connecting them to the
progress related to the study. The scholar has developed a concrete theoretical background for
the understanding key concepts related to employee performance, turnover, job satisfaction,
remuneration, job dissatisfaction, training, appraisal and organization performance. These
Executive summary:
Purpose: This report highlights the effect of employee turnover on the organizational
performance with particular focus on Barclays bank PLC (Australian branch). The key objectives
of this research are to determine the actual causes of employee turnover with this bank as well as
recommending tactics which can be utilized for the purpose decreasing the rate of worker
turnover in Barclays bank PLC (Australian branch).
Background: After analyzing the performance of Barclays bank PLC (Australian branch) for
past couple of years, it has been determined the company has encountering the issue of employee
turnover which is severely affecting company performance. The company is unable to identify
the causes behind this issue.
Research approach: For this research, data was gathered with the help of mixed approach (both
questionnaires and interviews). The research studied factors such as employee turnover rate,
bank’s profitability, bank’s revenue earning, customer satisfaction rate amongst other factors.
These factors were interrelated and studied by taking inputs from bank employees. The questions
were open-ended in the questionnaire. All the interviews for this study were predetermined.
Approximately 100 interviews were conducted for this study. Moreover, the design of this
research is based on quantitative approaches and qualitative approaches. As the sample size was
large in number a mixed method of collecting data and analysing the same was undertaken. The
scholar will aim at combining two types of methods for the purpose of collecting requisite data
and subsequent analysis regarding the same. The target population incorporates the branches of
Barclays bank PLC within Sydney. The sample size of the research is 100 and simple random
sampling technique is used.
Literature Review: In order to conduct any study it becomes pertinent to review valuable
literatures. For the purpose of this study, the scholar has aimed at reviewing valuable literatures
as journals, online sources, books and other relevant materials for connecting them to the
progress related to the study. The scholar has developed a concrete theoretical background for
the understanding key concepts related to employee performance, turnover, job satisfaction,
remuneration, job dissatisfaction, training, appraisal and organization performance. These
3
valuable literatures will help the scholar arrive at appropriate understanding regarding the
various variables of the study.
Findings: The results of this research showcase that the salary is the key cause of employee
turnover within the Barclays bank PLC (Australian branch). The findings of the study reveal that
there is a raise in the employee turnover because of work load as stated by the current workers of
Barclays bank PLC (Australian branch). Similarly, the employee turnover leads to decline in
effective delivery of the service towards the clients as well as portray a negative image of the
bank. Moreover, the unhealthy work association can also be the cause of employee turnover at
Barclays bank PLC (Australian branch).
Recommendations: Based on the results of this research, there are certain recommendations
presented for Barclays bank PLC (Australian branch) according to the industry norms. These
includes senior administration needs to offer an attractive salary to the workers as well as the
workers should receive rewards in case they meet the corporate objectives. Further, the senior
administration needs to design, provide prospects for career growth for the employees of
Barclays bank PLC (Australian branch). In addition, they should engage workers in the process
of decision making which will impact the bank performance.
valuable literatures will help the scholar arrive at appropriate understanding regarding the
various variables of the study.
Findings: The results of this research showcase that the salary is the key cause of employee
turnover within the Barclays bank PLC (Australian branch). The findings of the study reveal that
there is a raise in the employee turnover because of work load as stated by the current workers of
Barclays bank PLC (Australian branch). Similarly, the employee turnover leads to decline in
effective delivery of the service towards the clients as well as portray a negative image of the
bank. Moreover, the unhealthy work association can also be the cause of employee turnover at
Barclays bank PLC (Australian branch).
Recommendations: Based on the results of this research, there are certain recommendations
presented for Barclays bank PLC (Australian branch) according to the industry norms. These
includes senior administration needs to offer an attractive salary to the workers as well as the
workers should receive rewards in case they meet the corporate objectives. Further, the senior
administration needs to design, provide prospects for career growth for the employees of
Barclays bank PLC (Australian branch). In addition, they should engage workers in the process
of decision making which will impact the bank performance.
4
Table of Contents
SOUTHERN CROSS UNIVERSITY.......................................................................................... 0
Executive summary: ..................................................................................................................... 2
List of tables and figures: ............................................................................................................. 7
1.0 Introduction: ...................................................................................................................... 8
1.1Industry partner: ..................................................................................................................... 8
1.2 Context of the study: ............................................................................................................. 8
1.3 General Research Objectives: ............................................................................................. 10
1.4 Specific Objectives:............................................................................................................. 10
1.5 Problem Definition .............................................................................................................. 10
1.6 Research Questions: ............................................................................................................ 12
1.7 Significance of the Study: ................................................................................................... 12
1.8 Scope of the Study: ............................................................................................................. 13
3.0 Theoretical background – Literature review ..................................................................... 14
3.1 Employee Turnover: ............................................................................................................ 14
3.2 Causes of employee turnover: ............................................................................................. 14
3.2.1 Remuneration: .............................................................................................................. 15
3.2.2 Job Dissatisfaction: ....................................................................................................... 15
3.3 Training and development of workforce: ............................................................................ 15
3.4 Job Satisfaction: .................................................................................................................. 17
3.5 Performance appraisal and feedback: .................................................................................. 18
3.6 Lack of Balance between work and personal life ............................................................... 18
3.7 Interruption in Service Delivery .......................................................................................... 19
3.8 Effect of employee turnover on company performance: ..................................................... 19
3.9 Conceptual Framework: ...................................................................................................... 20
3.9.1 Variables of the Framework: ........................................................................................ 20
3.10 The Underlying Assumption: ............................................................................................ 21
Table of Contents
SOUTHERN CROSS UNIVERSITY.......................................................................................... 0
Executive summary: ..................................................................................................................... 2
List of tables and figures: ............................................................................................................. 7
1.0 Introduction: ...................................................................................................................... 8
1.1Industry partner: ..................................................................................................................... 8
1.2 Context of the study: ............................................................................................................. 8
1.3 General Research Objectives: ............................................................................................. 10
1.4 Specific Objectives:............................................................................................................. 10
1.5 Problem Definition .............................................................................................................. 10
1.6 Research Questions: ............................................................................................................ 12
1.7 Significance of the Study: ................................................................................................... 12
1.8 Scope of the Study: ............................................................................................................. 13
3.0 Theoretical background – Literature review ..................................................................... 14
3.1 Employee Turnover: ............................................................................................................ 14
3.2 Causes of employee turnover: ............................................................................................. 14
3.2.1 Remuneration: .............................................................................................................. 15
3.2.2 Job Dissatisfaction: ....................................................................................................... 15
3.3 Training and development of workforce: ............................................................................ 15
3.4 Job Satisfaction: .................................................................................................................. 17
3.5 Performance appraisal and feedback: .................................................................................. 18
3.6 Lack of Balance between work and personal life ............................................................... 18
3.7 Interruption in Service Delivery .......................................................................................... 19
3.8 Effect of employee turnover on company performance: ..................................................... 19
3.9 Conceptual Framework: ...................................................................................................... 20
3.9.1 Variables of the Framework: ........................................................................................ 20
3.10 The Underlying Assumption: ............................................................................................ 21
5
3.11 Hypotheses: ....................................................................................................................... 21
4.0 Methodology: ......................................................................................................................... 22
4.1 Research design: .................................................................................................................. 22
4.2 Selection of the study area: ................................................................................................. 22
4.3 Target population: ............................................................................................................... 22
4.4 Sample size:......................................................................................................................... 22
4.5 Sampling technique: ............................................................................................................ 23
4.6 Simple random sampling:.................................................................................................... 23
4.7 Data gathering methods:...................................................................................................... 23
4.7.1Interview: ....................................................................................................................... 23
4.7.2Questionnaire: ................................................................................................................ 24
Questionnaire 1: Research questionnaire for Barclays Bank PLC (Australian Branch): ... 24
PART A: General information: ................................................................................................. 24
PART B: Questionnaire to respondents: ................................................................................... 25
Question 2: Interview questions for Barclays Bank PLC (Australian Branch): .................. 29
PART A: GENERAL INFORMATION: .................................................................................. 29
SECTION B: INTERVIEW QUESTIONS:.............................................................................. 30
4.8 Types of Data ...................................................................................................................... 30
(a) Secondary Data: ............................................................................................................... 30
(b) Primary Data: ................................................................................................................... 30
4.9 Documentation Method:...................................................................................................... 31
4.10 Data Presentation: ............................................................................................................. 31
4.11 Questionnaire: ................................................................................................................... 31
4.12 Interview questions: .......................................................................................................... 31
5.0 Research Findings (Results): ............................................................................................... 33
5.1 Objective 1: The causes of employee turnover in Barclays bank PLC (Australian branch):
................................................................................................................................................... 33
Salary satisfaction: ................................................................................................................. 33
Prospects for Career progression (Training): ........................................................................ 34
Employee Involvement in Decision Making: ........................................................................ 34
Input not valued: .................................................................................................................... 35
3.11 Hypotheses: ....................................................................................................................... 21
4.0 Methodology: ......................................................................................................................... 22
4.1 Research design: .................................................................................................................. 22
4.2 Selection of the study area: ................................................................................................. 22
4.3 Target population: ............................................................................................................... 22
4.4 Sample size:......................................................................................................................... 22
4.5 Sampling technique: ............................................................................................................ 23
4.6 Simple random sampling:.................................................................................................... 23
4.7 Data gathering methods:...................................................................................................... 23
4.7.1Interview: ....................................................................................................................... 23
4.7.2Questionnaire: ................................................................................................................ 24
Questionnaire 1: Research questionnaire for Barclays Bank PLC (Australian Branch): ... 24
PART A: General information: ................................................................................................. 24
PART B: Questionnaire to respondents: ................................................................................... 25
Question 2: Interview questions for Barclays Bank PLC (Australian Branch): .................. 29
PART A: GENERAL INFORMATION: .................................................................................. 29
SECTION B: INTERVIEW QUESTIONS:.............................................................................. 30
4.8 Types of Data ...................................................................................................................... 30
(a) Secondary Data: ............................................................................................................... 30
(b) Primary Data: ................................................................................................................... 30
4.9 Documentation Method:...................................................................................................... 31
4.10 Data Presentation: ............................................................................................................. 31
4.11 Questionnaire: ................................................................................................................... 31
4.12 Interview questions: .......................................................................................................... 31
5.0 Research Findings (Results): ............................................................................................... 33
5.1 Objective 1: The causes of employee turnover in Barclays bank PLC (Australian branch):
................................................................................................................................................... 33
Salary satisfaction: ................................................................................................................. 33
Prospects for Career progression (Training): ........................................................................ 34
Employee Involvement in Decision Making: ........................................................................ 34
Input not valued: .................................................................................................................... 35
6
Lack of balance between work and personal life: ................................................................. 36
5.2 Objective 2: Performance assessment: ................................................................................ 37
Performance assessment: ....................................................................................................... 37
5.3 Objective 3: The effect of worker turnover on company performance in Barclays bank PLC
(Australian branch):................................................................................................................... 38
Decline in Work Output: ....................................................................................................... 38
Decline in the product quality being manufactured: ............................................................. 39
Depletion of resources: .......................................................................................................... 40
Workers not fulfilling commitments: .................................................................................... 40
Interruption of Service Delivery: ........................................................................................... 41
Loss of Customers: ................................................................................................................ 42
Raising load of work for every worker:................................................................................. 42
5.4 Objective 4: Suggest tactics which can be utilized for decreasing high scale of worker
turnover in Barclays bank PLC (Australian branch): ................................................................ 43
Worker appreciation for target accomplishment: .................................................................. 43
Workers need to be well paid: ............................................................................................... 44
Staffs work association: ......................................................................................................... 44
6.0 Discussion: ............................................................................................................................. 45
6.1 Primary causes for workers to quit their job: ...................................................................... 45
6.2 Range of salary: ................................................................................................................... 45
6.3 Absence of appreciation: ..................................................................................................... 45
6.4 Shortage of Training and Career progression: .................................................................... 46
6.5 Absence of balance between personal and professional life: .............................................. 46
6.6 Actions which the administration need to take for decreasing employee turnover ............ 46
7.0 Conclusion: ............................................................................................................................ 47
7.1 Recommendations: .............................................................................................................. 47
7.2 Limitation of the Study: ...................................................................................................... 48
References:................................................................................................................................... 49
Lack of balance between work and personal life: ................................................................. 36
5.2 Objective 2: Performance assessment: ................................................................................ 37
Performance assessment: ....................................................................................................... 37
5.3 Objective 3: The effect of worker turnover on company performance in Barclays bank PLC
(Australian branch):................................................................................................................... 38
Decline in Work Output: ....................................................................................................... 38
Decline in the product quality being manufactured: ............................................................. 39
Depletion of resources: .......................................................................................................... 40
Workers not fulfilling commitments: .................................................................................... 40
Interruption of Service Delivery: ........................................................................................... 41
Loss of Customers: ................................................................................................................ 42
Raising load of work for every worker:................................................................................. 42
5.4 Objective 4: Suggest tactics which can be utilized for decreasing high scale of worker
turnover in Barclays bank PLC (Australian branch): ................................................................ 43
Worker appreciation for target accomplishment: .................................................................. 43
Workers need to be well paid: ............................................................................................... 44
Staffs work association: ......................................................................................................... 44
6.0 Discussion: ............................................................................................................................. 45
6.1 Primary causes for workers to quit their job: ...................................................................... 45
6.2 Range of salary: ................................................................................................................... 45
6.3 Absence of appreciation: ..................................................................................................... 45
6.4 Shortage of Training and Career progression: .................................................................... 46
6.5 Absence of balance between personal and professional life: .............................................. 46
6.6 Actions which the administration need to take for decreasing employee turnover ............ 46
7.0 Conclusion: ............................................................................................................................ 47
7.1 Recommendations: .............................................................................................................. 47
7.2 Limitation of the Study: ...................................................................................................... 48
References:................................................................................................................................... 49
7
List of tables and figures:
Figure 1 Conceptual framework ................................................................................................................. 20
Table 1 salary satisfaction ........................................................................................................................... 33
Table 2 No Prospects for career progression (Training) ............................................................................. 34
Table 3 Employee Involvement in Decision Making ................................................................................... 35
Table 4 Input not valued ............................................................................................................................. 36
Table 5 Lack of balance between work and personal life ........................................................................... 36
Table 6 Performance assessment ............................................................................................................... 37
Table 7 Decline in Work Output .................................................................................................................. 39
Table 8 Decline in the quality of product being manufactured .................................................................. 39
Table 9 Depletion of Resources .................................................................................................................. 40
Table 10 Workers not fulfilling commitments ............................................................................................ 41
Table 11 Interruption of Service Delivery ................................................................................................... 41
Table 12 Loss of Customers ........................................................................................................................ 42
Table 13 Raising load of work for every worker ......................................................................................... 42
Table for worker appreciation on target accomplishment ......................................................................... 43
Table 15 workers need to be well paid ....................................................................................................... 44
Table 16 Staff work association .................................................................................................................. 44
List of tables and figures:
Figure 1 Conceptual framework ................................................................................................................. 20
Table 1 salary satisfaction ........................................................................................................................... 33
Table 2 No Prospects for career progression (Training) ............................................................................. 34
Table 3 Employee Involvement in Decision Making ................................................................................... 35
Table 4 Input not valued ............................................................................................................................. 36
Table 5 Lack of balance between work and personal life ........................................................................... 36
Table 6 Performance assessment ............................................................................................................... 37
Table 7 Decline in Work Output .................................................................................................................. 39
Table 8 Decline in the quality of product being manufactured .................................................................. 39
Table 9 Depletion of Resources .................................................................................................................. 40
Table 10 Workers not fulfilling commitments ............................................................................................ 41
Table 11 Interruption of Service Delivery ................................................................................................... 41
Table 12 Loss of Customers ........................................................................................................................ 42
Table 13 Raising load of work for every worker ......................................................................................... 42
Table for worker appreciation on target accomplishment ......................................................................... 43
Table 15 workers need to be well paid ....................................................................................................... 44
Table 16 Staff work association .................................................................................................................. 44
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