Global Journal of Commerce & Management Perspective
Open Access

Abstract

Retaining Talents in Bank:-A Comparative Study between Private Sector Banks and Public Sector Banks of Jaipur

Dr. Neha Sharma and Ms Avni Sharma

stract Employee retention means ability of an organisation to retain its best employees. Employee retention is an effective mean or a way to maintain work force in the bank which is both stable and sustainable. There are certain reasons for the employee to leave an organisation. Expectations play an important role to determine whether the employees are satisfied and dissatisfied with the current job. These expectations will range from pay, working hour, holiday and bonuses. If the expectation is unrealistic from the day one of the job that would result in unnecessary cost to the organisation and it would take more time to reach the goals and objectives. Employees who find the mismatch of their particular talent may decide to leave the company and go for another job in other organisation. The study explores the relationship Between the employee and the factors leads to employee retention in Banking Sector which in turn tells that the factors which are responsible for Employee Retention will lead to Increase in Productivity of the Bank and People Becomes Motivated to do the Job, Better Perquisites, Facilities will help the employees in doing the work in a fruitful manner. A Comparative Study was done in the Private Sector Banks and Public Sector Banks of JAIPUR City where the employees have given their views on the reason of Employee retention in Banks and the Factors lead to employee retention in the Banks. Sample Size was 100. The Questionnaire was distributed in the Private sector and Public Sector Banks of JAIPUR out of which 100 Responses came. Research study was Primary research as well as secondary research. Some of the data was collected through Internet, Research Papers and Books. The data was collected through the questionnaire. In Questionnaire 24 questions were structured on the basis of Six Parameters of Employee Retention. Those Parameters are:-Adequate and Fair Compensation, Appreciation and Stimulation, Leadership Skills, Follow Procedures, Learning Attitude, Job Satisfaction and Intention to Stay. It has been found from the study that employee retention is stable in Public sector Banks Like Punjab National Bank, Canara Bank as compared to the ICICI Banks and HDFC Banks because employees are satisfied with the job as well as the working environment. Bank Provides Leaves to the employees as compared to private sector banks. In Private sector banks the leaves are limited. The Monetary Benefits are good in Private Sector Bank and Much Non-Financial Benefits are given in Public Sector Banks and recognition to the employees