Employee Retention: Is It Possible? A Case Study at First of America Bank Corporation
Gramith, Amanda Sue
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The following paper begins with a review of literature identifying key theories relating to turnover. There are many such theories existing, but are the companies taking them into consideration when attempting to decrease their turnover? Employee job satisfaction, role conflict, supervisory behavior, financial rewards and employee perceived career mobility are found to have a significant effect on employee's propensity to leave an organization. These theories and others must be considered when determining why individuals are terminating their employment. First of America Bank Corporation was interested in determining the cause of their employee turnover and ultimately significantly reduce their turnover figures. They first conducted a survey given to current employees which identified key job skills an employee must possess to survive on the job. Next, First of America determined how they planned to decrease their turnover rates. They adapted the Applicant Profile™ pre-employment assessment into their hiring process. After a period of ten months, First of America decided to investigate the strength of the test and recalculate their turnover figures. Their turnover had been reduced significantly, but how? The individuals who passed the test and were active employees at the end of the ten months and those who were hired and terminated their employment during the same ten months showed relatively no difference in their assessment scores. Therefore, what is the pre-employment test predicting? In search of the answer to this question, the following study was created. The following is First of America's attack on reducing their turnover and the Applicant Profile's TM strengths and weaknesses.