MANAGERIAL STRATEGIES FOR REDUCING EMPLOYEE TURNOVER IN BANKING INSTITUTION

Abstract

Today, the main problem of banking institutions is a significant level of staff turnover, which leads to a decrease in the stability and prospects of the financial sector in general. The purpose of each bank is to meet the needs of clients and to generate profit from its activities. To ensure the efficiency of its work, the bank uses staff, which, in turn, utilizing the knowledge, professional skills and professionalism, is one of the most important resources of this institution. In the current state of the domestic economy, banking institutions and enterprises are trying to introduce new standards of work with personnel to increase the efficiency of their activities. The problem of staff turnover is common in the banking sector. Most of banks suffer from a permanent shift in the staffing of the internal reserve, and stressful situations resulting from this. To analyze the causes and solve the problems of staff turnover at the level of strategic and tactical planning. To study the social and psychological methods of managing the authors of the article developed the questionnaire that allows them to analyze the staff's satisfaction with the style of leadership, the degree of motivation, and to identify the features of personnel management, the impact of social and psychological aspects of management on staff turnover. Based on the answers to the questionnaire, the index of satisfaction was calculated and the factors causing the greatest satisfaction and the greatest dissatisfaction of the personnel by work organization in PJSC CB "PrivatBank" were determined. The article proposes concrete ways to reduce staff turnover. These propositions and developments can be actively used in the practical sphere of PJSC CB "PrivatBank", which will improve the psychological climate in the team, increase the efficiency of work of the employees and increase their level of loyalty to the bank.