FACING THE CHALLENGE OF STAFF RETENTION IN FINANCIAL INSTITUTIONS IN CAMEROON: THE IMPORTANCE OF HUMAN RESOURCE MANAGEMENT PRACTICES’ DEGREE OF INTEGRATION

Emmanuel Nwahanye

Abstract


Although human resource management (HRM) practices have proven fundamental to face staff retention issue, this does not indicate how leaders must take concrete action to be effective against employee turnover. Should they apply these practices to all staff and without discrimination? This study aims to contribute to this limitation of previous studies. The data used were collected through questionnaires from 73 managers and 292 employees of 73 financial institutions operating in Cameroon. The results matched from the Ordered Logistic Regressions show that in the context of Cameroonian financial institutions, recruitment, communication, performance appraisal, training and career management practices need to be highly integrated (that is to say applied to any staff) face with the retention’ challenge. Organisation of work and induction practices need to be sufficiently integrated (that is to say, applied to 2 or 3 professional categories). The study recommends to business leaders to integrate these practices in terms of their contribution to employee loyalty issue.


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