Factors Influencing Employee Turnover in the Banking Industry: The Case Study of National Bank of Commerce (NBC) Head Office Dar es Salaam

The employee turnover in the banking industry in Tanzania has been a threat to many people including the employers and graduates who are freshly employed after the graduations from colleges and universities. The purpose of this study was to assess the causes of employee turnover in the banking industry, the case being NBC headquarter. The study was carried out in the city of Dares Salaam on a convenience sample of 61 respondents through the distribution of questionnaires to employees of NBC followed by a personal interview with the top management. The findings of the study revealed that managerial controllable factors such as insufficient salary and benefits, limited opportunity for training and development, lack of promotions over time and lack of clarity in procedures for promotions contribute to employee turnover in NBC. From the findings of the study a number of recommendations have been provided to reduce if not end the problem so that employees are retained