Report on Employee Retention Strategy of Eastern Bank Limited (Part-3)

4.3 FACTORS ATTRIBUTING THE EMPLOYEE TURNOVER IN EBL

4.3.1 Nature of Relationship with the Supervisor  

A good relationship between the supervisors and the employees is very necessary for a sound, conducive and favorable work environment.  If there is a conflict with the supervisor and the peers of the respective department as well as other departments, the work environment will be hampered and the dissatisfaction would be arouse among the employees.

Figure:  Nature of Relationship with the Supervisors

According to the most resigned employees the relationship between the supervisor and the employees were excellent in EBL. Almost 57% of the resigned employees told that they had an excellent relationship with their supervisors.

4.3.2 Fairness of Supervisor

Fairness in treatment of the supervisors with the employees in EBL is fair according to the most of

the resigned employees. It is easy to understand from the following graph.

Figure:  Fairness of Supervisor

From the above graph it is seen that about 57% of the resigned employees had a good relationship with their supervisors or with their immediate line managers. Beside this, about 24% of resigned employees had somewhat fair relationship with their supervisors.

4.3.3 Supportiveness and Attitude of Supervisor  

Everyone needs support to perform every single job. Without the proper support from the immediate line manager or the supervisor performing a job accurately would be difficult. Beside this the positive attitude of the supervisor toward the employees motivates an employee to be committed to perform his/her job. About 77% of resigned employees agreed that the Supportiveness and Attitude of Supervisor toward them in their respective department in EBL was satisfactory.

4.3.4 Co-operation, Friendliness and Respectfulness of Colleagues (own Department)

Without the Co-operation, Friendliness and Respectfulness of Colleagues of an employees’ respective department, it would be difficult to perform a job. Because to perform each and every job proper guidance from the immediate supervisor and support from the peers is necessary.

Co-operation, Friendliness and Respectfulness of Colleagues toward resigned employee in their respective department in EBL were very satisfactory. Almost 87% of the resigned employees were satisfied with the co-operation, friendliness and respectfulness of colleagues in their department.

4.3.5 Co-operation, Friendliness and Respectfulness of Colleagues (Other DepartmentS)

Co-operation, Friendliness and Respectfulness of Colleagues for an employee is also necessary from other departments. Because sometimes some jobs are interrelated with the other departments. Without the necessary help from the other department it may be very difficult to perform a job comfortably.

Co-operation, Friendliness and Respectfulness of Colleagues toward resigned employee from other departments in EBL were satisfactory. Almost 77% of the resigned employees were satisfied with the co-operation, friendliness and respectfulness of colleagues in other departments.

4.3.6 Conditions of Work Environment

The necessity of sound, conducive and favorable work environment is very important for any organization to perform the job in a timely and accurate manner. From the survey among the resigned employees it has been found that almost 87% of resigned employees agreed that they had a sound, conducive and favorable work environment for the job to perform. So, the work environment in EBL is quite satisfactory

4.3.7 Clarity of Role Perception to perform the job

A clear role perception regarding the assigned job is mandatory to perform it successfully. Without the clear role perception about the assigned job would be difficult to perform accurately and it will create both the role conflict and role ambiguity among the employees. Role ambiguity occurs when an employee does not have enough idea about the job to perform if the job is inadequately defined. Beside this when others have different perception regarding a person’s job, role conflict arises. So, to avoid both the role conflict and role ambiguity every employee should be communicated well which is

quite satisfactory in EBL. About 84% of resigned employees were agreed that they had been communicated well by their supervisors to perform the job on time and accurately.     

4.3.8 Authority to perform the job

Without proper authority it is almost impossible to perform job. So, enough authority should be provided by the employer to the subordinate regarding the respective job.

 Figure :  Authority to Perform the Job

In EBL, 56% of resigned employees said that they got somewhat enough authority to perform the assigned jobs. Only 33% employees are quite satisfied about the authority provide to them. Yet, EBL should ensure an environment for all the employees where they will be able to perform the job by applying their own decision making ability and without any disruptions of others. EBL should also ensure the proper direction from the top level management to eliminate the role conflict.

4.3.9 Freedom to perform the job

Freedom as like as proper authority is also needed to do a job in a satisfactory manner. If an employee cannot exert his/her decision making ability or own judgment regarding a specific job, the job will be a incomplete one and dissatisfaction among the employees will be also arouse.

 Figure:  Freedom to Perform the Job

From the above graph, the condition of freedom to perform a job in EBL can be easily understood. It can be seen that 50% of the resigned employees expressed their opinion regarding job freedom that they had found somewhat enough authority to perform their assigned job. A very few of resigned employees expressed their dissatisfaction regarding job freedom in EBL.

4.3.10 Fairness in distributing job responsibilities

Fairness in case of distributing job responsibilities among the employees is a crucial factor for both the employer and the employees. Job responsibilities should be distributed among the employees based on the experience of the employees, professional training achieved in related fields and the level of education of the employee to practice the fairness and equality and to eliminate the dissatisfaction of the employees.

Figure:  Fairness in Distributing Rob Responsibilities

Regarding fairness of distributing job responsibilities in EBL, about 44% employees expressed their satisfaction which is not a big percentage from the bank’s perspective. Because about 14% of the resigned employees was totally dissatisfied about the issue and 10% of the resigned employees did not mention their opinion regarding fairness of distributing the job which is an indication of dissatisfaction of employees. So, EBL need to be more concerned about the fairness in distributing the job.

4.3.11 recognition of Contributions of employees

Job recognition for the job well done is a strong motivational factor for every employee. It stimulates the internal need of an employee that leads him/her to dive and achieve the goals for him/her as well as for the organization. Beside this constructive criticism about the poor performance of an employee influences him/her to be optimistic and goal oriented. If the immediate supervisor continuously monitor and measure the performance of an employee and provides timely feedback, the employee would be guided properly to the productivity of the organization.

The above graph clearly states that a considerable percentage (about 67%) of employees was properly recognized by their immediate supervisors for their contributions in EBL though satisfaction of the remaining percentage of employees regarding job recognition was not up to the mark. Beside these 10% of the resigned employees did not mention their opinion regarding job recognition which is an indication of dissatisfaction of employees.

4.3.12 Level of employee morale in EBL

Employee morale and honesty is quite necessary in every aspects of the job which is highly satisfactory in EBL according to 67% (approximately) of the resigned employees. About 27% of the resigned employees found somewhat employee morale in EBL.

4.3.13 Adequacy of Training for Employee Development

Training for employee learning and development is very necessary. Without proper training an employee cannot perform the respective job fairly. For this purpose every organization arranges both the in-house training and foreign training for their newly recruited employees.

EBL’s Training program:

EBL provides minimum six (6) months probation period for a newly hired employee for learning and development. Based on the performance of the probation period an employee may be recruited as an permanent employee or he/she may be placed for another probation period. Beside this EBL provides two kinds of training for their employees:

• In-house training
• Foreign training

The management of EBL believes that they arrange necessary training programs for employee development for higher productivity of the employee.

4.3.14 Flexibility in working hours

Flexibility in working hours should prevail to eliminate the monotony of doing the job. Work in a stretch creates job stress for the employees and ultimately reduces the productivity of the employee.

According to the most of the resigned employee the working hour was flexible for them. Beside this 30% of resigned employees found somewhat rigidity in working hours while working in EBL.

4.3.15 Level of job security

According to the management of EBL Job security in EBL is quiet high and fully secured for an employee if he/she does not commit any offensive work that violates the code of conduct or treated as misconduct as per the policy of EBL. It is also dependent on the performance and honesty of an employee and the compliance with the process and procedures of EBL.

Almost 57% employees found the job in EBL as fully secured and about 34% considered the job in EBL as secured which is a clear indication that the level of job security in EBL is quiet high if any employee does not violates the code of conduct of the bank or commit any other offensive work.

4.3.16 Career advancement opportunity

Career advancement opportunity in EBL is totally dependent on the performance of the employee. If an employee can perform the job up to the mark that meet up the expectations of the employer, he/she has an excellent career advancement opportunity with the EBL.

 Figure:  Career Advancement Opportunity

From the graph it is seen that about 34% of the resigned employees found excellent career advancement opportunity in EBL whereas about 27% employees found fair opportunities for career advancement opportunity in EBL. So, EBL should specify a clear career path for the employees.

4.3.17 Employee Loan

EBL currently provides two types of loan facilities for its internal employees. These are

4.3.17.1 House building Loan Scheme for EBL employees

The scheme shall be called the “Eastern Bank Limited staff House Building Loan Scheme”. To be eligible to get the HBLS an employee must be apermanent member of staff and has a minimum 60 months’ service to retire. Beside this he/she has 5 (five) years of continuous service in EBL or 5 (five) years of continuous banking service including 2 years in EBL.  His/her overall performance is considered satisfactory (not below rating 3).In case both the husband and wife are employees of the bank, only one of them shall be entitled to avail loan under this scheme. Rate of Interest for this loan scheme is 3% (three percent) subject to change and the repayment arrangement for the loan shall be made within maximum 20 (twenty) years.

4.3.17.2 Car Loan Scheme

The Board of Directors in its 297^th Meeting held on September 07, 2004 has approved the Revised Car Loan Scheme-2004 for the EBL employees. In this scheme the “Borrower” means any employee (AVP-SEVP) availing of the loan facility. To avail the car loan one must have to be a permanent employee of the bank and has minimum 60 months’ service to retire. The borrower has to pay 4% (four percent) interest per annum and the loan shall be repaid within 5 (five) years from the date of disbursement on monthly installment basis to be deducted from his salary and/or from other sources.

The weighted average satisfaction level regarding the above two kinds of employee loan facility among the resigned employees was 2.73 which is dissatisfactory to them. The criteria to be eligible to get the loan facilities were too rigid to the maximum employees especially in the junior or entry level of jobs.

4.3.18 Leave facilities

The weighted average satisfaction level regarding the leave facilities of EBL was 3.57 which mean that employees are neither satisfied nor dissatisfied with the current process of leave facilities. There are four categories of leave facilities available for the employees of EBL which are discussed below:

4.3.18.1 Annual Leave

“Annual Leave” means any working day’s leave taken by a permanent employee. Every employee shall earn Annual/Privilege leave with full pay after completion of one year service. Every employee shall have to avail at least 15 (fifteen) days privilege leave every year. Any extension of leave will be at the discretion of competent authority.

4.3.18.2 Sick Leave

Sick leave will be given on the basis of actual need of staying away from work due to illness. This shall however, not exceed 14 days in a calendar year. Application for sick leave for more than 3 (three) days must be accompanied by a medical report and prescription from his/her attending physician.

4.3.18.3 Maternity Leave (Not Accruable)

Only the confirmed female employee will enjoy maternity leave for 45 (forty five) days immediately preceding and 45 (forty five) days following the date of delivery with admissible benefits. This leave will not be debited from her leave account. A certificate from a doctor will be required at the time of applying maternity leave stating the expected date of delivery. The extension/continuation of maternity leave for more than 1 (one) month may be granted/allowed by the DMD/MD on submission of medical certificate with full pay.

4.3.18.4 Extraordinary Leave

Extra ordinary leave can only be granted to an employee on an emergency case when no other leave is available to him/her leave account. Managing Director at his discretion can approve the extraordinary leave up to 180 days without pay.

4.3.19 Medical Facilities

Hospitalization Reimbursement

The above facility will be limited only to the confirmed employees and his/her immediate family members which include wife/husband and dependent sons and daughters only. Children attaining 18 years of age or on getting married, whichever is earlier, will not be entitled to reimbursement of the cost of medical treatment. For hospitalization/surgical treatment, the bank will reimburse two (2) basic salaries for self/spouse/children up to the age of 18 years. The claim of hospitalization bills must be supported by original bills of reputed hospital/clinic.

Regarding the amount of health care facilities the resigned employees of EBL were somewhat satisfied which they provide an average point of 3.77.

4.3.20 Retirement/Terminal Benefits

Every organization provides some retirement or terminal benefits for its employees who have served the organization for a long period of time and going for the retirement. These facilities may also be termed as End of Service Benefits for the employees. In EBL, there are different numbers of retirement benefits including PF, Gratuity, Encashment facilities etc.

From the analysis of the report it has been found that the weighted average satisfaction regarding the retirement benefits among the resigned employees was in neutral position which means that they are neither satisfied nor dissatisfied with the current retirement plan benefits.

4.3.20.1 Provident Fund

Members on confirmation, in regular employment with the Bank, are required to join the Provident Fund to which members contribute 10% of their Basic Salaries and the Bank makes a matching contribution.

4.3.20.2 Gratuity

The Bank shall create a gratuity fund every year for adequate amount required for the purpose.

Managing Director and Deputy Managing Director would be eligible to receive Gratuity after completion of 5 years of service with the bank. Members become eligible to receive Gratuity on completion of 10 years of continuous confirmed services with the bank.

4.3.20.3 Encashment Facilities of Annual/Privilege leave

Annual/privilege leave encashment facilities may be allowed to the employees for a maximum of 90 days at the time of his/her leaving the bank other than dismissal. While allowing the facilities, the last basic pay, house allowance/ceiling and medical allowance will be taken into consideration.

4.3.20.4 Superannuation Fund Scheme

This includes Admissible Benefits such as death and survival benefits, Coverage and Inadmissible Benefits such as suicide and death sentence.

4.3.20.5 Retirement Gift

Suitable retirement gift will be made to the members on their normal retirement the cost of which will not exceed TK. 20,000/=.The presentation of the gift will usually be made at an appropriate place and time.

4.3.20.6 Long Service Awards

Suitable presentation of Long Service Awards will be made to the members on completion 10 (ten) years of continuous service with the Bank. The gift amount will not exceed Tk. 15,000/- .

4.3.21 Level of Satisfaction regarding compensation packages

4.3.21.1   Salaries

Salaries are confidential between the employees concerned and the Management. Employees joining against a post will be receiving the salary as per the grade they join in. The annual salary revision is decided by the Managing Director with approval of the Board of Directors based on, individual performance, market movement, Bank’s affordability, Individual’s relative position in a particular salary range etc.

4.3.21.2 Promotional Benefits

In the event of Promotion/Up-gradation to a higher Job Grade, the employee will receive an increase of 10% of his/her previous basic salary and all other allowances applicable in the higher grade.

4.3.21.2   Increments

Salary increases are awarded once a year on the basis of Increment Policy to all employees who have performed satisfactorily in the given year for a minimum period of 180 days after confirmation of service. One may not receive any increment on a given year as a penalty on account of any offence/disciplinary measure. Increments are awarded to the employees as per Rating of the Annual Performance Appraisal.

4.3.21.4 Promotion

Promotion depends on the availability of a position in the higher grade and a proven track record of an individual’s capabilities of taking over higher responsibilities. Promotion may also take place if the job size increased and the Management committee decides to upgrade the job.

4.3.21.5 Bonuses

EBL provides two types of bonuses for its employees- one is festival bonus and another one is performance bonus which is totally based on the outstanding performance of an employee for a given period of time. The performance of an employee is measured with appropriate performance appraisal processes of EBL.

Regarding the availability of employee bonus the resigned employees of EBL was not satisfied. Their satisfaction level regarding employee bonus is 3.23 that means they are dissatisfied with the current process of bonus of EBL.

4.3.21.5.1 Festival Bonus

The following Employees normally to receive festival bonus as under:

Officers and employees under any disciplinary action will not receive any festival bonus.

4.3.21.5.2 Performance Bonus

This bonus will only be awarded to those who have completed 180 (one hundred and eighty) days’ confirmed service with the Bank and made significant contribution towards achieving the profit target over and above the normal target. The contribution measurement will be coming from the Performance Appraisal System. The employees who are rated four (4) in the appraisal process are not eligible for Performance Bonus.

Figure:  Level of Satisfaction Regarding the Compensation Packages

From the pie chart it is seen that almost 64% of the resigned employees were satisfied with the compensation packages of EBL. About 34% employees were somewhat satisfied with the process whereas only 3% employees expressed their dissatisfaction regarding the compensation packages of EBL.

4.3.22 Level of Satisfaction with the performance appraisal Process

Performance Appraisal System (PAS) is the tool by which EBL measures the performance of an individual and identify the gaps and plan future developments in order to enable a better fit between the jobs & the incumbent. Performance Appraisal System is quite structured that it can measure or assess both goals (what) and the management competencies (how). A management competency is a skill, ability or trait that predicts success to perform a job.

The Performance Appraisal needs to be implemented as per the PAS format which will be circulated by HR at the beginning of the year. The definition of rating in Performance appraisal is given below for reference:

1= The individual who has exceeded 125% and above of his target in all of his key result areas is eligible for rating 1.

2 = The individuals who has exceeded 105% – 110%of his target in all of his key result areas is eligible for rating 2.

3 = The individual who has achieved 90%-100% of his target in all of his key result areas is eligible for rating 3. The employee achieved the essential requirement of day to day job.

4 = The individual failed to perform within the set objective.

5 = The individual who has failed to demonstrate his performance in all of his key result areas to be rated  5 and he/s  will be treated as non performer.

Those who are rated 1 to 3 are eligible for incentive bonus:

 Figure:  Level of Satisfaction with the Performance Appraisal Processes

From the above pie chart it can be seen that 50% of the resigned employees were satisfied with the performance appraisal process of EBL while almost 27% of resigned employees did not mention their satisfaction or dissatisfaction level. Beside these 10% employees were dissatisfied with the current performance appraisal processes of EBL in which contractual employees are in a greater number.

4.4 Expectations met by resigned employees during the tenure in EBL

Everyone joins in a organization in order to meet some of his/her expectations as well as the goal of the organization. If the respective organization can provide excellent career advancement opportunity, good compensation and benefits packages, sound, conducive and supportive work environment, the expectations of the employees definitely will be met up.

It is seen that about 57% of the resigned employees told that their achievements in EBL was close to their expectations. 30% resigned employees found everything in EBL within their expectations. Almost 14% resigned employees found everything far from their expectations in EBL which is also a matter of concern.

4.5 Level of Satisfaction among the resigned employees regarding the overall company policy

The overall company policy of an organization should be somewhat flexible for the employees. If the company policy is too rigid, the compliance with the policy would sometimes be difficult for the employees. So, overall company policy of an organization should be in a flexible and structured way.

In, EBL almost 44% of the resigned employees were somewhat satisfied with the overall company policy. 30% employees found the EBL’s policy as quite flexible. A minimum percentage of employees were dissatisfied with the overall company policy of EBL.

5.0 SUMMARY OF THE FINDINGS

After analyzing all the relevant data and information the researcher has found a number of issues as the major findings of the report. Here is the summary of these key findings:

• The total number of manpower recruited in EBL in 2008 was 421 and the number of manpower left the EBL in 2008 was 273. Among the 273 resigned employees 30 employees left the EBL from October 2008 to January 2009. The percentage of male and female resigned employees from October 2008 to January 2009 is 86.67% and 13.33% respectively.
• Among the 421 employees recruited in 2008, 171 were recruited as permanent employees and 250 were recruited on contractual basis.
• The majority of employees who left the organization were recruited on contractual basis.
• Employee turnover ratio in EBL for the year 2008 was 22%.
• Among the total resigned employees 80% have confirmed their job in other manufacturing and services organizations.
• Better job offer in terms of career advancement and higher compensation were the main reasons for frequent employee turnover in EBL. Beside these, there were some other reasons for turnover including monotonous job, leaving for higher studies, deprivation, medical/health reason, internal politics, less scope for career advancement, retirement, leaving the country for abroad as an immigrant etc.
• About 57% resigned employees had excellent relationship with their line manager or immediate supervisor. Almost 67% employees agreed that their supervisor had treated them fairly and 77% told that their supervisors were supportive and had shown good attitude toward them.
• Co-operation, friendliness and respectfulness of colleagues in respective department and other departments were excellent toward the resigned employees.
• According to the most of the resigned employees job environment was sound, conducive and favorable.
• Although most of the employees had clear role perception about their job, authority and freedom was not enough to perform their respective jobs.
• Fairness in distributing job responsibilities in EBL is not satisfactory.
• Almost 67% employees were recognized by their supervisors for the job well done.
• Employee morale in EBL is quite high. It has been seen that about 67% employees are satisfied regarding the employee morale in EBL.
• About 57% employees were somewhat trained for the job that had been assigned on them which is not satisfactory to perform the job effectively.
• Working hour in EBL is flexible though a considerable percentage of employees found somewhat rigidity in working hours which is a matter of concern for the employees.
• Job security in EBL is quite high and fully secured for an employee if he/she does not commit any offensive work that violates the code of conduct or treated as misconduct as per the policy of EBL. It is also dependent on the performance and honesty of an employee and the compliance with the process and procedures of EBL.
• Career advancement opportunity in EBL is somewhat excellent and it is totally performance oriented.
• More than 60% employees were satisfied with the compensation packages of EBL and 50% employees were satisfied with the performance appraisal process of EBL. A considerable percentage of employees did not mention their opinion regarding performance appraisal process of EBL.
• Weighted average satisfaction level regarding adequacy of bonus, leave facilities, health care facilities and retirement plan benefits is somewhat satisfactory while dissatisfaction arouse regarding existing loan facilities for internal employees.
• According to 57% resigned employees everything was close to their expectations during their tenure in EBL.
• The overall company policy of EBL was somewhat satisfactory among the resigned employees which are about 44% of total resigned employees.

6.0 CONCLUSION

Eastern Bank Ltd. is one of the leading commercial banks providing all kinds of banking facilities to its customers. The bank provides fully centralized and retail banking services through its 34 branches throughout the Bangladesh. The financial performance of the bank is satisfactory for the last year. Inaugurating four new branches indicates the bank has a very potential business in coming future. Beside this

Though EBL is not a high payee organization compared to market leaders, the excellent and open door work environment and totally performance driven career advancement opportunity have made many of the people to be a wining member of EBL. This is the key success factor of EBL.

7.0 RECOMMENDATIONS

7.1 Recommendations of the MANCOM Members going to be implemented in EBL

The MANCOM Members of EBL has concerned with the turnover rate of EBL and providing emphasize on increasing the current retention rate of EBL. For this purpose, Management Committee of EBL has already implemented new job dimension to create internal motivation among the employees. Beside this for the year 2009, EBL is going to implement the following issues in order to increase the employee retention rate:

Salary Survey

In the year 2009, EBL is going to conduct a salary survey among all the employees and based on the recommendations of the survey, the existing salary structure would be revise.

Clear Career Path

A clear goal-oriented career path is going to be set-up for contractual employees in order to reduce the turnover rate among them.

Internal Job Rotation

Implementing internal job rotation for eliminating monotony of doing same job and providing an opportunity to gain new experiences.

In-house Talent Build-up

Initiating internal job search in order to build up in-house talent in EBL

Review of Performance Bonus and Increment

Reviewing performance bonus and increment for the year 2009.

Review of Recruitment and Selection Policy

Introducing policy regarding recruitment & selection, MTO, talent hunt and internship policy has just been reviewed and waiting for Board of Director’s approval.

7.2 Recommendations of the Researcher

After collecting all the relevant data and information and the careful analysis of these, some key issues have come front as the relevant findings of the report. Based on those findings, the researcher has recommended some key issues in order to reduce employee turnover and increase the employee retention rate of EBL:

Introducing more facilities for contractual employees

The trend of turnover in EBL is quiet high among the contractual employees for the last year. So, EBL should provide utmost care to reduce the turnover of employees who are working on contractual basis. The consolidated amount paid to the contractual employees should be increased with the consent of Management Committee of EBL

Introducing policy to reimburse the training amount

As EBL does not have any bond or agreement with the employees while recruiting, for this reason turnover is quiet frequent in EBL compared to other organizations. So, EBL should impose policy regarding the departing employees that they should at least reimburse the amount that had been incurred for training and development.

Reducing probation period for contractual employees

The tenure (2 years) of contractual employees should be decreased to reduce the dissatisfaction of them to be recruited as permanent employees. It may be reduced from two (2) years to one (1) year and provide them opportunity to be a permanent employee.

Reviewing the compensation and benefits packages

The current structure of compensation and benefits packages of EBL should be revised as well as a clear career path should be mentioned both for contractual and permanent employees in order to eliminate the uncertainty regarding career advancement opportunity in EBL. For this purpose, in the year 2009, EBL is going to conduct a salary survey among all the employees and based on the recommendations of the survey salary structure would be renewed.

Practicing fairness in distributing job responsibilities

Fairness in distributing the job among the employees should be strictly maintained. Functional designation and the grade of an employee should be allocated based on the previous experience and professional training in the relevant fields and the educational level of an employee.

Reducing rigidity regarding employee loan facilities

Rigidity regarding the loan facilities (HBL & Car Loan) of EBL may be done somewhat flexible. Eligibility criteria to get the loan should be comfortable for the employees.

Providing enough freedom and authority to perform the job

Enough freedom and authority with proper direction from the immediate supervisor or line manager are needed to perform the job effectively as well as efficiently. So, EBL should properly ensure the above issue.

Initiating flexibility in working hour Flexible working hours and company policy should be initiated in order to reduce frequent employee turnover and implement effective retention management strategy in EBL.