IMPACT OF HUMAN RESOURCE MANAGEMENT PRACTICES ON EMPLOYEE RETENTION IN MCB BANK KARACHI

Abstract

Purpose The aim of this study is to determine the “Impact of Human Resource Management Practices on Employee Retention in MCB Bank Pakistan”. Fundamentally Human Resource Management Practices are considered as significant contributor towards improving organizational performance. The effectiveness of HRM practices play an integral part to retain employees with theirjob in the organization. i i Methodology & Design The nature of the research study is descriptive which is based on quantitative data. Quantitative data was gathered through questionnaire, floated across 300 respondents as sample size in head office of MCB bank. In order to analyze the data collected by the Regression Analysis and Pearson Correlation were respondents, statistical tools such as applied. Practical Implications: The implication of this research shows finding/result that are findings will help the organization to understand the effects of current HRM practices and determine weaknesses in order to take corrective actions to overcome those flaws and Not only amend to necessary changes but also how organization can retain its employees and effectiveness of HRM practices. Meanwhile the study organizations relating to the banking sector. based on the analysis. The errors. can also benefit other to ensure Findings The research study has stated that there is positive significant relationship of training and ppraisal and career growth on Employee Retention in MCB development, performance Bank Head Office. Limitations The research is limited to banking industry. A small sample of 300 people were selected due to limited time and resources It might be possible that employees of bank have not given sincere feedback due to their busy schedule. Recommendations ' On the basis of the analysis and the results here are some recommendations to further improve the impact form practices in MCB Bank Head Office, Karachi: MCB Bank, Head Office Karachi should modify and adjust the existing performance appraisal system and pay more attention towards the transparency of the system. There is a need of continuous check and balance to ensure that performance appraisals are conducted after a certain period oftime. The performance appraisal method ofthe organization should be based on quantifiable results and objectives. Promotions should be given on the basis of merit. HRM practices implemented should be updated and analyzed time to time. In order to motivate and retain employees, a good managerial support system should be provided by the top management of the organization.