In recent years there has been an growing appreciation of the value of human resources to
an organisation and that failing to retain staff can result in higher costs and reduced
Staff retention has become an increasingly important issue for employers in Ireland. The
very low unemployment rate and changing organisation structure has meant the labour
market is now considered a sellers’ market.
This thesis sets out to investigate staff retention in AIB Bank.
Secondary research was carried out to examine the cost of staff turnover, what can help
retention and how a retention policy can be put in place. The staffing structure, turnover
rates and retention practices in AIB were also looked at.
Primary research was carried out to investigate some of the causes of turnover in AIB
Bank. Other companies were also surveyed to benchmark AIB Bank and to examine
their retention policies.
Research indicated that employment trends have been changing in Ireland, with
increasing employment in the services sector. Employment in the financial sector has
also increased, and research indicated that AIB Bank has a problem with retaining bank
official staff. The cost of this turnover was established and also that there is no is no
formal retention policy in place. Some areas were highlighted that could be adding to the
retention problems. Various recommendations were made as to what improvements can be made to help improve retention. A framework for setting up a retention policy was also outlined.