The impact of recruitment strategy on employee retention at Nigerian government-owned finance development institution, bank of industry (BOI)

Abstract

Several years after the “war for talent” was coined, the war still rages on with more difficulties arising in recruiting and retaining qualified talents globally. It has been opined that retention begins right from effective recruitment strategies, hence the need to identify which recruitment strategies impact employee retention. The objectives of these research were to explore the themes of recruitment and retention and the relationship between both; to analyse how the recruitment strategy of the organization has evolved over the years (through questionnaires targeted at employees who had worked between the duration of one and thirty years), as well as to determine which recruitment strategies influence employee recruitment which is a new area of research and has not been fully explored. Further, from the organization’s perspective, the research investigated the most effective recruitment methods and factors that determined recruitment. In order to sufficiently and successfully achieve the aims and objective of this research, the author after thoughtful deliberation selected the qualitative method of research in which primary information was collected through semi-structured interview and qualitative questionnaire. The secondary data on the other hand was collected through journals, articles, reports, organization website as well as through text books. After careful analysis of research data, findings discovered that certain recruitment strategies influenced employee retention and these factors were identified accordingly. At the end of this research work, a number of recruitment factors not identified during literature review came to light, certain policies that defined recruitment in government-owned organizations which may be irrelevant to private owned organizations were identified and recommendations for future was provided.