Human Resource Management Practices and Turnover Intentions in Microfinance Banks in Nigeria

Abstract

The study was carried out to investigate the influence of human resource management practices on employee turnover intentions in microfinance banks in Nigeria.  The study employed a survey research design. Questionnaire was designed and administered on employees of selected microfinance banks who served as respondents. A response rate of 71% was recorded. Data collected in the study were analyzed with regression method of data analysis. The results of the analysis indicated that about 64% of variance in employee turnover intentions  in microfinance banks  was  attributable to compensation management in  the banks; about 47.7% of variance in employee turnover intentions  in microfinance banks was  attributable to training and development; about 61.3% of  variance in employee turnover intentions  in microfinance banks was  attributable to performance management; about 50,1% of  variance in employee turnover intentions  in microfinance banks was attributable to recruitment and selection practice; about 2.6% of  variance in employee turnover intentions  in microfinance banks was attributable to career development. It was recommended that microfinance banks reformulate motivating compensation management policies; do more in the area of training and development; reformulate their recruitment and selection policy; and that performance management be given a boost by microfinance banks.