64% of banking staff desire to leave sector – Survey

Ms Elsie Appau, Managing Director of Acreaty Ghana

A Human Resource Banking Survey, conducted by Acreaty Ghana reveals that 64 percent of staff is willing to leave the banking sector completely, while 51 percent are prepared to leave their current banks to other banks.

Acreaty Ghana is a Non-Governmental Organisation that mentors youth in career development.

The survey reveals that 79 percent of the staff finds their targets unrealistic and unsustainable.

The survey covered 1,230 staff of 14 banks with universal banking license in the country.

Their views were extracted on adaptability, change, career development, communication, corporate culture, employee development, compensation, job content, among others.

The methods used for the collection of data are in-house e-mail, social media communication, in-house notice or poster board communication.

The survey was administered for respondents from February 22 to May 3, 2018, and analysed for publication from July 14 to 30, 2018.

Ms Elsie Appau, the Managing Director of Acreaty Ghana, said the survey shows that 99 percent of the respondents knew their banks’ vision and mission but 34 per cent of them think the banks are not operating in line with their vision and mission.

On adaptation and change, the survey reveals that 85 percent of total respondents are happy with their current banks, which include Barclays Bank, Stanbic bank, Fidelity bank, GCB and GHL Bank.

Concerning compensation, the survey shows that 70 percent of respondents are not satisfied with their salaries and 46.2 percent would like their salaries increased above 20 percent.

Ms Appau said the survey reveals that there is a general opinion that people are working but do not feel part of their environment.

In her view, the Human Resource function needed to be strengthened through innovative ways to compensate staff to give of their best.

She said though the salaries were low, the survey reveals that the issue of salary is considered as not the main drive for employee satisfaction, but a clear plan, minimal bureaucratic systems and open communications.

Ms Appau stated that some of the challenges encountered in the survey were that some banks found it difficult integrating the computerized system of opinion survey.

“The success of a bank depends on its ability to attract, retain, motivate, develop and to continue to attract employees with the skills and experience to help the bank master challenges and make the most of opportunities,” she added.

She urged the banks to purchase the full copy of the report to utilise the recommendations for reforms.

Wing Commander Allotey, the Director of Human Resource for GLICO Ghana, said the survey focused on the banks to provide the necessary evidence for effective and efficient decisions, not only on human resource but also for strategic repositioning of the banking sector.

He said Acreaty decided to conduct the survey to help banks assess themselves on how the management of employees affected their productivity and how best to learn from competitors in improving employee satisfaction.

Mr Senyo Adjabeng, a Labour Expert advised companies, especially the banks, to make good use of data-based evidence in decision making.