Author(s): Shweta Bagdi and Sonal Sidana
Opportunities for career development are the numerous tools, initiatives, and pursuits that businesses offer their staff members to help them advance professionally. These possibilities may include training courses, coaching or mentoring, job rotation or shadowing, leadership development courses, and access to professional organizations or networking groups. Employees should take advantage of career development chances to learn new things that will aid them in their current positions and position them for future career prospects inside the company or elsewhere. The goal of this study is to investigate the relationship between work environment, monthly income, and attrition in the banking sector, with the aim of identifying the factors that impact employee retention and turnover. To achieve this goal, we will conduct a comprehensive analysis of data from various sources, including surveys and interviews with bank employees. Our analysis will focus on determining the key drivers of attrition and examining the ways in which work environment and monthly income affect employees' decisions to continue or leave their current jobs. Through this investigation, we aim to provide valuable insights to banks and policymakers to help them create effective strategies to reduce attrition and retain top talent in the industry. For sample data, A structured questionnaires was prepared for retail banking employees. Sample data of 50 respondents was collected through both online and offline random sampling technique. The findings of the study will be helpful to provide banks and policymakers with useful ideas on how to enhance working conditions and compensation packages to lower turnover and retain top talent in the banking industry. We will pinpoint the critical elements that affect employee retention and turnover through our in-depth analysis of the relationship between the workplace, monthly income, and attrition. We want to assist banks and policymakers in developing effective policies that improve working conditions and pay scales, thereby lowering attrition and helping the industry to retain its top personnel by offering insightful information about the dynamics of attrition in the banking sector.