Employee Loyalty in financial service company

Abstract

The purpose of this paper is to identify the factors that affect employee loyalty and the method or strategies that management brings to develop employee loyalty. The research focuses on what the financial services industry can do to retain, attract and engage employees in the current hyper-competitive environment. And provides the possibility of a strategic plan to encourage employee loyalty and believe that this study may help the company to decrease employee turnover costs, create a sense of empathy, perform professionally and get a positive outcome. The qualitative research method was used to collect the data from the sample group by conducted with 21 people from 3 groups: the employee who works more than 7 years, the employee who works 1-2 years, and the ex-employee in order to explore its linkage with a learning organization. Interview results were compared to the Motivation Theory. Research findings showed that the company doesn’t meet employee's goals and the relationship between the supervisors and employees is applied in the organization. This paper shows that the company needs employees that are more loyal employees and also represent the company in the best view that it helps the company have a good business reputation by using qualitative research methods and collecting data from employees and management from the sample organization.