Author(s): Jason Abate, Thomas Schaefer, Theresa Pavone
High employee turnover rates are problematic in the retail banking industry because turnover increases the risk of costly regulatory compliance mistakes. The factors that predict turnover in this industry are not well understood, however. The purpose of this correlational study was to examine the relationship between the independent variables of job satisfaction, job burnout, time on the job, generational identity and the dependent variable of turnover intention for retail banking employees in the United States. A random sample of 100 individuals from the banking industry responded to an online survey that combined elements of a job satisfaction survey by Babin & Boles, a turnover intention survey by Boshoff & Allen and the Maslach Burnout Inventory. Results of the multiple linear regression analysis suggested statistically significant (p<0.001) relationships between job burnout and turnover intention ( =0.297) and between job satisfaction and turnover intention ( =0.683). These findings are congruent with research that shows that satisfied employees report less job burnout and are more likely to remain in their job.