Effects of retrenchment on employee morale. A Case of Steward Bank

Author

Mugwenhi, Rebecca Shumirai.

Title

Effects of retrenchment on employee morale. A Case of Steward Bank

Abstract

Retrenchments are now frequently used to boost organizational effectiveness and are becoming a common managerial tactic in organizations, although it's still uncertain whether they improve organizational efficiency. Retrenchment often aims to boost organizational performance by boosting productivity, reducing expenses, and boosting competitive advantage. This study aimed to examine the effects of retrenchment on Steward Bank workers' sense of well-being. Examining how retrenchment affects worker morale in terms of job satisfaction, performance, dedication to the workplace, and physical and mental health was the driving force for this study. A non-probability sampling method was used to choose the study's 60 respondents. In this investigation, stratified random sampling methods were used. The research used primary data sources. Data collecting methods included the use of questionnaires and interviews. The validity and reliability of the research instrument were confirmed by a pilot study. The information collected from the questionnaires was reorganized, coded, and analyzed. The data was presented using pie charts, tables, and bar graphs. The main conclusions of this study demonstrate that retrenched Steward Bank personnel suffered emotional, physical, and mental effects. Furthermore, I discovered that retrenchment has a higher success rate than a failure rate. Major findings from this study could not definitively state the effect of retrenchment on employee morale as respondents' perspectives on the issue varied. It is advised that retrenching organizations construct robust conveyance systems, support be given to retrenchment survivors, and over time create a favorable organizational culture based on research and literature results.

Date

December 2022

Publisher

BUSE

Keywords

Retrenchment,

Morale,

Steward Bank,

Supervisor

Mr. Chaparadza,