Job retention factors, perceived career mobility and organisational commitment in the South African Financial Sector.

Abstract

This study explores job retention factors, perceived career mobility and organisational commitment among early career employees. Participants were professional auditors, accountants and financial staff (N = 82) in the finance industry in South Africa (57% = females, 70% White, age range between 17 and 29 years). They completed a career mobility survey and an organisational commitment measure. Data were analysed to identify key retention factors and relate employee demographics to their perceptions of career mobility and organisational commitment. The results suggest that older employees perceived the cost of leaving to influence their career mobility and organisational commitment. Younger Black employees regarded career advancement important for their career mobility and organisational commitment. Talent retention strategies for professional staff members in the financial sector should take into account their need for intra-organisational career mobility, work–life balance, knowledge and skills utilisation and competitive compensation.