This study seeks to investigate the impact of various elements like ROI,knowledge management and competitive advantage in the design and the implementation of HR policies to curb attrition at Lloyds TSB.At the end of the study,a proposed process cenetered design,tools and implementation procedure will be recommended which can be used for the bank.The Lloyds TSB Bank was founded in 1735 and has since taken over a large share of the retail banking sector in UK. (Lloyds TSB Official Website). In recent times, it attrition levels have risen in the first year of an employee’s tenure. This needs to be looked into for the bank to increase its customer service effectiveness and to fill its vacancy of 150 people for its Glasgow call center. This research draws its inspiration from the consideration of the research that the organization’s people are the most valued asset of the firm and thus, knowledge being the primary commodity of the workforce would be the most important area to be enhanced.The research design has been based on gathering, interpretation and appropriate presentation of the facts. The definition of the research areas is supported by the fact that the data needs to be customized in order to suit and have context to the specific area of operation and improving efficiency. Owing to the various set parameters, it is imperative to use a research design that will help garner various perspectives.In order to gain a deeper understanding and assure the benefits of this research, we decided to rely on both interviews (qualitative research) and questionnaires (quantitative research). Around a total of 63 employees were taken as samples. They can be classified into 3 categories
The questionnaire designed for the quantitative research was based on the feedback received from the exploratory research and the literature review conducted earlier. This was to determine the core problems of the current systems, future expectations from the system, risk involved in the implementation, potential benefits and key evaluation factors for selection. The questionnaire also contained some open ended questions as well to get the general feedback and comments. The line managers were also acquainted with the fact that the results of the questionnaire would be kept confidential and no where there names would be used.
In this chapter we will be discussing the results for the qualitative and the quantitative research conducted with the different stakeholders of the bank to get their opinion on the strategic position of the bank and its future expansion plans. We will also be discussing the initiatives that have been taken by the management to streamline the IT operations with the bank’s expansion strategy