Bank of America: Improving Turnover

Employee Turnover can be a problem for many banks, but when you have 188,000 employees and your turnover rate reaches 48 percent, the situation takes on significant proportions.

That was the case at Bank of America when it set out in 2001 to improve employee satisfaction and retention with an ongoing corporatewide annual integrated recognition program consisting of several key programs. (See box below.) Its first step was to create a customized Web site portal with extensive help from

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