KCB loses 861 workers in banking’s year of turmoil - 3 months ago, 19 Nov 05:59

By: Patrick Alushula

Kenya’s largest bank by assets KCB #ticker:KCB last year suffered the highest staff attrition rate in five years having lost 861 employees or nearly four times the previous year’s exits, a newly released report says.

KCB says in its latest sustainability report, covering 12 months to December 2017, that staff attrition rate hit 10 per cent up from the previous year’s six percent despite employee satisfaction rate remaining flat at 85 percent for the second year in a row.

KCB hired 144 new employees, or less than a fifth of the number that left, reducing the bank’s total headcount to 6,483 -- the lowest in four years.

Last year was one of the banking sector workers’ most tumultuous when the industry shed a total of 2,792 jobs, according to the Central Bank of Kenya.

KCB's exits deepened with the Sh2 billion early retirement programme that sent home 316 employees.

This restructuring has, however, paid ...
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Category: topnews news business


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