Solution to improve sales performance of thrid party sales agency channel in HSBC bank vietnam

UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business TRẦN CAO MAI TRÂM SOLUTION TO IMPROVE SALES PERFORMANCE OF THRID-PARTY SALES AGENCY CHANNEL IN HSBC BANK VIETNAM MASTER OF BUSINESS ADMINISTRATION Ho Chi Minh City – Year 2019 UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business Trần Cao Mai Trâm SOLUTION TO IMPROVE SALES PERFORMANCE OF THRID-PARTY SALES AGENCY CHANNEL IN HSBC BANK VIETNAM MASTER OF BUSINESS ADMINISTRATION SUPERVISOR: Dr Lê Thị Thanh Xuân Ho Chi Minh City – Year 2019 TABLE OF CONTENTS LIST OF FIGURES LIST OF TABLES EXCUTIVE SUMARY ACKNOWLEGEMENT CHAPTER 1: INTRODUCTION 1.1 HSBC Group overview: 1.2 HSBC Vietnam background & organization structures: 1.3 Overview of third-party company – MOCAP Vietnam Joint Stock Company: 11 CHAPTER 2: PROBLEM ANALYSIS 13 2.1 Symptoms of company: 13 2.1.1 Background of symptoms: 13 2.1.2 Symptoms analysis: 14 2.2 Problem analysis: 19 2.2.1 Potential problems 1: Ineffective Project Organization Structures & operational issues 19 2.2.2 Potential problem 2: Wrong customer segments touching 22 2.2.3 Potential Problem 3: Poor Sales-forces Capacity 23 2.3 Central problem validation and consequences: 26 2.3.1 Central problem validation: 26 2.3.2 Consequences of central problem: 29 CHAPTER 3: CAUSE VALIDATION 32 3.1 Potential causes: 32 3.1.1 High-staff turnover rate: 32 3.1.2 Lack of salesforces training for agent: 33 3.1.3 The shortage of headcount (sales forces): 33 34 3.2 Main Cause Validation: .34 3.2.1 High staff turnover rate in TPSA Channel: 34 3.2.2 Shortage in Sales agents of TPSA channel: 36 3.2.3 Lack of salesforce training for TPSA agent: 37 CHAPTER 4: ALTERNATIVE SOLUTION & ACTION PLAN 40 4.1 Alternative Solution: 40 4.1.1 Alternative Solution 1: Supporting fees on incremental headcount increase 40 4.1.2 Alternative Solution 2: Developing training program for TPSA agents: 42 4.2 Solution Selected: 43 4.3 Action Plan: 44 CONCLUSION 49 CHAPTER 5: SUPPORTED INFORMATION .50 5.1 Summary of methodology conducted: 50 5.2 Transcription: .50 REFERENCE 60 LIST OF FIGURES Figure 1: HSBC Vietnam Organization structure Figure 2: Percentage of contribution of RBWM Sales Channel Figure 3: Percentage of contribution of RBWM Sales Channel in the last years Figure 4: Percentage of contribution of TPSA channel in ASIA markets Figure 5: HSBC – TPSA project organization chart Figure 6: TPSA channel – Credit Card Application Handling Figure 7: TPSA sales agents resources in 2018 Figure 8: Initial causes and potential problem Figure 9: Initial - Causes and effect diagram Figure 10: Productivity break down by sales agent vintages Figure 11: TPSA sales agents resources in 2018 Figure 12: Final – Cause and effect diagram Figure 13: Alternative solution – Human resources planning LIST OF TABLES Table 1: HSBC Bank – RBWM Sales Performance in 2018 Table 2: HSBC Bank – RBWM Sales Performance Contribution in the last years Table 3: Approval rate of HSBC Credit Card by Channels Table 4: Sales Performance plan of HSBC RBWM in 2019 Table 5: Human resource recruitment cost Table 6: Alternative solution 2– Action plan Table 7: Training Course – Training Agenda EXCUTIVE SUMARY As one of market leader in Credit Card selling in Vietnam financial market, HSBC Banks issues more than 75,000 cards into market as of December 2018 Giving the fact that, Vietnam financial market is potential and promise market for banking & financial industry with golden young population and middle-income With the ambitious accumulate the largest market share, HSBC operated TPSA channel as supported sales channels (besides HSBC in-house sales force) to capture new to banks customer in major city like Hochiminh city Although, recently TPSA channel gain sales performance developed year on year, it’s not achieved sales expectation (around 10% contributed to RWBM total sales volumes), which was set by HSBC’ group when operated TPSA channel in Vietnam market The purpose of this thesis is evaluating the root causes leading under contribution of sales performance expected in TPSA channel to total sales volume of HSBC Banks in recent year Then find the best solution to implement in the next year to push-up sales performance of TPSA channel achieving the performance expectation of HSBC Group This thesis consists of main chapters: - Chapter 1: the introduction about HSBC Bank in Vietnam and overview of TPSA agency – Mocap Vietnam Joint Stock Company - Chapter 2: the description about the general of symptoms and identify the central problem leading to this symptom Recently, the symptom was after three years operated and experienced TPSA channel in Vietnam market, HSBC project can meet the percentages of contribution (10%) to RBWM sales volumes - Chapter 3: the validation of all causes leading to the central problem and evaluated which was the main causes leading to the central problems - Chapter 4: propose two potential alternative solutions for choosing the best solution to drawn out action plan for implementation After evaluating basing on the combination of primary and secondary data, in-depth interview and theory support, the key finding of theis shown the problem of HSBC project is poor sales capacity in TPSA channel Then, a list of these main causes collected via in-depth interview and literature review drawn out The shortages of sales agents in HSBC – TPSA project is the main causes leading to central problem (poor sales capacity) In current situation of HSBC project, the solution in supporting fee for each incremental headcount increase seems to good solution and applicable to help TPSA agency turn out shortage sales headcount in short-term Furthermore, this solution might help TPSA agency take the risk of investing in new sales forces and respond to the challenges of Vietnam market for sustainable growth in long-term business ACKNOWLEGEMENT I would like to show my gratefulness and special thanks to my supervisor – Dr Le Thi Thanh Xuan for all her continuous support, advices and instructions during the process of writing this thesis Without her advises, this master thesis cannot be completed Needless to say, her guidance and instructions helped me in all the time of writing thesis Then, I also would like to show my gratitude to my manager, my colleagues at HSBC Bank who gave me chance to conduct research and also thank you to their time spending on interviews with me to come up the result of thesis Lastly, I also send my sincere thankfulness to my parents and friends for their support and encouragement during the time which I took the master course CHAPTER 1: INTRODUCTION 1.1 HSBC Group overview: HSBC is one of international finance organization and banking biggest over the world HSBC serves for than 38 millions of customer via four multi-national business services such as: retail banking and wealth management, commercial banking, global banking and market, global private banking HSBC network covers over 66 countries and territories in Europe, Asia, the Middle East and Africa, North America and Latin America The name of HSBC is an acronym for The Hong Kong and Shanghai Banking Corporation Limited, the founding member of HSBC, which was constitutive in 1865, with the aim of financing the developing trade among India, China and Europe HSBC puts headquarter in London, United Kingdom Nowadays, HSBC has been considered one of the top organizations with branch network spread out all over the world which provides the service in finance and banking with high quality and security guarantee HSBC positions its brand through the message “The world's local bank” HSBC is headquartered in London, United Kingdom There are 12 main dates in history timeline of HSBC Group: – March – April 1865: HSBC established in Hong Kong and Shanghai It was the first bank owned by the local and operated based on the principles of Scottish banking – By 1875: HSBC appeared in seven countries throughout Europe, North America and Asia It financed the exportation activity from China, India, Philippines and Vietnam – By 1900: HSBC spread out the network into 16 countries to finance trade around the world The business was surrounding ingot, exchange and trading – 1910: HSBC broadened the variety of activities in Asia by providing loans to governments in the locals for projects of modernization and infrastructure – By the 1920s: Business in Asia began to accomplish again despite of inhibition caused by The First World War and trading in commodity especially rubber and tin increased rapidly – 1935: New head office was designed by architects Palmer and Turner, applied the popular decorative style of Art Deco – 1941: During the time of The Second World War, staff in Asia became war prisoners Only branches that ran in London, India and US remained in fully operated condition – 1950: HSBC played main role in reconstructing Hong Kong’s Economy after war ending by supporting for manufacturing and business – By the 1970s: HSBC widen its variety of activities in trading by acquiring Mercantile Bank and The Middle East British Bank – 1992: HSBC’s headquarters were moved to London after acquiring Marine Midland Bank in the US and UK – 1998: HSBC unified its brand and logo of hexagon to utilize in all branches – 2016: HSBC continued expanding business to growing areas HSBC Strategies: HSBC in one of the world’s leading international banks, with exceptional access to high- growth market and a strong balance sheet “We are uniquely placed to help customers around the world achieve their ambitions” (John Flint, HSBC Group Chief Executive) HSBC values: D-O-C is the core value of HSBC • D stand for Dependable • stand for Open – HSBC open to different ideas and cultures • C stand for Connected – HSBC connect to customers, communities, regulator and each other HSBC aim to building connections, being aware of external issues, collaborating across boundaries 1.2 HSBC Vietnam background & organization structures: In 1870, HSBC established the first office in Saigon, big city of Vietnam Until 1995, HSBC run into business a branch with full financing and banking service In 2005, HSBC opened another branch and a representative office in Hanoi and Can Tho Table 7: Training Course – Training Agenda Group Day Day Group Day Day Day Day Follow up action Day Group Group Day Day Follow up action Day Day Day Follow up action Course Name HSBC Overview Credit Card product feature Credit Card benefit (Home & Away, Rewards & mileage Installment, Platinum card exclusive privileges Credit Card Application HSBC relating Policy & Procedure (Complaint Handling, Consequence Management, Dormancy Control, PVC, Cross border Selling policy, end-to-end sales process) Do & Don’t Tele sales Assessment test on Credit Card Product feature Call Script & Card T & C (checklist) & Call Quality Group Role Play Review Credit Card Knowledge Make phone calls to existing TPSA agents and HSBC in-house Tele sales Global Standards & EDRAS CMS system Attach with mentor Mentor/ Coach monito trainee’s call Frequency provide feedback for improvement and ensure that trainees bring what they have learnt to life Need establish skills Objection handling skills Close Safe Role play to establish customers’ need and handle objection Assessment test on Credit Card Product feature & promotion Team leaders conduct real time monitoring and listen to trainee’s call Conduct 1:1 coaching Refresh training EDRAS Listen to own calls Best practice sharing and identify good examples (every day activity) Team leader help trainees identify what are their road blockers and trainees must come up with a new development plan in details 48 CONCLUSION This thesis has focused on finding the main problem causing under achievement of sales performance of TPSA channel in HSBC Bank Vietnam Thus, among potential problem lead to sales performance below expectation, the shortage in headcounts of sales agents in TPSA channel is proved as the key element Prioritize, HSBC take into consideration in supporting fee in each incremental headcount increase might help TPSA agency can achieve full sales force capacity The purpose of this thesis was pointed out clearly and inform the real issues that is occurring in HSBC project of TPSA channel Basing on evaluating pros and cons of proposed solutions, HSBC Bank will take action immediately according to action of the best solution Lastly, believing with the best and applicable solution and detail action plan which can help HSBC – TPSA channel turn-around the current situation for sustainable growth in the long-terms 49 Chapter 5: SUPPORTED INFORMATION 5.1 Summary of methodology conducted: In this thesis, two types of data: primary and secondary data were collected The purpose of combination two types of data was to identify and solve the central problem Firstly, secondary date was collected from some reliable sources such as: internal report, sales performances, internal policy and operation process Besides, some relevant online literatures, journal and economy books, researches, etc were used to strengthen the theory and conclusion when compared the resulted of the interviewees mentioned and the current situations in HSBC- TPSA channel Secondly, primary data was obtained in this thesis via conducting a qualitative research The main method in collecting qualitative data in this thesis was in-depth interview To give full-background, the researchers conducted two times of in-depth interview for respondent of internal HSBC and external HSBC (means TPSA company) to explore the potential problem and another interview is used to seek causes Each in-depth interview took around 30 minutes, questionnaire was designed as open-ended question to obtain full and valuable information Furthermore, in-depth interviews were conducted with two groups of respondents as below: • The first group: include representatives of HSBC Bank such as: Mr Sabbir Head of RBWM, Mr Phat- Vice-president of TPSA channel, Ms.- Ha HSBCTPSA Managers • The second group: include representatives of TPSA company (MOCAP VN) such as: Ms Lan- Project Managers, Ms Thao - Deputy of Project Managers, Mr Hung - Human resources mangers, Sales agents 5.2 Transcription: Transcript 1: Interviewer : Tran Cao Mai Tram Interviewee: Mr Sabbir – Head of RBWM HSBC Vietnam Interviewer: Good morning, Sir How are you today? Interviewee: I’m good Nothing much May I help you? 50 Interviewer: I would like to have a short interview with you Could you please give me around 20-25 minutes to talk? Interviewee: Yes Sure Pls, go ahead Interviewer: Today, I am going to conduct the interview with you about current issues with TPSA channel Firstly, I want to ask about HSBC’s strategies when using outsourcing services to acquire credit card in Vietnam market? Interviewee: HSBC Group decided to operate TPSA channel in Vietnam market with purpose to gain bet better access to targeted market and gain additional capacity to grow business, limitation in expanding internal sales forces Additionally, TPSA channel play as supporting channel to push up total sales volume of Retail Banking and Wealth Management of HSBC Vietnam, especially in term of Credit Cards Furthermore, HSBC Group have run very successful TPSA channel in ASIA market (such as: Singapore, Malaysia, Indonesia, India.) That the reason why, HSBC want to outsource HSBC product to the Third-party Sales agency in Vietnam market Interviewer: But actually, the sales performance of TPSA channel not achieved our expectation (10% contributed to total sales volumes of HSBC, in term of Credit Card) This problem occurs more than years when we started to operated TPSA channel in Vietnam market So, what you think about this problem? Interviewee: However, when operating in Vietnam since 2015, there are some challenges and difficulty with HSBC when utilize TPSA channel Because the impact of both sides TPSA channel and HSBC also As I think, TPSA channel need more time to learning and scale up business to achieve performance expectations Interviewer: Can you share about long-term strategy of HSBC in TPSA channel in Vietnam? Transcript 2: (Code 1A) Interviewer : Tran Cao Mai Tram Interviewee: Mr Phat – Vice President of Sales Management of in-house & TPSA channel Interviewer: Good afternoon, Sir How are you today? 51 Interviewee: I’m good Nothing much May I help you? Interviewer: I would like to have a short interview with you Could you please give me around 20-25 minutes to talk? Interviewee: Yes Sure Interviewer: Today, I am going to conduct the interview with you about current issues with TPSA channel, especially in organization structure of HSBC project Can you tell me about the end-to-end process in credit card handling, comparison between TPSA channel and HSBC in-house? Interviewee: For operational process of TPSA channel is similar with other in-house channels of HSBC in term of the process to approve and issued HSBC credit card TPSA is mainly in-charge in contacting customer to offer HSBC credit card and then fulfill & collect credit card applications and hand-over to HSBC for further processing in granting and issued card limit Interviewer: Do you think that organization structure of TPSA channel in HSBC project is one of reason leading to low sales performances? Interviewee: No I don’t think so Because when we compare the operation process between in-house channel and TPSA channel apply the same end-to-end process Furthermore, The scope of control in TPSA channel was so strictly and sufficiently, we combine the control of sites: TPSA agency and HSBC TPSA Management team This team is critical to ensure effective deployment of TPSA teams, agents training, sales and services quality monitoring, governance and control activities which alignment with updated regulatory requirements In fact, more than three years in operation auditing or management TPSA channel control and governances, so HSBC TPSA management gain strong skill set and excellent problem-solving skill, attention to detail and ability to work well under high complex environment such as TPSA model But with above knowledge and experiences, there is nil stuck or insufficient process in TPSA operations on daily work Interviewer: So, you think what is the main problem which caused TPSA channel cannot achieved 10% contribution in total RBWM sales volume? Interviewee: As I think the main problem is poor sale capacity, especially is the shortage of TPSA sales agents Actually, after 3-year operating, TPSA channel cannot 52 achieve more than 80 sales agents in HSBC project Hence, if TPSA still maintain poor capacity, it may cause not only huge impact on Sales volumes in HSBC project and but also the operating loss for TPSA company As low-cost provider, TPSA was offered low-price in each card acquisitions for HSBC, that the reason why TPSA company need maintain strong sales-force capabilities for maximizing sales capacities far away from operating loss Furthermore, when we can ultilize team size at around 80 sales agents, we can minimize the impact on business operation when having staff attrition Transcript 3: (Code 1B) Interviewer : Tran Cao Mai Tram Interviewee: Ms Ha – HSBC TPSA Manager Interviewer: Good afternoon, Sir How are you today? Interviewee: I’m good Nothing much May I help you? Interviewer: I would like to have a short interview with you Could you please give me around 20-25 minutes to talk? Interviewee: Yes Sure Interviewer: Today, I am going to conduct the interview with you about current issues with TPSA channel, especially in organization structure of HSBC project Can you tell me about the scope of control in TPSA- HSBC project? Interviewee: The scope of control of each TPSA team leader manage maximum 18 agents for effective observation and coaching conducted Interviewer: Do you see any insufficient control in operation process of project? Interviewee: No There is nil finding in potential operational risk or insufficient organization or control and governance in TPSA channel in recent four years relationship the turn-around time (means the length process when submit application to approve & issued credit card) is similar between TPSA channel and others sales channel in HSBC Vietnam 53 Interviewer: Can you share about the customer segment touching by TPSA channel, in compare with in-house channel? Do you think lack of customer database of TPSA agency which is one of causes leading to low sales performance in HSBC project? Interviewee: No I don’t think so Because, there is no difficulty with TPSA companies in customer segment database alight with HSBC targeted customers Due to the fact that, both TPSA companies have cooperated as outsourcing service for a lot of multinational companies and they have more experienced in Vietnam market Interviewer: So, you think what is the main problem which caused TPSA channel cannot achieve 10% contribution in total RBWM sales volume? Interviewee: Although we start operated TPSA channel since 2015, sales forces of TPSA channel have not achieved 70 sales agents as we expected due to impact of high-staff turnover rate, together with the difficulty in headcount optimizing, TPSA channel always have shortage sales agents in compare with resources plan due to high recruitment cost The average staff vintages of TPSA channel is months (including one-month probation), means that after sixth- month work for HSBC project, sales agents will leave the project Interviewer: So, what is key priority in your mind to leading up sales performance in TPSA channel Interviewee: In my opinion, the poor sales capacity and how to develop sales capabilities of TPSA channel is one of key element leading to push up sales performance of TPSA Interviewer: Do we have any action plan to scale up sale capacity, especially in solving the problem of shortage in sales agents headcount? Interviewee: Yes Recently, HSBC take into consideration about financial support to TPSA agency to scale up the number of sales agents to achieve more than 80 agents in the end of 2019 Interviewer: If we apply financial support to TPSA channel, should we concern about the comparision between cost per acquisition of in-house channel and TPSA channel? Interviewee: Even though, applying support fee for incremental headcount increases to TPSA agency, the cost per acquisition (services fee which HSBC must pay to TPSA agency per Credit Card approved) still lower than cost per card acquired by HSBC in54 house channel That the reason why, HSBC pay attention into increase full-capacity sales forces in TPSA channel in the next 12 months to achieve sales performance expectation Interviewer: HSBC want to maintain long-term relationship with TPSA agency for cooperate growth, HSBC gain more credit card acquisition in Vietnam market through TPSA channel Besides, HSBC expected to support TPSA company not only in financial capacity but also for resources capital for sustainable relationship Interviewer: Recently, we have any plan in looking for one more outsourcing agency in Vietnam market? Interviewee: Actually, HSBC and MOCAP VN have been strong relationship since 2015 until now In Vietnam market, there is still lack of famous and global outsourcing services company meet requirement of HSBC Group in Third-party sales agency, hence supporting & cooperating with MOCAP VN for long-term relationship is priority action in short term In recently, HSBC not think looking for new outsourcing agency due to some difficulties such as: complicated process for new onboarding, few outsourcing companies in Vietnam market meet requirement of HSBC Group 55 Data collection after in-depth interview from HSBC site: No Finding Question Code 1A Code 1B The scope of control and operational Operational process of TPSA channel is Sufficient scope of control Eeffective process in HSBC TPSA channel? similar with other in-house channels of observation and coaching conducted HSBC in term of the process to approve and issued HSBC credit card Can you share about the customer Not mention There is no difficulty with TPSA companies segment touching by TPSA channel, in in customer segment database alight with compare with in-house channel HSBC targeted customers What is the main problem which The main problem is poor sale capacity, TPSA channel always have trouuble with caused TPSA channel cannot achieved especially is the shortage of TPSA sales the shortage sales agents due to high 10% contribution in total RBWM sales agents recruitment cost volume? What is key priority in your mind to Scale up team size achieve full-capacity HSBC take into consideration about leading up sales performance in TPSA to not impact on business opeartions financial support to TPSA agency to scale channel when having staff attrition up the number of sales agents to achieve more than 80 agents in the end of 2019 56 Transcript 4: Focus Group with structured questionnaire Interviewer: Tran Cao Mai Tram Interviewee: TPSA Sales Agents current work for HSBC project Interview Guide : Part 1: Warm-up introduction Interviewer: Tran Cao Mai Tram Interviewer: Hi guys Interviewer: Today, I am going to conduct the interview with you about current issues with TPSA channel, to explore the reason why TPSA channel cannot achieve performance expectation of HSBC Group? I would like to have a short interview with you Could you please give me around 20-25 minutes to talk? Part 2: Main part with compulsory question as below: Group 1: TPSA Sales Ageny current work for HSBC project No Question What is your daily work ? What is customer data base comes from? How long have been working for HSBC project? How about your sales performance in recent months? What is your difficulty in achieve sales performance? Do you think you have to occur high/ unachievable sales target? 57 Data collection after focus group interview from TPSA agency site: No Finding Question Sales Agent Sales Agent Sales Agent Sales Agent What is your daily Call to customer for Call to customer for Selling HSBC Credit Offering HSBC Credit work ? offering HSBC creidt offering HSBC creidt Card via phone card via cold call to card card new to banks customers What is customer Company customer’s Company availabe Database provided by Customer’s referal and data base comes databsase database or selft- company company database from? genarted list How long have been More than months Around haft a years More than years More than 20 months Around 3-4 cards per The highest achievement More than 12 cards per month is cards per month month Lack of training working for HSBC project? How about your Just one or two sales performance in approved cards per recent months? month What is your I feel in-confident There is lack of I have to learn difficulty in achieve when advise customer frequency updated everything by themselves course for sales agent sales performance? due to some limitation session or training via observation how of my knowledge program for sales agent other agent communicate or product knowledge to improve sales skill 58 about banking with customer, together product with best practice sharing for experience agents Do you think you Sure It’s should be Yes Because we have to Actually, HSBC project It’s would be better if have to occur high/ balance target for new covers the target of the we have more sales unachievable sales joiner and experienced shortages sales agents of my colleagues decided agent to handle high target? staff to left project after 4-6 sales performance months, hence we have expectations high turn-over rate Most to cover their target Too much sales performance expectation while there are fewer sales agents 59 REFERENCE Jain RK, Natarajan RJSOAIJ Factors influencing the outsourcing decisions: a study of the banking sector in India 2011;4(3):294-322 DiRomualdo A, Gurbaxani V Strategic Intent for IT Outsourcing Sloan management review, 29 ZNo; 1998 De Quinn JBJSM Outsourcing innovation: the new engine of growth 2000 Zhu P The symptoms of ineffective team or organization Greenberg G Reasons Performance Management Fails and How to fix them 2015 Cargill G Six Reasons Why Sales Managers Fail 2012 Mantrala MK, Albers S, Gopalakrishna S, Joseph KJJoPS, Management S Introduction: Special issue on enhancing sales force productivity 2008;28(2):109-13 al De Marketing Concepts and Strategies, 4th edition 2000 Dash K Vietnam: HCM City Leads the Average Salary Rankings 2018 10 EBVN Reseaech Report, E-commerce Industry in Vietnam, 18th edition 2018 11 Chan C, editor B2B E-Commerce Stages of Growth: the strategic imperatives 37th Annual Hawaii International Conference on System Sciences, 2004 Proceedings of the; 2004: IEEE 12 Nolan Managing the Crisis in Data Processing”, Harvard Business Review, 1979:115 - 26 13 Warsi.S.I N Study on relationship betwwen organizational commitment and how it’s determined among private section employees 2009 14 S.M A Turnover: the real bottom line, Public and voluntory turnover in the workplace: a comparison of companies across industries 2000 15 Mabindisa V Impact of staff turnover on organizational effectiveness and employee performance at the Department of Home Affairs in the Eastern Cape Province 2014 16 Ahmed Z, Sabir, S., Khosa, M., Ahmad, I & Bilal, A.M Impact of Employee Turnover on Organisational Effectiveness in Tele Communication Sector of Pakistan IOSR Journal of Business and Management (IOSR-JBM).128-36 60 17 Stovel MB, N Voluntary turnover: Knowledge management-friend or foe? 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