Sales Attrition Analysis using Sales of Product Life Cycle Framework: A Case Study in a Financial Institution
DOI:
https://doi.org/10.24256/kharaj.v7i4.7010Keywords:
Attrition, Product Life Cycle, Psychometric, SalesAbstract
Employee attrition is a common issue for businesses that needs to be mitigated. This study aimed to determine the sales attrition causes in Bank Y at different life cycle stages and provide recommendations to reduce the attrition. A qualitative method with a case study approach was applied in this research. Data was collected using interviews, psychometric tests, and from internal documents. Following descriptive and psychometric analyses, the causes of sales attrition in stages 1, 2, and 3 were personality reasons, inability to meet the target, and not receiving a promotion, respectively. To resolve these issues, we proposed that Bank Y conduct profiling during the hiring process and work, train the new hires, and transform the KPIs and incentives systems based on the sales staff profile. This study provides practical strategies and valuable information for human resource management to reduce employee attrition.
References
Alduayj, S. S., & Rajpoot, K. (2018). Predicting employee attrition using machine learning. 2018 International Conference on Innovations in Information Technology (Iit), 93–98.
Birkeland, S. A., Manson, T. M., Kisamore, J. L., Brannick, M. T., & Smith, M. A. (2006). A meta‐analytic investigation of job applicant faking on personality measures. International Journal of Selection and Assessment, 14(4), 317–335.
Bolander, W., Chaker, N. N., Pappas, A., & Bradbury, D. R. (2021). Operationalizing salesperson performance with secondary data: aligning practice, scholarship, and theory. Journal of the Academy of Marketing Science, 49, 462–481. https://doi.org/https://doi.org/10.1007/s11747-020-00752-0
Čiarnienė, R., Kumpikaitė, V., & Vienažindienė, M. (2010). Expectations and job satisfaction: Theoretical and empirical approach. The 6th International Scientific Conference “Business and Management 2010, 978–984.
Cox, W. E. (1967). Product life cycles as marketing models. The Journal of Business, 40(4), 375–384.
DeCarlo, T. E., & Lam, S. K. (2016). Identifying effective hunters and farmers in the salesforce: a dispositional–situational framework. Journal of the Academy of Marketing Science, 44, 415–439. https://doi.org/https://doi.org/10.1007/s11747-015-0425-x
Faster Capital. (2024). Leveraging Data and Analytics to Identify Attrition Patterns. https://fastercapital.com/topics/leveraging-data-and-analytics-to-identify-attrition-patterns.html
Fekete, R. S. (2024). How the DISC assessment tool builds and develops relationships for sales professionals. In Transformational Sales Leadership (pp. 31–52). Routledge.
Frye, A., Boomhower, C., Smith, M., Vitovsky, L., & Fabricant, S. (2018). Employee attrition: what makes an employee quit? SMU Data Science Review, 1(1), 9. https://scholar.smu.edu/datasciencereview/vol1/iss1/9
Hakimovich, T. M. (2024). The System Of Key Performance Indicators As A Tool Improvements Management Of The Organization. Gospodarka i Innowacje., 47, 353–358.
Irabor, I. E., & Okolie, U. C. (2019). A review of employees’ job satisfaction and its affect on their retention. Annals of Spiru Haret University. Economic Series, 19(2), 93–114.
Kelchtermans, G. (2017). ‘Should I stay or should I go?’: Unpacking teacher attrition/retention as an educational issue. Teachers and Teaching, 23(8), 961–977. https://doi.org/https://doi.org/10.1080/13540602.2017.1379793
Kim, Y., & Ployhart, R. E. (2018). The strategic value of selection practices: antecedents and consequences of firm-level selection practice usage. Academy of Management Journal, 61(1), 46–66. https://www.jstor.org/stable/26528844
Lamramot, T. H., Hadiana, A. I., & Santikarama, I. (2022). Sistem Prediksi Awal Terhadap Atrisi Karyawan Menggunakan Algoritma C4. Informatics and Digital Expert (INDEX), 4(1), 18–24. https://doi.org/https://doi.org/10.36423/index.v4i1.882
Márquez-Hermosillo, A., Rodríguez, L. F., Salazar-Lugo, G., & Borrego, G. (2023). Employee profile and labor turnover in outsourcing companies: A data mining approach. Ingeniería, Investigación y Tecnología, 24(4). https://doi.org/10.22201/fi.25940732e.2023.24.4.031
Negi, G. (2013). Employee attrition: Inevitable yet manageable. International Monthly Refereed Journal of Research In Management & Technology, 2(1).
Okeke, N. I., Okaforcha, C., & Ekwesianya, A. (2019). Attrition and strategies for teacher retention in secondary schools in Anambra State. Global Journal of Education, Humanities & Management Sciences, 1(1).
Peasley, M. C., & Hochstein, B. (2024). The early-tenure salesperson: sales effort and sales growth during the ramp-up period. Journal of Personal Selling & Sales Management, 44(3), 219–236. https://doi.org/https://doi.org/10.1080/08853134.2024.2316383
Peng, B. (2022). Statistical analysis of employee retention. International Conference on Statistics, Applied Mathematics, and Computing Science (CSAMCS 2021), 12163, 7–15.
Raza, A., Munir, K., Almutairi, M., Younas, F., & Fareed, M. M. S. (2022). Predicting employee attrition using machine learning approaches. Applied Sciences, 12(13), 6424. https://doi.org/https://doi.org/10.3390/app12136424
Singh, K., & Singh, R. (2019). A study on Employeee Attrition: Effects and Causes. International Journal of Research in Engineering, Science and Management, 2(8), 2581–5792.
Sinha, V., Abraham, A., Bhaskarna, B., Xavier, K., & Kariat, K. (2014). Role efficacy: Studying the impact on employee engagement, employee motivation and attrition. International Journal of Human Capital and Information Technology Professionals (IJHCITP), 5(4), 35–54. https://doi.org/10.4018/ijhcitp.2014100103
Smither, L. (2003). Managing employee life cycles to improve labor retention. Leadership and Management in Engineering, 3(1), 19–23. https://doi.org/https://doi.org/10.1061/(ASCE)1532-6748(2003)3:1(19)
So, Y.-J., Lee, J.-Y., Choi, Y.-J., Lee, W.-S., Cho, A.-J., Youn, M.-K., Kwon, L.-S., & Choi, E.-M. (2020). Customer satisfaction management and service quality according to the DISC behavior type. Journal of Distribution Science, 18(12), 79–90. https://doi.org/http://dx.doi.org/10.15722/jds.18.12.202012.79
Van De Ven, M., Lara Machado, P., Athanasopoulou, A., Aysolmaz, B., & Turetken, O. (2023). Key performance indicators for business models: a systematic review and catalog. Information Systems and E-Business Management, 21(3), 753–794. https://doi.org/https://doi.org/10.1007/s10257-023-00650-2
Vignesh, S. G., Sarojini, V., & Vetrivel, S. (2018). Employee attrition and employee retention-challenges & suggestions. International Conference On Economic Transformation with Inclusive Growth.
Wai, L. C., Isa, A. M. M., Bhandari, P., Senathirajah, A., Haque, R., Devasia, S. N., Ramasamy, G., Krishnasamy, H. N., & Al-Hunaiyyan, A. (2024). Factors influencing job satisfaction to ensure sustainable growth amongst family-owned organizations in Malaysia. Kurdish Studies, 12(1), 3144–3173. https://kurdishstudies.net/menu-script/index.php/KS/article/view/1608
Mujahidin, Rahmadani, N., & Putri, Q. A. R. (2024). Analysis of the Influence of Religiosity Values In Reducing Consumptive Behavior in Indonesian Muslim Consumers. Amwaluna: Jurnal Ekonomi dan Keuangan Syariah, 8(2), 253-274.
Wulandari, S., Irfan, A., Zakaria, N. B., & Mujahidin. (2024). Survey Study on Fraud Prevention Disclosure Measurement at State Islamic Universities in Indonesia. IQTISHODUNA: Jurnal Ekonomi Islam, 13(1), 327–348. https://doi.org/10.54471/iqtishoduna.v13i1.2305
Sapsuha, M. U., Alwi, Z., Sakka, A. R., & Al-Ayyubi, M. S. (2024). Review of Gold Trading Practices on Credit (non-Cash) Based on Hadith. Al-Kharaj: Journal of Islamic Economic and Business, 6(3).
Majid, N. H. A., Omar, A. M., & Busry, L. H., Mujahidin Reviving Waqf In Higher Education Institutions: A Comparative Review Of Selected Countries. European Proceedings of Social and Behavioural Sciences.
Ishak, I., Putri, Q. A. R., & Sarijuddin, P. (2024). Halal Product Assurance at Traditional Markets in Luwu Raya Based on Halal Supply Chain Traceability. Amwaluna: Jurnal Ekonomi dan Keuangan Syariah, 8(2), 224-240.
K, A. ., Astuti, A. R. T. ., & ., Mujahidin. (2024). The Impact of Word of Mouth and Customer Satisfaction on Purchase Decisions: The Role of Maslahah as an Intervening Variable in the Cosmetic Products Industry in Indonesia. Journal of Ecohumanism, 3(7), 1525–1540. https://doi.org/10.62754/joe.v3i7.4307
Arno, A., & Mujahidin, M. (2024). Enhancing Zakat Management: The Role of Monitoring and Evaluation in the Amil Zakat Agency. Jurnal Economia, 20(3), 397-418. doi:https://doi.org/10.21831/economia.v20i3.53521
Fiqran, M., Mujahidin, M., Bakri, A. N., & Abdulrahman, A. J. A. (2024). Motivation for Waqf in Millennials and Generation Z: Highlighting Religiosity, Literacy and Accessibility. IKONOMIKA, 9(2), 309-332.
Putri, Q. A. R., Fasiha, F., & Rasbi, M. (2024). Affiliate marketing and intention to adopt mudarabah: The mediating role of trust in Islamic financial decision-making. JEMA: Jurnal Ilmiah Bidang Akuntansi Dan Manajemen, 21(2), 337–362. https://doi.org/10.31106/jema.v21i2.23381
Dayforce. (2021, June 15). Here’s What Your Turnover and Retention Rates Should Look Like. SPIE. https://www.dayforce.com/blog/turnover-and-retention-rates-benchmark
Al-Tamimi, R. (2023, July 24). Statistical analysis of employee retention. SPIE. https://www.elevatus.io/blog/employee-attrition-comprehensive-guide/
Downloads
Published
How to Cite
Issue
Section
Citation Check
License
Copyright (c) 2025 Anastasia Sorta Maria, Albert Surya Wanasida
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution-ShareAlike 4.0 International License. In line with the license, authors are allowed to share and adapt the material. In addition, the material must be given appropriate credit, provided with a link to the license, and indicated if changes were made. If authors remix, transform or build upon the material, authors must distribute their contributions under the same license as the original.
