Accra, March 25, GNA - Central Bank Governor, Kwesi B. Ammisah-Arthur, on Thursday said employee engagement was key to business success in the competitive global environment.

In a speech read for him at the opening of the fifth biennial conference of Alliance of African Institutes of Bankers (AAIOB) in Accra, Mr Ammisah-Arthur said engagement had the potential to affect employee retention, productivity and loyalty.

Employee engagement refers to the extent to which employees commit to something or someone in their institutions, how hard they work and how long they stay as a result of that commitment.

The Governor said the most important driver of employee engagement was connection between an employee's job and organisation strategy, including understanding how important the job was to the firm's success. "In fact, employees with the highest levels of commitment perform 20 per cent better and are 87 per cent less likely to leave the organisation, which indicates that engagement was linked to organisation performance," he said.

Mr Ammisah-Arthur said the increased demand for work/life balance and the changing relationship between employers and employees were driving Human Resource professionals to understand the needs and want of employees and determine how to meet them.

Mr Owusu Hemeng, President of Chartered Institute of Bankers, said no economy could chart a sustainable growth path without trained, competent and honest bankers in charge of its functioning financial system. This is because the quality of services rendered in the banking industry depended on the pool of multi-skilled professional bankers available to the industry.

The AAIOB has among its objectives to create and promote dialogue and exposure for Chief Executives and top management of banks and financial institutions. It also seeks to coordinate and develop the banking profession on the African continent through its member organisations by promoting internally acceptable professional standards of competence and conduct. 25 March 10