The purpose of this study was to assess employee retention mechanisms and the benefits inrnCommercial Bank of Ethiopia and assessing employee retention strategies beingrnimplementing in CBE, exploring contribution of employee retention for organizationalrnsuccess, assessing employeesâ€™ satisfaction with the retention strategy of CBE, exploringrnfactors that affect the employee retention strategy, identifying solutions to further improvernthe retention strategy. A descriptive survey design was used and a purposive sample of twornrespondent groups was involved. Interview questions conducted for officials and experts ofrnhuman resource management of Commercial Bank of Ethiopia and questionnaires werernfilled by employees of CBE. The purpose of the interviewing of the first respondent grouprnwas to discover what retention strategies are being practiced at commercial Bank of Ethiopiarnand its contribution to achieve organizational goals and other related issues as they arernresponsible for designing and implementing the retention strategies. Questionnaire filled byrnemployees of Commercial Bank of Ethiopia to learn how the retention strategies arerndesigned and implemented, its role in achieving organizational goals and employeesrnsatisfaction with the retention strategy. The result shows that there is a well-designedrnemployee retention strategy in Commercial Bank of Ethiopia which made CBE successful inrnmeeting its objectives. More than seventy percent of the participants were satisfied with thernoverall employee retention strategy of their organization. However, both employees andrnofficials of CBE still believe that there are some retention factors that affect employees onrnwhich CBE has to work. Both respondent groups believed that there is a direct relationshiprnbetween employee retention and organizational success and having effective employeernretention strategies is vital for the success of the organization