Impact of HRM Practices on Employee Turnover among Executive Employees in Banking Sector in Sri Lanka

Abstract

Human resource management is no longer a spectator but a game changer in a fastmoving environment. If this invaluable asset has been managed right, it will be ramping up the organization. It is important to keep in mind that managing Human Resources (HR) in a pathetically wrong way will be a “game over” to any organization. This paper particularly focuses on a buzz killer which is “employee turnover” and its association with HR practices. A theoretical and an empirical gap has been discovered by authors which is the way HR practices impact employee turnover among executive employees in the Sri Lankan banking sector. The data were collected from a selected sample of 357 executive level employees positioned within chosen private banks in Sri Lanka using a self-administered structured questionnaire. A simple random sampling method was used as a sampling technique. The data analyses include the univariate and bivariate analyses. Cautious analysis of gathered data represents the overarching conclusion of there is a significant relationship between employee turnover and HR practices. As supported by numerical evidence, it is congruent to state that HR practices steer the direction of employee turnover.