Impact of Career Development Opportunities on Employee Retention Among Executives of Selected Apparel Firms in Sabaragamuwa Province of Sri Lanka

Abstract

This study attempts to identify the impact of Career Development Opportunities on Employee Retention among executives of selected apparel firms in Sabaragamuwa Province of Sri Lanka. Currently, the employees are interested in something more than the remuneration package. Concern on career development opportunities is high in most western countries. But when it comes to the Sri Lankan context, it was observed only few companies do follow this practice. To achieve the main aim, five hypotheses were developed and tested in a non-contrived setting. The study was cross-sectional in time and the sample size of this study was 152 executives by administering a structured questionnaire which consists of 29 statements with five point Likert scale. Random sampling method used for this study. The unit of analysis was at individual level and data collection was mainly based on electronic version mail using Google form. The data collected was analyzed using univariate and bivariate methods through SPSS 23. This study found that Career Development Opportunities has a significant impact on Employee Retention among executives of selected apparel firms in Sabaragamuwa Province of Sri Lanka and all hypotheses were accepted. Further, this study helps to fill the existing theoretical and practical gap and is helpful to the top management of organizations to understand the importance of Career Development Opportunities and Employee Retention.