Impact of Training & Development and Supervisor Support on Employee Retention in Selected Private Banks in Sri Lanka: Moderating Role of Work Environment

Abstract

This research intended to examine the impact of training and development and supervisor support on employee retention in Sri Lankan private sector banks. Moreover, the current research also examines the moderating effect of the work environment on the association among training and development, supervisors support, and employees’ retention. Research on training and development and supervisor support and their effects such as employee satisfaction, commitment, and retention have infrequently been conducted in banking sector in Sri Lanka. Data were gathered on employees’ opinions about training and development and supervisor support and their effects by a structured questionnaire. Sample consisted of 150 executive level employees who are working in different departments of branches in three private sector banks in Sri Lanka. Multiple Regressions, Cronbach alpha, Pearson correlation coefficient and descriptive statistics were deployed for different analyzes of this research. The conclusions of the research exposed that training and development and supervisor support are significant predictors of employee retention. In the same way, the findings also exposed that the work environment moderated the association among training and development, supervisors support, and employees’ retention. Finally, the implications, limitations and recommendations for further research were discussed.