Factors Affecting to Employee Turnover Intention at OKAYA Lanka (Pvt.) Ltd., Sri Lanka

Abstract

Amount of the retain employees of an organization tells the success of that organization. If there is a high labor turnover, the particular organization could not have been able to achieve their objectives and goals. And also, this matter, high labor turnover will cause to loss their customers and eventually company will have to shut down. Certain studies show that among the resources of an organization, the only living asset and the most important resource is Human Resource. Some researchers had been shown that rather than spent money and time to hire new recruits and train them, it is better to prepare a plan to retain the existing employees. It is one of the best ways to the survival. In this research, the researcher tries to determine the factors that affecting to the labor turnover intention at OKAYA Lanka (Pvt.) Ltd. and at the same time, the researcher suggest some recommendations to enhance the employee retention and reduce employee turnover. This research followed a descriptive study method. The researcher targeted 100 employees as the sample group for this study included both temporary and permanent cadres at OKAYA Lanka (pvt,) ltd. The sample group represents 900 of population. The researcher used stratified random sampling technique. The sample which has been selected to this research has a diversity since the researcher selected the sample from all the cadres of the company. To complete this research, it has been collected both primary and secondary data. For the convenience of the reader, here the researcher used diagrams and tables to present the gathered data. As a result of this research, researcher found that remuneration is directly affect to the turnover intention at OKAYA Lanka and a better remuneration schedule will decrease employee turnover. This research reveals that poor working condition employee turnover at OKAYA Lanka. And the effort that OKAYA Lanka holds to provide opportunities for career progression and employee’s personal matters are also encouraging the turnover at OKAYA Lanka (Pvt.) Ltd. majority of employees consider about the working environment, employee security and environment of workplace.