FACTORS AFFECTING EMPLOYEE RETENTION IN PRIVATE SECTOR BANKS IN BADULLA DISTRICT

Abstract

This research study provides a comprehensive understanding of the study on factors affecting employee retention in private sector banks in Badulla district in Sri Lanka. Data were collected through a well-structured questionnaire from one hundred fifteen selected private banks employees. This study has used univariate (descriptive), bivariate (correlation) and multivariate (regression) to achieve the objectives. Employee retention is critical for organization success, particular in the banking sector, where skilled and experienced staff directly impact service quality and customer satisfaction. The research focuses on variable, compensation, performance appraisal, training and development, work environment (independent variable) and employee retention (depended variable). The findings indicate that while some factors have a significant positive relationship with employee retention, others show weak or no significant impact. This study provides insight$ttat can- assist bank management in developing strategies to retain talent and reduce tumover in $he competitive banking sector. - ::' Overall, this research contributes to the existing body of knorirledge by examining the impact of compensation, performance appraisal, training and development, work environment on employee retention. Keywords: compensation, performance appraisal, training and development and work environment, employee retention.