A Case study on improving employee retention in a trading solution provider company

Abstract

The most important and valuable factor in a high labor intensive industry is the labour itself. The talent labour force immensely contributes to increasing the productivity, customer satisfaction, and consistency of smooth operation of an organization. It is known to be the most disturbing factor that should be addressed in the software industry, which is the high labour turnover. Software organizations mostly deal with knowledge worker who is considered as above average brainy people. The contribution that each individual has towards the organization will be comparatively high. Therefore losing an employee of such capacity will definitely impact on the organization in short-term and as well as in the long run depending on the left person’s capacity. Moreover, the cost that the company has to incur in training a new individual to the same capacity will be very high as it will take months or maybe years. This had been carried out in one of the leading software organizations in the Sri Lankan context as a case study. The company currently accommodates around 180 employees and distributed in seven departments. The domain it operates is the capital market which requires people with expert knowledge as it possesses complex trading instruments. The said organization is currently facing an employee turnover issue. The Hypothesis and the Conceptual Framework has been developed based on the Literature Review and the Secondary Data obtained by the company. A questionnaire consisting of 26 questions relating to Dependent and Independent Variables in the Conceptual Framework had been distributed among the selected sample in an unbiased way according to the Sample Calculation guideline. Based on the feedback, critical analysis was carried out using SPSS Software and Statistics. Demographic Analysis, Statistical Analysis of feedback of the Questionnaire and Core relational Analysis between Dependent and Independent Variables were carried out. According to the findings of the analysis, it had been found out that remuneration package, career development and the working environment can make a positive impact to decide to retain with the employer or not. The researcher had given recommendations to the company based on the findings of this study. In addition, further study had been suggested by the researcher.