Abstract:
This study investigates the turnover of young and fresh employees in the leasing industry in
Sri Lanka. Employee turnover has become a common phenomenon and it results in career
changes and job mobility. Nevertheless, every single organization will have to deal with the
turnover of employees.
However, the turnover of desirable employees may have a significant impact on the
organization, rather than the less productive ones. This research is based on the major factors
that influence job satisfaction and in turn will reflect on an employee‘s intention to quit or
not. Annual reports in the leasing industry show that the turnover ratio fluctuates from 8% to
25%.
The key factors to be considered are, work-family life balance, career development
opportunities, compensation and benefits, perceived supervisory support, employee
performance management and job security. Previous researchers have focused on western
countries aiming at all levels of employees.
This study conducted is based on 14 leasing companies with a sample of 116 young
employees. The qualitative research method was used where a questionnaire survey forms
were handed over to the participant‘s age between 22 and 32 to fill, using simple random and
snowball sampling technique. Correlations and regression tests were performed. The results
indicate that the turnover intentions on particular variables were more complex than
previously assumed. Main reasons for turnover intentions were the work-family life balance,
career development opportunities and perceived supervisory support.
Piecemeal investigations of this sector provide inadequate information; hence dearth of
information on the finance sector in Sri Lanka is a major weakness.
