2nd Student Symposium - 2015
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Item The Effect of Psychological Contract on Employee Retention(Department of Human Resource Management, Faculty of Commerce and Management Studies, University of Kelaniya, 2015) Weralupitiya, A.C.; Jayarathna, S.M.D.Y.Employee retention has been a major concern for organizations in this competitive job market because there are employment opportunities for talented professionals, the greater the demand for their services. In order to retain the best talents with the organization, strategies are aimed at satisfying employee’s needs. The problem remains how great the effect of each strategy on employee’s retention. The primary aim of this study is to assess the effect of psychological contract on employee retention in Ansell Lanka (Pvt) Ltd, Biyagama. Hence the objective of this research was to identify the effect of psychological contract on employee retention. The Independent Variable was psychological contract under the seven dimensions, namely stimulating job, work atmosphere, autonomy, salary, task description, intra organizational mobility, work life balance and job security and the Dependent Variable was employee retention. The reliability of the instruments was tested against the data. This study was engaged in hypothesis testing and it was co relational. Data was collected from each individual at Ansell lanka, Biyagama. The analysis was based on the information collected using a self-administered questionnaire. Data used for analysis were totally based on primary data which was collected using a questionnaire developed by the researcher. According to the results, there is an impact of psychological contract on employee retention and there is a relationship between psychological contract and employee retention which is significant. The solution to retention problems at the Ansell Lanka, Biyagama is to put more emphasis on work atmosphere and autonomy because according to the findings these dimensions were more correlated with the employee retention than other dimensionsItem Determinants of Retention of Psychological Contract of IT Professionals in Sri Lanka(Department of Human Resource Management, Faculty of Commerce and Management Studies, University of Kelaniya, 2015) Silva, S.A.I.; Weerasinghe, T.D.Job hopping of employees has become a tremendous issue in IT firms across the world. Literature reveals that the average period of an IT professional remains in a company is around two years. Further, Literature stated that this issue has arisen because many of the IT firms have failed to retain the psychological contract of IT professionals which is formed at the recruitment and the socialization stages successfully. Building a positive psychological contract at the recruitment stage is not enough to retain the talent in the current business environment. It is vital to retain the psychological contract. The purpose of this study was to identify the determinants of psychological contract retention in the domain of IT professionals in Sri Lanka. This is a cross sectional field study which was carried out among a sample of 80 IT professionals. Convenience sampling was applied to select the sample. A self-administered, standard questionnaire was used to collect data. Exploratory Factor Analysis (EFA) was performed to identify the determinants of psychological contract retention with the aid of SPSS. KMO statistics was used to determine the sampling adequacy while factor loading values and extraction sums of squared loadings (cumulative) values were used to draw the conclusion about significant determinants. The results of the current exploratory study revealed that work atmosphere is the most prominent factor which contributes to retain the psychological contract of IT professionals. Further, stimulating job, task description, autonomy, salary satisfaction were found to be significant determinants of psychological contract retention. Job security, intra-organizational mobility, and work life balance & career development were found to be insignificant in retaining the psychological contract of IT professionals in the Sri Lanka. Thus, it is recommended to pay a serious attention to create and maintain a proper work atmosphere through possible policies, procedures and systems in IT firms to retain a sound psychological contract within employees which is to be created at the beginning of once employment.Item Retaining Talent - An Investigation into High Employee Retention: A Case Study Based in Ceylon Biscuits Limited(Department of Human Resource Management, Faculty of Commerce and Management Studies, University of Kelaniya, 2015) De Sapukotana, J.D.S.; Welmilla, I.Reasons for employee retention remain same, even after dramatic changes that have shaken the job market. Because hiring an employee is only one matter, but keeping them is more crucial. Ceylon Biscuits Ltd maintains a high employee retention rate through the past decade which can be considered as a strategy rather than an outcome. The scope of this study is necessarily ambitious. It is an attempt to develop knowledge and conduct the research in a meaningful and practical way. The objective of this research is to identify the relationship between the selected factors and the high employee retention in Ceylon Biscuits Ltd, Sri Lanka. To achieve this objective, four hypotheses were developed and tested. Based on the Literature review, four influencing factors of employee retention (Job Satisfaction, Compensation and Rewards, Organizational Culture and Employee Engagement) were selected. The dependent variable of the study was employee retention. The research questions can be identified as the relationship between Employee Retention and Job satisfaction, the relationship between Employee Retention and Compensation, Rewards, the relationship between Employee Retention and Organizational culture, Employee Retention and Employee engagement. In order to gain the in depth knowledge required for the thesis, a case study methodology were utilized with Questionnaires within a specific discipline. The validity and reliability of the instruments were tested by using appropriate methods. The study is cross sectional and the primary data were collected by using random sampling method and sample size was 73 junior staff and executives who are working for 10 years or more in Ceylon Biscuits Ltd, Sri Lanka. To test the hypotheses, correlation analysis, simple regression analysis and multiple regression tests were performed. Finding of the study reveals that employee engagement is most influencing factor which caused employee retention which amounts to a Pearson Correlation of 0.82.