Impact of Total Rewards on Employee Turnover Intention in the Apparel Industry in ABC Company

Abstract

Human resource is the most important resource in any industry. As a result, retaining them in the workplace for an extended period would give numerous financial and nonfinancial benefits to their respective organization. However, several researchers and author observations have identified employee turnover as a major concern in the Sri Lankan apparel industry. So, this study aims to identify the impact of total rewards on the turnover intention of operational-level employees in ABC Company. In addition to that, this study intends to contribute to filling the literature gap by looking into the impact of total rewards on turnover intention. The study was conducted as a quantitative and cross-sectional research study. The data were collected with the use of self-administered questionnaires. Simple regression analysis was used to test the study hypotheses. The independent variable is total rewards, while the dependent variable is turnover intention. Primary data was collected from ABC Company in Sri Lanka. The sample was chosen using a systematic sampling technique, and the final sample included operational-level employees in ABC Company. Data were analyzed using correlation and regression analysis. Analyzed results showed Pay, Benefits, and Promotion have a moderate negative impact as well as recognition and appreciation, training and development, and work environment have a significant negative impact on the turnover intention of operational-level employees. The study results underlined the potential negative impact of total rewards on the turnover intention of operationallevel employees. To minimize and control the existing turnover intention of employees: the researcher recommended that the concerned parties should have to revise and improve the existing reward practices.