The Effect of Welfare Facilities on Employee Retention in a Selected Company in Sri Lanka

Abstract

As a significant determinant of intention to retention of an employee, this study is to discuss the effect of welfare facilities on employee retention in a selected company. There is an empirical and knowledge gap in the Sri Lankan context on the effect of welfare facilities on employee retention. The main objective of this research study is to identify the effect of welfare facilities on employee retention in a selected company. The research problem of the study: is there a relationship between welfare facilities and employee retention? 150 non managerial employees were used as a sample for the study and convenience random sampling method was used in this study. The structured questionnaire was used to gather primary data from the sample and all questions were given with five points scale. Bivariate and multivariate analyses were used. The positive relationship between staff loan, canteen facilities, accommodation and other facilities with employee retention were the major findings of the study. As a significant factor, welfare facilities should be enriched by the management to get maximum benefits of the employees is the recommendation of the study.

 Keywords: Welfare facilities, employee retention, Staff Loan, Canteen Facilities, Accommodation