Impact of Best HRM Practices on Retaining the Best Employees: A Study on Selected Bangladeshi Firms

Asian Journal of Social Sciences and Management Studies, Vol. 3, No. 2, 108-114, 2016

Humanistic Management Network, Research Paper Series No. 44/15

4 Pages Posted: 14 Dec 2015 Last revised: 6 Jan 2016

See all articles by Sajjad Hosain

Sajjad Hosain

Sichuan University - Business School

Date Written: December 12, 2015

Abstract

This study has been developed to endeavor the relationship between ten Human Resource Practices (job analysis, recruitment & selection, adequate training facilities, performance appraisal, adequacy of information, supervisory treatment, opportunities for career development, compensation & benefit, managerial relationship with employees and degree of employee participation in decision making) and their possible impact on employee retention. The research was carried out with a sample size of 252 non-managers and 62 top level managers of 23 public and private corporate firms in Bangladesh. Data have been collected through a detailed structured questionnaire from the respondents. Judgment sampling method has been used to recruit the respondents. Result after careful statistical analysis has drawn a very interesting and unusual conclusion. It has indicated that there is a positive but insignificant relationship between job analysis, adequacy of information, management-employee relationship and participation in decision making with employee retention. The other six independent variables, recruitment & selection, job training facilities, performance appraisal, supervisory treatment, career development and compensation & benefit have negative relationship with employee retention. Among them, job training, compensation & benefit and supervisory treatment have strong negative relationship with employee retention.

Keywords: Bangladesh, Human resource management, Human resource management practices, employee retention

JEL Classification: M12

Suggested Citation

Hosain, Sajjad, Impact of Best HRM Practices on Retaining the Best Employees: A Study on Selected Bangladeshi Firms (December 12, 2015). Asian Journal of Social Sciences and Management Studies, Vol. 3, No. 2, 108-114, 2016, Humanistic Management Network, Research Paper Series No. 44/15, Available at SSRN: https://ssrn.com/abstract=2702865

Sajjad Hosain (Contact Author)

Sichuan University - Business School ( email )

China
13258313858 (Phone)

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