Factors Affecting the Retention Rate Among Employees in Malaysia: a Case Study

David Tangaraj, Shalomi Abenegail (2024) Factors Affecting the Retention Rate Among Employees in Malaysia: a Case Study. Masters thesis, Tunku Abdul Rahman University of Management and Technology.

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Abstract

The purpose of the present study is to examine the factors that have an impact on the employee retention in the Malaysian Banking Industry. Design/Methodology/Approach: This study follows a quantitative approach. An original conceptual framework (research model) has been developed and empirically tested, using primary data collected from 280 employees across the Malaysian Banking Industry. Findings: The study, among others, underlines the huge impact of reward and work life balance on increasing the intention of employees to stay in the same company, while it also highlights the mechanism that impacts employee retention. Practical Implications: The study suggests that companies should built fair and equal pay, as well as a good balance between work and personal life. Retention can be indirectly influenced by the connection between having a balanced work and personal life and the rewards and ability to keep employees shows that providing rewards and a good work-life balance is important for keeping employees Originality/value: The proposed conceptual framework synthesizes the finding of numerous previous studies, offering a holistic approach that can enhance the understanding about the issue of employee retention. It categorizes the antecedents of retention in three dimensions; tangible, intangible and strategic. Finally, the present study collects empirical data from 280 employees across banks in Malaysia.