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Employee Turnover and Retention Strategies: A Case of Damro Furnitures

Authors:

H. A. K. N. S. Surangi ,

University of Kelaniya, LK
About H. A. K. N. S.

Department of Commerce and Financial Management, Faculty of Commerce and Management Studies

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D. M. Y. B Dissanayake

University of Kelaniya, LK
About D. M. Y. B
Department of Commerce and Financial Management, Faculty of Commerce and Management Studies
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Abstract

This qualitative case study aims to explore the reasons behind the high employee turnover in Damro Group by evaluating the current employee retention strategies. The data have been collected by conducting semi-structured interviews with fifteen employees who have already left the company and another three employees, including the Human Resource manager currently working for Damro. The purposive sampling method was applied to pick participants in the study. Four themes related to causes for employee turnover emerged from thematic analysis: less employee compensation, less recognition and appreciation, lack of training and career development opportunities, and work stress. However, employee compensation was the driving force in retaining employees. A comprehensive compensation and benefits package and intangible benefits are proven strategies to reduce turnover. By understanding what strategies reduce turnover and how to implement them, furniture industry managers could create positive social change through practical strategies to reduce voluntary and non-voluntary employee turnover and contribute to employees' wealth. Well-developed retention strategies can become stable employment for employees, consequently maintaining the replacement costs at the least and improving organisational performance.
How to Cite: Surangi, H.A.K.N.S. and Dissanayake, D.M.Y.B., 2021. Employee Turnover and Retention Strategies: A Case of Damro Furnitures. Kelaniya Journal of Human Resource Management, 16(2), pp.1–19. DOI: http://doi.org/10.4038/kjhrm.v16i2.90
Published on 30 Dec 2021.
Peer Reviewed

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