Unlocking the Potential and Preserving the Finest Gems: Strategies for Retaining Top Employees in Organizations

Dhruba Lal Pandey, Nischal Risal, Bhupindra Jung Basnet

Abstract

This study aims to examine the relationship between career development opportunities, compensation, benefits, organizational culture, and top employee retention, with the mediating effect of leadership support. The sample comprised managerial and above managerial employees in Nepal, and 138 responses were collected purposively. A five-point Likert scale questionnaire was used to collect data; analyzed using SmartPLS. Top employee retention is influenced by compensation, benefits, and organizational culture. Career development opportunities were less important for the retention of top employees. Leadership supports mediate only the relationship between career development opportunities and top employee retention. Organizations operating in Nepal must develop proper strategies/ policies on fair competitive compensation, benefits, and supportive organizational culture for the retention of top employees. Organizations should manage supportive leadership while providing career development opportunities to retain top employees. This study considered achievement goal theory as the foundation of the study. Most previous studies have considered a resource-based view. However, this study attempted to view the relationship between HR practices and retention from the lens of goal achievement. Similarly, this study generated literature considering different perspectives in the context of Nepal.    

 

Keywords: employee retention, strategies, top-level employees, Nepal.

 

DOI: https://doi.org/10.55463/hkjss.issn.1021-3619.63.11


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