Impact of Strategic Human Resource Management Practices on Employee Retention

Prakash Shrestha, M.Phil Prajapati
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Abstract

This paper aims to analyze the impact of strategic human resource management (SHRM) practices on employee retention. This study employed a quantitative research approach. Senior-level people including CEOs, DCEOs, general managers, operation in-charges, HR managers, and branch managers of six commercial banks and six insurance companies were requested to respond to a series of questionnaires to collect data. 240 questionnaires were distributed; 167 questionnaires (69.58%) were returned and used for analysis. The results suggest that the banks and insurance companies in Nepal might retain their workforces in part by implementing SHRM practices. Out of five indicators of SHRM practices only three indicators such as recruitment and selection, compensation and benefits, and career management practices have a significant and positive impact on employee retention, whereas two indicators such as training and performance appraisal practices have a negative impact on employee retention. In fact, employee retention is the main problem that Nepalese commercial banks and insurance are facing. This is due to high employee turnover. Therefore, they need to focus on employee retention through the effective application of SHRM practices. They also need to create a cohesive set of employment policies to attract and retain skilled employees.
战略性人力资源管理实践对留住员工的影响
本文旨在分析战略性人力资源管理(SHRM)实践对留住员工的影响。本研究采用定量研究方法。要求六家商业银行和六家保险公司的首席执行官、首席运营官、总经理、运营主管、人力资源经理和分行经理等高层人士回答一系列问卷,以收集数据。共发放问卷 240 份,收回 167 份(69.58%),用于分析。结果表明,尼泊尔的银行和保险公司可以通过实施 SHRM 方法留住部分员工。在人力资源管理实践的五个指标中,只有招聘与甄选、薪酬与福利、职业管理实践等三个指标对留住员工有显著的积极影响,而培训和绩效考核实践等两个指标对留住员工有消极影响。事实上,留住员工是尼泊尔商业银行和保险业面临的主要问题。这是因为员工流失率较高。因此,它们需要通过有效应用人力资源管理实践来留住员工。它们还需要制定一套有凝聚力的就业政策,以吸引和留住技术熟练的员工。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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