EMPLOYEE RETENTION STRATEGIES AND PERFORMANCE IN NEPAL

This paper aims to examine the relationship between retention strategies and employee performance in financial sector organizations of Nepal. The descriptive research design was adopted in this research. The study used a purposive sampling method to identify ten financial institutions including five commercial banks and five insurance companies of Nepal, while a random sampling technique was used to select 250 employees from these organizations. Primary data was collected with survey questionnaires from 180 respondents with a 72% response rate. This study finds that there is positive and significant relationship between retention strategies and employee performance. Nepalese financial sector organizations have been doing well in the implementation of various human resources management practices like compensation, job characteristics, training and development opportunities, supervisor support and career opportunities as the retention strategies. So, results of this study can be used by managers as to how to retain best-talented employees and enhance their performance level.