An Effectiveness of Human Resource Management Practices on Employee Retention Findings from Insurance Companies of Karachi

Abstract

The purpose of this research is to identify the “Effectiveness of Human Resource Management Practices on Employee Retention Findings from Insurance Companies of Karachi”. The research will help in determining the importance of HRM practices. Primary data is collected through questionnaires which are of close ended nature.5 LIKERT scales are provided in the questionnaire so that we find the result estimation of Human Resource practices on employee retention. Respondent are selected by snowball sampling technique with a response rate of 93%. To analyze the data, SPSS software has been used. Respondent information is taken by asking questions about variables like Compensation, Performance Appraisal and Empowerment. Reliability test is utilized to check the reliability of our questionnaire. Correlation test is utilized to test the relationship between independent variable and dependent variables and Regression Analysis is done for the purpose of testing hypothesis. The end results show that HRM practices i.e.; training and development, performance appraisal, compensation and empowerment have a positive impact on employee retention.

Keywords: Training and development, performance appraisal, compensation and empowerment, insurance companies.