IMPACT OF COMPENSATION PRACTICES ON EMPLOYEE RETENTION IN MANUFACTURING INDUSTRY OF PAKISTAN

Abstract

This research has been conducted with an aim to examine the impact of compensation practices on employee retention through reward management systems and retirement benefit fund. On employee s creativity and quality of work life and also how employee turnover influences due to lack of training & development opportunities. How employee feels about employee retention and how organization makes strategies to retain employees. An adaptive questionnaire from previous literatures was given to convenience sample of 400 respondents from manufacturing industries located in Karachi Pakistan. Quantitative deductive approach is used by researchers. An overall four variables are used to conduct this research and these variables are retirement plans, reward management system, employee turnover employee training and development. Thus study has investigated the role compensation practices being implemented in these selected companies and what impact it has on employee’s intention to leave the company.