Abstract:
The core objective of this study is to add to the post pandemic literature regarding the influence of compensation measures on the turnover intention of insurance agents in Rawalpindi/Islamabad. In the same context, the study also assesses the mediating character of an employee’s commitment towards his/her organisation as well as their satisfaction level at work. The purpose behind this research is, the gap acknowledged about the lack of recent research regarding compensation measures and their influence on multiple aforementioned factors in the insurance segment of Pakistan. As the insurance industry plays an important role in the economic progress of the country, human capital acts as the catalyst in the revenue generation of the insurance sector. An analysis of the sector requires due diligence, especially given the unstable economic and inflation rate in Pakistan. Hence, this research conducted a pilot study which identified the significance of the model encouraging full scare analysis of the industry. Therefore, the study uses convenience random sampling through a self-administered questionnaire. A total number of 212 respondents from the top 4 insurance organizations operating in Rawalpindi/Islamabad participated in the study. The data was examined through inferential and descriptive statistics using Statistical Package for Social Scientists (SPSS). The results support the evidence produced by previous research regarding the association between the variables. It implies that compensation has a significant impact on an insurance worker’s commitment towards their organization along with the satisfaction they experience on their job. Whereas, the influence observed on turnover intention is moderate. The mediating analysis also proves to stand correct and favours the model proposed. As a result the study recommends a revision of the existing compensation practices to retain the valued resource in future as a measure to eliminate hindrance in revenue generation. The limitations for this research stand to be the fact that the analysis only focuses on data from the insurance sector, hence, in order to generalize the results, the same model may be applied to other industries and sectors in Pakistan as well as around the globe with additional mediators.
