Abstract
The purpose of this study is to investigate the relationship between employee retention, job satisfaction, perceived supervisory support and compensation by considering the organizational commitment as mediating variable in pharmaceutical industry in Pakistan. For this purpose, primary data collection method was used. A total of four hundred and fifty (450) questionnaires were sent to employees of six pharmaceutical companies. Out of the total, three hundred and twenty (320) usable questionnaires were included for data analysis. Structural Equation Modeling (SEM) was carried out by the means of AMOS 18.0 for model testing purpose. The results signify that positive and significance relationship exists between compensation,Supervisory Support, and organizational commitment. The results further conclude that organizational commitment has strong and positive relationship with employee job satisfaction and employee retention. Key words: Compensation, supervisory support, organizational commitment, employee satisfaction, employee retention.
Highlights
Resource based view (RBV) is one of the most important concept for the organizations (Barney and Wright 1998; Holland, Sheehan and Cieri 2007)
The value of Beta between OC and SAT is 0.727 which shows that if there is one degree change in OC it brings 72.7% change in SAT, The results in Table 2 further signifies that Beta value between OC and ER is.3854 that’s depicts that if there is one degree change in OC it brings 38.54 change in ER whereas, employee satisfaction (SAT) accounts 20.16% change in employee retention The analysis highlights the relationships between COM, SS, OC, SAT, ER are positive and statistically significant (P
This study analyzes the main issues in the pharmaceutical industry which are employee retention and their job satisfaction
Summary
Resource based view (RBV) is one of the most important concept for the organizations (Barney and Wright 1998; Holland, Sheehan and Cieri 2007). According to this concept there are three types of resources that work as pillar for the organization. The importance of human capital is on the increase, so the importance of attracting and retaining the employees this argument is considered because of competitive advantage which a firm gets due to its employees (Holland et al, 2007).
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