Prime and sub-prime factors of employee voluntary turnover in boom phase of industry: Empirical evidence from banking sector of Pakistan

Abstract

The implied debate relating turnover and its factors may be old but the present study takes a new route towards the understanding of turnover by employees. Banking industry of Pakistan passed through its boom phase in the last decade and along side encountered with much turnover unexpectedly. For this study we selected employees who changed their job during boom phase of industry. This paper first investigated the prime factors of the turnover and then has used bivariate correlation to determine the sub-prime factors associated with prime factors. This bifurcation is very necessary to know the stem roots of the main problem. Much of past literature consists of turnover intentions and the factors related to them. But the current study moves much step ahead by giving the actual causes that pushes any employee for turnover especially in boom phase. The results do confirm a major impact of sub-prime factors on the actual prime factor. This study also recommends some possible solution for the situation. Key words: Banking voluntary turnover, boom phase, prime and sub-prime Factors, employee satisfaction, compensation, management relations, career growth, job hoping, Pakistan.