Abstract
Knowledge management has become a vital element in today's extremely competitive, uncertain, and quickly changing environment. The method of acquiring expertise is knowledge management. In the highly competitive, volatile, and rapidly evolving market climate, knowledge management has become crucial. The goal line of this study is to measure the effect of knowledge management processes (acquisition, share, codification, creation, and retention of knowledge) on job satisfaction. Further, we examine the affiliation between job satisfaction and employee retention. A theoretical model is suggested based on connecting knowledge management processes, job satisfaction, and employee retention. The results of survey data gathered from 32pharmaceutical and chemical companies listed in the Dhaka Stock Exchange in Bangladesh are empirically checked with PLS-SEM (Structural Equation Modeling-Partially Least Square). The study finds that knowledge management processes have a significant and positive impact on job satisfaction. Also, job satisfaction is positively associated and highly significant with employee retention. The findings generated from this study would be a policy dialog to the human resource department, regulatory bodies, academicians, and policy-makers.
Highlights
Knowledge management has become a vital element in today's extremely competitive, uncertain, and quickly changing environment
“On the basis of knowledge, the primary means of output are intangible; it focuses on human resources, e.g., the talents, experiences, abilities, enthusiasm for work, and how they use them for the organization's benefit (Crook et al, 2011).”
Research shows that the knowledge management processes with methods impact work satisfaction, which eventually enhances the retention of the employees
Summary
Knowledge management has become a vital element in today's extremely competitive, uncertain, and quickly changing environment. A theoretical model is suggested based on connecting knowledge management processes, job satisfaction, and employee retention. The study finds that knowledge management processes have a significant and positive impact on job satisfaction. Skills, and intelligence are silent and individually based, the company cannot acquire and process them. In certain situations, this may be a management problem. Ratan et al, / International Journal of Management and Accounting, 2(6), 119-130, 2020 accepted as knowledge organizations, which concentrate primarily on the selection, processing, and delivery of information and knowledge resources to various stakeholders (Huang, 2014). Research shows that the knowledge management processes with methods impact work satisfaction, which eventually enhances the retention of the employees. The paper discusses how knowledge management functions and methods affect employee satisfaction with their jobs and improve employee retention with a view to bridging this gap in the literature
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