The Impact of Work Life Balance on Employee Turnover Intention in Selected Private Banks in Colombo District, Sri Lanka

Abstract

Area of the Study This study mainly focuses to identify the impact of work life balance on employee turnover intention in the selected private banks in Colombo District, Sri Lanka. Problem of the Study There are no empirical research findings on the impact of work-life balance on employee turnover of the banking employees in Sri Lanka. Therefore, the research problem addressed under the study is “How work life balance impact on employee turnover intention in the selected private banks in Colombo District, Sri Lanka?” Method of the study The data were collected from a randomly selected sample of 140 employees in the selected private banks in Colombo District, Sri Lanka. Data were collected using structured questionnaire which consists of 20 statements with 5 point Llikert Scale. Data were analysed through SPSS (Version 16) computer package and it included univariate and bivariate analysis. Findings of the Study The results of the study emphasize that there is a negative impact of work life balance on employee turnover intention. As per the regression analysis, 54.7% of the total variation of employee turnover intention explained by the work life balance. Further, it was proved that there is a negative impact of dimensions of work life balance on employee turnover intention. Conclusion of the Study It is concluded thatwork life balance is a vital variable to realize the employee turnover intention. Further, this study support for filling the existing theoretical and practical gap in Sri Lankan banking industry, which is mainly helpful to top management to recruit work life balance employees to retain with in the industry. Keywords: Colombo District, Private Banks, Turnover Intention, Work Life Balance