THE IMPACT OF WORKLIFE BALANCE FACTORS ON EMPLOYEE TURNOVER INTENTION THROUGH JOB SATISFACTION IN INSURANCE COMPANIES OF PAKISTAN

Abstract

A cross sectional study was designed to evaluate the impact of different work life balance factors on turnover intention through job satisfaction in different insurance companies in Pakistan. There are total 12 insurance companies in Pakistan, out of which four companies namely, State Life Insurance Corporation, EFU Life Assurance, JLI (Jubliee Life Insurance) and AdamJee Life Insurance Corporation located in Rawalpindi and Islamabad were selected. 300 questionnaires were distributed among the four insurance companies, of which 230 were returned, 19 were discarded, and hence a total sample size of 211 questionnaires was obtained. After data collection, the data was entered in SPSS 17 and the reliability of scales was tested using Cronbach Alpha’s Coefficient Method. Correlation and regression analysis was performed for hypothesis testing. The results of the study showed that the primary factors that contribute to the work life balance are work place culture, social support, rewards and benefits, alternate working hours and recreation facilities. However, social support, alternate working hours and rewards and benefits had a significant positive relation with job satisfaction and negative relation with turnover intention. The finding of this study reported that the relationship between rewards and benefits and turnover intention were partially mediated by job satisfaction.