Title: The efficacy of work-life balance for young employee retention: a validated retention model for small private industries

Authors: A.K.M. Manirul Bahar; Md. Asadul Islam; Amer Hamzah; Sabrina Nushrat Islam; M.D. Reaz

Addresses: Bangladesh University of Professionals, Mirpur Cantonment, Mirpur, Dhaka, Bangladesh ' School of Business, Swinburne University of Technology, Sarawak Campus, Malaysia ' Business School, Universiti Putra Malaysia, Selangor, 43300, Malaysia ' Faculty of Public Health, Atish Dipankar University Science and Technology, Banani, Dhaka, Bangladesh ' School of Business, Western Sydney University, Australia

Abstract: The objectives of the study were to find out the effects of work-life balance (WLB) on Generation Y (Gen Y) employee retention and mediating effects of job satisfaction in small private business to combat the massive losses and instability due to frequent millennial turnover. Although extensive studies on Generation Y turnover have been carried out in the western context, the problem of frequent Generation Y turnover remains unresolved in developing countries especially in the context of Bangladesh, the fastest growing economy in South Asia. Hence, literature about the impact of work-life balance on Generation Y employee retention is examined to be missing in the non-west developing country context. In this quantitative study, the SMART PLS was applied for analysis and the results deduce that work-life balance got a significant positive impact on retention and mediating through job satisfaction. The study grounds significant implications for all stakeholders relating to Generation Y employee retention as well as future researchers.

Keywords: millennial; generation Y; Gen Y; employee retention; turnover; job satisfaction; work-life balance; WLB.

DOI: 10.1504/IJPMB.2022.122202

International Journal of Process Management and Benchmarking, 2022 Vol.12 No.3, pp.367 - 394

Received: 25 Apr 2020
Accepted: 20 May 2020
Published online: 12 Apr 2022 *

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