Exploring The Role Of HRM Practices In Employee Retention In Karachi’s Corporate Sector

Abstract

This paper provides the results of a quantitative research study that discusses the linkage between HRM practices and staff retention within the corporate sector in Karachi. The questionnaire was given to 300 participants in the form of a survey, whose samples comprised 150 workers and 150 HR professionals working in different sectors such as finance, IT, and manufacturing. The questionnaire treated five major HRM practices, such as compensation, training and development, performance management, work environment and employee relations, and measuring their contribution to employee retention. The data were analyzed by using descriptive statistics, correlation analysis, and multiple regression. The findings also indicated that within the factors of employee retention, compensation and performance management were the most important in precedence, followed by training and development, work environment, and employee relations. The researchers held that the practice of effective performance management, such as feedback and recognition, combined with competitive compensation packages, has a strong impact on employee loyalty and retention. The results indicate that these HRM practices should be emphasized in organizations in Karachi as ways of enhancing retention. The study adds to the increasing literature on the practices of HRM in Pakistan and offers valuable information to HR practitioners to improve their retention practices within the corporate context of Karachi.