Impact of Work-Life Balance on Employee Retention- A Study on Banking Sector

Abstract

Work is an essential aspect of life; it provides a sense of accomplishment, identification, and means of income to fulfill the basic requirements. Due to the development of technology, the number of women workforces and dual-earner families, it is important for both employers and workers to balance both professional and personal life. This study examines the effectiveness of the work-life Balance of bank employees and its impact on employee retention in the selected banks in Sivakasi, Virudhunagar district. This paper also identifies the various work-life balance initiatives taken by the banks to reduce employee turnover and to enhance employee job satisfaction. A sample of 245 respondents was randomly selected to participate in the study. A well-structured questionnaire was used to collect the data. The findings revealed that the work-life balance has a direct impact on employee’s retention and it also helps to improve the employee’s job satisfaction.