Abstract:

In banking sector of Pakistan, it has observed in the recent studies that most of the banks have high turnover rate. There are many reasons for turnover and retention problem, different banks have different facet and different situations to retain employees. After review of literature, employee well being is a most important factor that is associated with the employee retention in any industry. In this study, the aim was to measure the factors such as employee engagement, work life balance; work stress, working environment and workplace conflict have impact on employee wellbeing of employees in banking sector of Karachi that leads to employee retention. The population for this study is the customers in the banking sector, and the sample size is 131. The self-administered adopted questionnaire was used to collect the data from employees of a leading bank in Karachi. According to developed model for this study, the effect of factors on employee wellbeing can be evident from this equation employee wellbeing=1.7+.30*employee engagement+.04*work life balance+.080*work stress+.108*working environment+.02*workplace conflict+.23. These factors collectively and individually significantly predict employee wellbeing. It is found that the strongest predictor was employee engagement (R2=45) followed by work life balance (R2=.40), work stress (R2=.31), working environment (R2= 24), and workplace conflict (R2= .20).