Abstract:
ABSTRACT
Employees are the most important asset of an organization. Therefore the
management of the organizations must aware of and make solutions for the problems
incurred due to employee turnover.
Statistics of Insurance Board of Sri Lanka (IBSL) shows that when comparing to the
data of 2016, total sales agents in insurance industry were reduced in 2017 at North
Central province. The insurance sales agents are the intermediaries between the
company and the customers. The insurance companies financing large amount of
money for recruiting, training and retaining of their sales employees. Hence study of
factors affecting to intention to turnover of the sales agents in insurance companies is
important to the insurance industry.
This study is based on the data from North Central branches of the Sri Lanka
Insurance Corporation Ltd. The main objective of this research is to identify the
influence of seven factors namely, immediate supervisor support, nature of the carrier,
skill development, unionization, remuneration, environment of the work place and
Geo-demographic factors to the intention to turnover of the sales agents at North
Central branches of Sri Lanka Insurance Corporation Ltd. The independent variables
were Immediate Supervisor support. Nature of the Carrier, Skill Development,
Unionization. Remuneration and Environment of the workplace and the dependent
variable was Turnover intention. This study was conducted with an empirical survey
which was thoroughly conducted using a questionnaire and the sample consisted of
168 sales agents in North Central branches of SLIC. Mean, standard deviation, t-test,
ANOVA, Pearson correlation and regression analysis were used in statistical analysis.
The findings indicated that there were Negative relationships between Turnover
intention and all the key independent variables such as Immediate Supervisor support.
Nature of the carrier. Skill Development. Unionization. Remuneration, and
Environment of the work place.According to the results of the Multiple Regression
Analysis, the model was accepted by 40.007% ANOVA value where all the
independent variables were significant. Marital status and the monthly income of the
respondents were significantly effect to the Turn over intention
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