Job satisfaction and employee turnover intention in insurance industry: the Nepalese evidence

Abstract

This is the study on job satisfaction and its impact on turnover intention in insurance industry in Nepal. It examines the multiple relationships of demographic variables as well as organizational variables with job satisfaction and employee turnover intention. The analysis was carried out with demographic variables namely, age, gender, marital status, academic qualification, job status, job experience and geographical regions. The study hypothesized that there are significant relationships between job satisfaction and turnover intention among the employees in insurance industry. Three research instruments have been used to obtain data: questionnaire, interview and observation. A total of 331 respondents were randomly selected as the sample of study and data were analyzed by Statistical Package for Social Science Window program, (SPSS) 16.0 Version. The test conducted were Means, Standard Deviation, Analysis of Variance (ANOVA) , Person Correlation Coefficient, Multiple Regression and Chi-Squire. The findings of the study show that majority of the respondents were from age group of 25-34 years. Similarly, majority of the respondents had experience below 5 years and were from Kathmandu valley. All respondents were literate and most of them were married. Majority of respondents had higher academic qualification of bachelors‟ degree and above. The result of analysis shows that level of job satisfaction was heavily influenced by demographic as well as organizational factors. The academic qualification demonstrates the strongest relationship and geographic location demonstrate the weakest relationship among demographic variables. In this study, „remuneration and employee benefits‟, „working environment‟, „career development and rewards‟, „responsibilities and autonomy‟ and „leadership and supervision‟ are taken as the major organizational factors affecting job satisfaction in the insurance industry of Nepal.