DefinePK

Research Objective

To investigate the relationship between human resource management (HRM) practices, workplace social support, work engagement, and employee turnover intention, with a specific focus on the moderating role of financial insecurity during the COVID-19 pandemic in the banking industry.

Methodology

Quantitative research approach using a survey method. Cross-sectional data was collected from 348 permanent bank employees in Pakistan using a 7-point Likert scale. Cluster area sampling was employed, focusing on banks in Punjab and KPK provinces. Data analysis involved descriptive statistics, measurement model assessment (internal consistency reliability, discriminant validity), structural model testing (direct hypothesis testing, mediation analysis, moderation analysis) using SmartPLS 3.0.

Methodology Flowchart

                        graph TD
    A["Define Research Problem & Objectives"] --> B["Literature Review & Theoretical Framework"];
    B --> C["Develop Hypotheses"];
    C --> D["Quantitative Research Design - Survey"];
    D --> E["Data Collection - 348 Bank Employees in Pakistan"];
    E --> F["Data Analysis - SmartPLS 3.0"];
    F --> G["Measurement Model Assessment"];
    G --> H["Structural Model Testing"];
    H --> I["Hypothesis Testing - Direct, Mediation, Moderation"];
    I --> J["Interpret Results & Discuss Findings"];
    J --> K["Draw Conclusions & Provide Implications"];
    K --> L["Identify Limitations & Future Research Directions"];                    

Discussion

The study emphasizes the importance of HRM practices and workplace social support in fostering long-term employee relationships, aligning with Social Exchange Theory. Financial compensation is highlighted as particularly crucial in developing economies like Pakistan. The findings suggest that while career adaptability is important, it can also increase turnover intentions if employees gain marketability. Supervisor and co-worker support directly influence turnover intention, and work engagement acts as a mediator. Financial insecurity exacerbates mental and physical fatigue, as suggested by JD-R theory.

Key Findings

- Several HRM practices (financial compensation, career adaptability, performance appraisal, supervisor support, co-worker support) have significant direct effects on turnover intention and work engagement.
- Work engagement partially mediates the relationship between HRM practices/workplace social support and turnover intention.
- Financial insecurity significantly moderates the relationship between work engagement and turnover intention, weakening the impact of work engagement on turnover intention when financial insecurity is high.

Conclusion

Banks should improve HRM practices (financial compensation, career adaptability, performance appraisal) and workplace social support (supervisor and co-worker support) to enhance employee engagement and reduce turnover intention. Addressing financial insecurity is crucial, as it can diminish the positive effects of work engagement on retention. Institutions should also consider employees' personal advancement beyond just work engagement.

Fact Check

- The study collected data from 348 respondents out of 500 questionnaires circulated.
- Over 72% of the respondents held a PhD qualification.
- The study was conducted in Pakistan, specifically focusing on banks in Punjab and KPK provinces.

Mind Map