Providing psychological and social support through counselling promotes the quality of work-life. Further, promoting employee well-being leads to decrease employee turnover. Previous studies imply that job satisfaction, work-life balance, trust, and management support are the critical factors that impact employee retention. Many variables influence employee turnover intentions. This type of approach enables businesses to achieve its strategic goals while retaining satisfied and skilful employees. Therefore, it is essential to identify the factors that affect employee retention, which is also a topical issue worldwide. As such, this issue can have massive effects on a company’s performance, especially for new businesses and startups. The issue of employee turnover is considered as one of the global obstacles for organisations worldwide, which directly and adversely affects strategic plans and opportunities of gaining competitive advantages. As such, these employees suddenly quit the company resulting in increased employee turnover. However, some organisations are weak in strategy adoption while not focusing constantly on these processes or employee voice. These processes sharpen employees’ skills and capabilities, directly affecting the organisation’s success. ![]() Organisations conduct workshops for employees, buy online tutorials, evaluate employee performance, and provide feedback to them, which are some common types of investments in human resources. Companies invest in many ways for employees, as they are one of the organisation’s valuable assets. Organisations spend more time and take much effort to identify the good fit employees for the company. Companies need to give high priority to employee development and predict employee behaviour. Having the right combination of human resources/employees can assist firms to be effective in driving change, boosting business performance, as well as to achieving and sustaining a competitive edge. This study’s findings help to identify the areas management should focus on to minimise employee turnover to retain experienced and skilled employees. This study also proved a significant positive relationship between male employees in their thirties and high employee turnover. The results verified that job satisfaction and co-worker support negatively impact employee turnover, whereas leader member exchange positively impacts employee turnover. Data analysis was performed through a forward stepwise technique through STATA. ![]() The study population was professionals who have been a key part of Sri Lankan startups, which involved 230 respondents. Using ventures in Sri Lanka as a case study, this study demonstrates that employee turnover occurs in different stages and independent factors impact differently in each stage. ![]() A Probit regression model through the stepwise technique was used to analyse the collected data. The main objective of this research is to consider psychographics and socio-demographic factors in one study and analyse the impact on employee turnover. ![]() Many countries have examined various factors that affect employee turnover. The impact of factors affecting employee turnover varies occasionally and new factors are considered. Employee turnover is one of the topical issues worldwide.
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