Published Paper Details:

Abstract: The world economy is becoming progressively knowledge driven, and intellectual capital is considered to be the major driver that affords organizations a competitive lead. In such a situation, turnover among highly-productive, key employees can be costly. Employers often consider various measures for reducing turnover cost which consists of hiring, recruiting and selecting the employees, besides methods of engaging the selected employees meaningfully. Available research provides ample evidence connecting job satisfaction to reduction in employee to turnover. Ali (2009), Kamasak (2010), and Kumar & Gupta (2013) suggest that job satisfaction has a correlation with the turnover intention of the employee. This inverse correlation starts with the thinking of quitting, seeking for a new job, and the last is moving out of the job once the employee has found a better opportunity. Eisenberger et al. (1990) argued that employees who feel that they are being appreciated by their supervisors or managers, not only have an elevated degree of commitment, they are also more conscious of the responsibilities vested on them, have better involvement in the organization, and are more active and innovative. Hence, such appreciation shown by managers will cause lesser turnover intention. Besides job satisfaction, and commitment, contemporary research throws light on the construct of job embeddedness as a determinant of employee turnover. Job embeddedness comprises of the links an employee has with the job and the organization and other factors in the work space, the employee's fit with the organization and community, and how much an employees is ready to sacrifice to change jobs (Lee et al., 2004; Holtom & Inderrieden, 2006). This study aims to investigate and find out the influences of three distinct factors like job commitment, job satisfaction, job embeddedness which are taken as our independent variables on two dependent variables, turnover intent and job search behavior of an employee. We have selected the banking industry as the field of our study in view of the fact that banking being one of the service oriented industries where people are considered to be the most valuable assets, erosion of this asset will tell upon the whole banking sector. Banks with progressive thinking are already looking for ways to leverage their human resources, along with other processes and technology, to reach their objectives. With the gradual change in employee expectations, organizations are forced to place greater emphasis on talent management and practices (Marie-Antoinette van Zyl, 2011). Moreover, with the introduction of special initiatives for financial inclusion and as a post-demonetization effect, employees at both public and private sector banks are exposed to prolonged working hours with work pressure. A primary survey was conducted on the employees of various private as well as public sector banks in and around Kolkata. There are a total of 80 questionnaires selected from 100 questionnaires that were distributed at the chosen organizations on the basis of which the paper has attempted to diagnose any kind of relationship that might exist between the individual factors that are taken into consideration.