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Employee Retention among Sales Managers in Private Sector Insurance Companies: The Role of Motivational Factors in Chennai City
Dr. G. Vijayakumar Assistant Professor & Research Supervisor, Department of Commerce, Sir Theagaraya College, Chennai.
Pages: 1-16 | First Published: 05 Jun 2022
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Abstract

This study examines the influence of motivational factors on employee retention among sales managers working in private sector life insurance companies in Chennai City. The research employed both primary and secondary data, with primary data collected through a structured questionnaire administered to sales managers after explaining the objectives of the study. A simple random sampling technique was adopted to select 300 respondents, of which 283 valid responses were retained for analysis after excluding incomplete questionnaires. The collected data were analyzed using appropriate statistical techniques to assess the relationship between motivational factors and employee retention. The findings indicate that sales managers are generally satisfied with key motivational factors, including compensation, work environment, leadership, training and development, and fringe benefits provided by private sector life insurers. The study further reveals a significant association between motivational factors and employee retention practices and confirms that motivational factors have a significant positive influence on employee retention among sales managers in private sector life insurance companies in Chennai City.

Keywords: Compensation, Leadership and supervision, Engagement, Work Environment, and Employee Retention.

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