The efficacy of work-life balance for young employee retention: a validated retention model for small private industries

The objectives of the study were to find out the effects of work-life balance (WLB) on Generation Y (Gen Y) employee retention and mediating effects of job satisfaction in small private business to combat the massive losses and instability due to frequent millennial turnover. Although extensive studies on Generation Y turnover have been carried out in the western context, the problem of frequent Generation Y turnover remains unresolved in developing countries especially in the context of Bangladesh, the fastest growing economy in South Asia. Hence, literature about the impact of work-life balance on Generation Y employee retention is examined to be missing in the non-west developing country context. In this quantitative study, the SMART PLS was applied for analysis and the results deduce that work-life balance got a significant positive impact on retention and mediating through job satisfaction. The study grounds significant implications for all stakeholders relating to Generation Y employee retention as well as future researchers.