RETENTION OF EMPLOYEES IN EVENTS INDUSTRY WITH THE IMPACT OF COVID 19 PANDEMIC

Abstract

The COVID-19 pandemic has resulted in a sudden economic crisis and recession globally. Social distancing, self-isolation and travel restrictions have led to a reduced workforce across all sectors and caused many jobs to be lost. Employee retention is the ability of an organization to retain its employees and link to the efforts done by the employers to retain the employees in their workplace. Under the COVID-19 pandemic, many organizations have collapsed their operations and lead to sudden huge economic failures. It directly affects employee retention in every organization especially industries like tourism, hospitality and events. Therefore, this study mainly aimed to determine the factors influencing on employee retention in the Sri Lankan events industry and also identify the most influencing factors on employee retention in the Sri Lankan events industry with the impact of COVID 19 pandemic. In order to achieve the objectives of this study, one hundred professionals were selected under the convenient sampling technique and used structured questionnaires for data collection and the rate of response is sixty per cent. Karl Pearson‘s coefficient of correlation and the regression analysis was employed in data analyses. Based on the literature, ten factors were identified which can be influencing on employee retention in the Sri Lankan events industry. Health and safety practices of the workplace and work-life balance and personal wellbeing are the most influencing factors and facilities and flexibility of the job, company loyalty and brand reputation, compensation – rewards and incentives as other factors which strongly influence on employee retention in the Sri Lankan Events Industry during the COVID 19 pandemic. Further studies need to be carried out on employee retention during global disaster situations in the Sri Lankan Events Industry. Moreover, the findings of this study support relevant authorities to make decisions on employee retention in the Sri Lankan Events Industry during global disasters.