A STUDY ON THE RELATIONSHIP BETWEEN WORK-LIFE BALANCE AND EMPLOYEE RETENTION IN THE FINANCIAL SECTOR OF ANDHRA PRADESH AND TELANGANA

Abstract

This study looks at the connection between employee retention and WLB in Andhra Pradesh's and Telangana's financial industries. A structured questionnaire was used to gather data from 464 employees as part of a quantitative research strategy, and ANOVA was used to assess the hypotheses. Employee retention and WLB are significantly correlated, according to the research, indicating that workers who have a better WLB are more likely to stick with their companies. Flexible work schedules by themselves, however, do not significantly affect retention, underscoring the necessity for businesses to adopt comprehensive retention plans that include chances for professional advancement, employment stability, and competitive pay. The study contributes to existing literature by emphasizing the multidimensional nature of employee retention, where non-monetary factors such as WLB play a crucial role but must be complemented by additional organizational support. The findings underscore the necessity for financial institutions to adopt comprehensive human resource policies that not only offer flexibility but also foster career development and workplace well-being. Given the study's geographic focus, future research should explore similar dynamics in different industries and regions to determine the generalizability of these findings.