Human resource practices and turnover intention: a case study on internationalized tech-based small and medium gem and jewellery manufacturers in Kurunegala district of Sri Lanka

Abstract

Internationalized Tech-based Small and Medium Enterprises (TSMEs) are one of the major elements in the present globalized world scenario. In contemporary circumstances, Human Resources (HR) have become the most noteworthy asset for internationalized TSMEs as the ‘intellectual capacity’ is directly associated with the achievement of TSME’s objectives through efficient and effective management of technology, resources and people while balancing the cost structure of the internationalized TSMEs at an optimal level. It is essential to perfectly match the internationalized TSME’s small number of people with their specific job roles within the internationalized TSMEs so as to face the dynamic globalized business context whereas the turnovers directly affect the TSME’s sustainable growth and development. There is a dearth of research regarding the effects of human resource practices on turnover intention in Tech-based Small and Medium Gem and Jewellery Enterprises in Sri Lanka. A sample of 176 employees was selected using Multi-stage random sampling from the Gem and Jewellery TSMEs which are located in the Kurunegala District. Both descriptive and inferential techniques were used to analyze data. As per the findings, it was observed that the employees are satisfied with the existing human resources practices in the Gem and Jewellery TSMEs in the Kurunegala district. In accordance with the correlation coefficient analysis, there is a strong negative correlation between HR practices and turnover intention. In addition, all six human resource practices (Job Information, Job Analysis, Career Development, Work-Family Balance, Supervisor Support and Compensation) identified within this study context, affected the employee turnover intention within an internationalized TSME in a negative manner.