The Impact of Expectations on Turnover Intention Among Generation Z Employees in the Financial Sector in Sri Lanka

With the Generation Z taking over the workforce of Sri Lanka, as more and more of these individuals entering the job market and moving up the corporate ladder, it seems for the workplace to be prepared to not only welcoming but retaining these employees in the long run. The age-old Human Resource conundrum of dysfunctional employee turnover comes to mind in the light of this new generation. This study was carried out to find the factors affecting to the turnover of the Gen Z employees in Sri Lanka. A sample of 76 non-technical employees was drawn from the financial sector by using stratified random sampling method with 72% response rate. Data was collected by administering a questionnaire measuring the variables of the study. The questionnaire was distributed online to the respondents. It was found that life expectations have significant impact on the level of turnover intention of the Gen Z employees. However, the study found no evidence on the possible impact of job expectations on turnover intention. As expected, the Employee Value Proposition (EVP) recorded a significant impact on employee turnover intention. The findings of this study bear some theoretical and practical implications and are bounded with certain limitations. Further studies are recommended with the aim rectifying the limitations.