Employee turnover can cost business owners up to 200% of an employee’s annual salary to recruit, hire, and train a replacement in the insurance industry. Understanding employee intent to leave is vital for insurance leaders to help reduce turnover. The purpose of this quantitative correlational study was to examine the relationship between intrinsic job satisfaction, extrinsic job satisfaction, and employee turnover intentions of casualty insurance professionals in the southeast region of the United States. The study was grounded in Herzberg’s 2-factor theory. Data were collected from 83 participants using an online survey with questions from the Minnesota Satisfaction Questionnaire and the Turnover Intention Scale-6. The data were analyzed using multiple linear regression analysis. The model was able to significantly predict employee turnover intentions, F(2, 75) = 73.930, p < .001, R2 = .663. In the final model, intrinsic job satisfaction and extrinsic job satisfaction were statistically significant with extrinsic job satisfaction (t = −7.835, p < .01, β= −.683) accounting for a higher contribution to the model than intrinsic job satisfaction (t = −2.138, p < .05, β = −.186). A key recommendation is for insurance leaders to focus on extrinsic job satisfaction factors such as career advancement, compensation, and level of supervision to reduce employee turnover. The implications for positive social change include the opportunity for employees to have steady employment to support their families. Also, there will be a significant positive social impact when employees have steady employment because it increases their morale and creates positive relationships between them and members of the community.
|Commitee:||Stokes, William, Davies, Kevin|
|School Location:||United States -- Minnesota|
|Source:||DAI-A 82/7(E), Dissertation Abstracts International|
|Subjects:||Business administration, Management, Entrepreneurship|
|Keywords:||Employee turnover, Employee turnover intentions, Extrinsic, Intrinsic, Job satisfaction|
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