Factors Affecting Talent Retention to Ensure Sustainable Growth in the Automation Industry in Penang Free Industrial Zone
MBA Candidate, INTI International University, Malaysia
Majid Bin Md. Isa
Professor, Faculty of Education and Liberal Arts (FELA), INTI International University, Persiaran Perdana BBN Putra Nilai, 71800 Nilai, Negeri Sembilan, Malaysia
Bijay Sigdel
Faculty of Management, Shinawatra University, Thailand, *Corresponding author, Senior Lecturer, Faculty of Business and Communications
Abdul Rahman Bin S Senathirajah
INTI International University, Persiaran Perdana BBN Putra Nilai, 71800 Nilai, Negeri Sembilan, Malaysia
Shaikhah Al-Ainati
Business Department, College of Business Studies, PAAET, Kuwait
Rasheedul Haque
Associate Professor, Faculty of Business, Hospitality, Accounting and Finance (FBHAF), MAHSA University, Malaysia
Syriac Nellikunel Devasia
Faculty of Business, Economics and Finance, Perdana University,Malaysia
Abstract
This study investigates the factors affecting talent retention in the automation industry in Penang Free Industrial Zone. The conceptual model, which is based on the Social Exchange Theory, includes four key components: work-life balance, job satisfaction, reward management and career progression. A structured survey was implemented to collect data after a comprehensive literature review. Responses from 364 participants who were purposively sampled for this study were collected. The significance of the study model was evaluated using multicollinearity and multiple regression analysis. The research reveals important managerial insights for the automation industry, including enabling the allocation of resources and the development of strategies that take into consideration the impact of different work environment. Notably, this study fills a gap in the literature on Malaysia's automation industry, making it particularly helpful. The discussion section explores at relevant applications to help managers improve work environments for better talent retention. Recognising limitations such as self-reported data and the cross-sectional character of the study, this paper suggests future research directions. In conclusion, this study highlights the significant impact that work environment have on talent retention in Malaysia's automation industry leading towards a sustainable growth providing insightful advice for practitioners and inspiring further study in this field.