The Strategic Impact of Human Resource Management Practices on Employee Turnover, Organizational Productivity, and Economic Performance: A Multi-Dimensional Analysis

Abstract

This study explores the strategic influence of human resource management (HRM) practices on employee turnover, organizational productivity, and overall economic performance in the context of medium to large enterprises in Bangladesh. By employing a mixed-methods approach integrating both quantitative and qualitative data, the study provides comprehensive insights into the effectiveness of HR practices in emerging economies. Structural Equation Modeling (SEM) was used to analyze survey data from 300 HR professionals, while thematic content analysis of interviews offered in-depth contextual interpretation. The findings reveal that HRM practices significantly reduce turnover, enhance productivity, and contribute positively to financial outcomes. This study not only extends theoretical frameworks like the Resource-Based View (RBV), Human Capital Theory, and the Ability-Motivation-Opportunity (AMO) model into a new context but also offers actionable recommendations for business leaders and policymakers.

Keywords: Human Resource Management, Employee Turnover, Organizational Productivity, Economic Performance, Bangladesh, Strategic HRM, SEM, Mixed Methods