10. The Dynamics of Cultivating Loyalty: Strategic Human Resource Management as the Keystone of Employee Retention within the Evolving Corporate Landscape of Sri Lanka

1 Introduction Human resource management (HRM) continues to place a strong emphasis on employee retention, especially in developing nations like Sri Lanka. Elevated employee attrition rates may result in amplified expenses for hiring and onboarding, forfeiture of organizational expertise and client connections, decline in team spirit, and reduced output (Ayupp & Then, 2010) . This report explores how HRM in Sri Lankan firms effectively contributes to employee retention. Source (Morella-Olson, 2021) 2 HRM and Employee Retention Retention of employees can be improved with effective HRM techniques. Employers can mostly keep workers by offering competitive pay, a great workplace, job security, incentives, organizational culture, performance review processes, chances for professional advancement, and supportive supervisors (Ton & Huckman, 2008) . Source (TED Institue, 2...