The Impact of Workplace Spirituality on Talent Retention: Evidence from Insurance Sector in Punjab

Abstract

Purpose – In this competitive era, organizational sustainability is dependent on managing and retaining talented workers, by making the workplace more attractive and meaningful. This becomes possible through workplace spirituality (WS). Therefore, this paper was to analyze the effect of spirituality at workplace constructs; spiritual orientation, alignment of organizational values, compassion and meaningful work on talent retention.

Methodology–This cross-sectional study was conducted on 396 respondents from private and public insurance companies operating in Punjab by applying a purposing sampling method. This study used Smart PLS 3.3.3 version software to test hypotheses.

Findings – Results of PLS-SEM analysis that spirituality at the workplace construct (spiritual orientation, alignment of organizational values and meaningful work) have statistically significant and positive impact on talent retention. Compassion was insignificantly linked with talent retention in the insurance sector.

Originality – The present study provides profound and essential insights for upcoming research and management practices, strengthening the workplace spirituality concept as a promising topic in HRM and organizational behavior field. This research has tested the influence of spirituality at the workplace on talent retention for the first time from the perspective of the insurance sector in Punjab (India). This research uses a unique approach and presents a new insight that provides exclusive findings regarding Indian insurance sector experts.