HRM PRACTICES AND TURNOVER INTENTIONS IN SMES: A BANGLADESH-USA COMPARISON AMONG GEN Y

Abstract

This comparative analysis investigates Generation Y's perceptions of Human Resource Management (HRM) practices in Small and Medium-sized Enterprises (SMEs) within Bangladesh and the USA's distinct cultural and economic contexts, employing a mixed-methods research design that combines quantitative surveys with qualitative semi-structured interviews. The study meticulously selects a stratified sample of SMEs across both nations to capture a wide array of HRM practices and organisational cultures, followed by rigorous comparative analysis and statistical examination to identify the impact of these practices on turnover intentions. Key findings highlight that while Generation Y employees universally value work-life balance, professional growth opportunities, and supportive work environments, regional differences are pronounced; American employees exhibit a strong preference for flexible working conditions and immediate feedback as key to job satisfaction and retention, whereas Bangladeshi counterparts prioritise job security and clear advancement pathways, underscoring the nuanced influence of cultural and economic factors on employee expectations. These insights emphasise the critical need for SMEs to customise their HRM strategies to meet the specific aspirations of Generation Y, advocating for a context-aware approach that transcends a one-size-fits-all model. The research underscores the strategic importance of understanding and integrating local cultural and economic nuances into HRM practices for SMEs, suggesting that such tailored strategies are pivotal in fostering a motivated, engaged, and loyal Generation Y workforce, thereby enhancing SME competitiveness in a globalised business environment.