Enhancing life insurance agents' retention in Malaysia : Leveraging sources of employee support and felt obligation

Retaining talent is a serious issue for companies worldwide, including the life insurance industry, which faces numerous challenges in retaining its employees. However, the relationship between sources of employee support and retention of life insurance agents has received little attention in previous research. This study investigates the influence of sources of employee support, i.e., supervisor support, peer support, technological support, and mentoring, on the retention of life insurance agents. The mediating role of felt obligation in this relationship is also investigated. Using quantitative research method, 265 life insurance agents in the central region of Malaysia completed the online questionnaire. The data was analysed using Partial Least Squares Structural Equation Modeling (PLS-SEM) to test the hypothesized relationships. The results show a positive relationship between all sources of employee support and retention of life insurance agents. When agents perceive higher levels of support from supervisors, peers, technology, and mentors, they are more likely to stay in the industry. Supervisor support is the dominant factor. It significantly enhances job satisfaction, emotional well-being, career development, work environment, role modelling, and communication, providing a solid foundation for long-term retention. However, felt obligation does not mediate the relationship between sources of employee support and retention of life insurance agents, as their decisions to stay are more influenced by the immediate benefits and support they receive. Life insurance providers should adopt higher levels of support from supervisors, peers, technology, and mentors to encourage life insurance agents to stay in the industry. The major theoretical implication of this study is to fill a knowledge gap by investigating how technological support influences retention outcomes through the lens of Social Exchange Theory