Purpose – The industrial organizations all over the world are operating in a highly competitive and
challenging business environment. Achieving customer satisfaction on a continual basis keeping in
view of the increasing expectations of the customers has been the key to the growth of business and
operations. Customer satisfaction and business development can only be achieved by retaining the
competent and capable managers at different hierarchical levels of the organizations. But with the
growing career opportunities and better employment prospects available, turnover of managerial
personnel has become an increasingly important industrial problem worth studying in the recent
years. The purpose of this paper is to examine the industry-wide problem of managerial turnover.