The Impact in HRM due to the increase of staff turnover as a result of Lankan Rupee Depreciation
The pandemic situation due to the eruption of Covid 19 since the end of the year 2019 had a major impact and threat in many industries and countries. As such, Sri Lanka experienced a vast downfall in many industries. Some companies within Sri Lanka had showcased their resilience in rebuilding and delivering a positive outcome but many entities had to face a greater threat due to the demand put forward by the employees to increase their salary to face the inflation within the country . Income vs Inflation According to Central Bank of Sri Lanka(2022) , referring to the National Consumer Price Index (NCPI) issued by Central Bank of Sri Lanka (CBSL), the headline inflation rate of Sri Lankan consumer pricing was 4.60% as at December 2020 and increased upto 14.00% as of December 2021 which now at an all time maximum inflation rate. While the inflation being increased by 9.40% within a year, the minimum annual increment of the staff pay of a normal company listed under CSE (Colombo Stock