People is the prime asset of an organization that can make the business successful among the competitors. The success of an organization largely depends on its ability to attract and retain the talent employees to be devoted for the business. When the employee turnover rate becomes higher, the organization might lose its human capital, more specifically, skilled and trained human resources to its competitors which incurs both replacement costs and a competitive loss. This research, thus studied the key factors influencing employee turnover intention and also its impact on business of Pharmaceutical Industry of Bangladesh. The sample units are taken from three leading pharmaceutical companies of Bangladesh. Self-developed semi-structured survey questionnaires applying purposive sampling techniques were distributed to the 110 respondents out of which only 100 were valid and used for data analysis. Quantitative data was analyzed by the use of descriptive statistical methods. Furthermore, the study also interviewed a good number of human resource heads working in the Pharmaceutical Industry of Bangladesh by convenient sampling techniques. The study reveals that Salary & Benefits, Reward & Recognition, Career Progression Opportunity and Supervisor’s Behavior are the dominant factors of employee turnover in the pharmaceutical industry of Bangladesh. Job security, Job design and Organization climate are other factors that employees do consider for their departure from the organization. The study also explores that employee turnover has an impact on key indicators of organizational performance such as employer branding, revenue growth, productivity, moral & culture and quality of work. The study recommended a good number of strategies for improving the employee retention in pharmaceutical industry.