Commercial banks play an important role in the financial system and economy of Sri Lanka. The employees of commercial banks are the key factor for successfully achieving their goals. Every organization faces the issue on keep employees in the long term. The turnover rate has an impact on an organization’s efficiency and job performance. Therefore, every bank’s major consideration is to retain their skilful key employees. The objectives of this study are to identify the level, relationship, and impact of employee retention strategies (leadership, promotion, training, and reward) on intention to retain and job performance among selected commercial bank employees. To achieve these objectives, the stratified sampling method is used as a sample of the study which was conducted among 209 employees from selected banks in Sri Lanka. However, 179 respondents were analyzed by using descriptive and correlation analyses. The findings show that the level of employee retention strategies, intention to retain, and job performance are high. There is a significant positive relationship between employee retention strategies and intention to retain and also there is a significant relationship between employee retention strategies and job performance. There is a significant impact on employee retention strategies on intention to retain and job performance in selected commercial banks in Sri Lanka. There is a better condition in retention practices in commercial banks in Sri Lanka. Banks should keep this high level and take consideration for enhancing the intention to retain and job performance.