The banking sector in Myanmar has substantial employee turnover. However, there is still a lack of research on the specific rates and efficacy of the current retention techniques. This study aims to investigate the human capital investment situations of the private banks of Myanmar from employees’ perspectives and examines employee retention intention. This study was survey research where a sample of 410 employees from three private banks in Yangon, Myanmar were collected and analyzed by Cox Proportional Hazard Model to examine the relationships between human capital investment activities and employee retention intention. The research revealed that work-life balance and salary have significant impacts on employee retention intention. However, the relationships between employee retention intention and educational support, training and health benefits are not statistically significant in the current uncertain economic situation. Moreover, private banks’ investment in health benefits of the employees is the lowest from the perspective of employees, and the average year that employees are willing to stay more with their current organizations is 3.5 years. Furthermore, the sector employees are working in and employees’ years of service influence on employee retention intention.