The job satisfaction level is a key determinant for the employees’ leaving or retention decisions. The satisfied employees have a tendency to stay in the organization while the dissatisfied employees have a greater tendency to leave the organization. The research study on impact of job satisfaction on perceived desirability of leaving was conducted by selecting the executive level employees in cable manufacturing industry in Sri Lanka. The main objective of this study was to examine the impact of job satisfaction on perceived desirability of leaving. This was split into three sub objectives as; to examine the type of relationship between the job satisfaction and perceived desirability of leaving, to examine the type of relationship between the availability of outside job alternatives and perceived desirability of leaving and to examine whether the availability of outside job alternatives weaken the negative relationship between the job satisfaction and perceived desirability of leaving. In order to realize these three objectives, three hypotheses were developed and tested by using regression analysis.