Employee performance is the secret to success for every company. Companies want their employees to understand the company’s vision and objectives and meet the individual goals set by the managers. The insurance industry in Bangladesh has stagnant growth compared to other industries. Moreover, insurance companies are lagging in managing human resources, especially permanent employees. Sustainable employee performance will help companies to achieve sustainable growth. This study aimed to identify the influencing factors that impact sustainable employee performance of insurance industry employees in Bangladesh. The study utilized the social exchange theory as the underpinning theory. The study modified the social exchange theory and proposed a research framework with five indicator variables: compensation, job satisfaction, work environment, leadership style, and motivation. The survey included 200 insurance company employees from various departments and companies. The collected data were analyzed using the partial least square–structural equation modeling (PLS–SEM) method using SMART PLS 3.2.7 software. The findings revealed that all the factors significantly positively impacted sustainable employee performance. The results of the study are helpful for academicians and researchers to analyze employee performance further. In addition, the results will help insurance companies and policymakers to make appropriate decisions to ensure sustainable employee performance in the organization.