Open AccessExploring Managers’ Perspective on Factors Affecting Generation Y Retention
Author(s) -
Dideana Thompson,
Agatha Lamentan Muda
Publication year - 2021
Publication title -
journal of cognitive sciences and human development
Language(s) - English
Resource type - Journals
eISSN - 2550-1623
pISSN - 2462-1153
DOI - 10.33736/jcshd.3798.2021
Subject(s) - loyalty , perspective (graphical) , employee retention , job security , job satisfaction , interview , compensation (psychology) , retention management , business , work (physics) , public relations , marketing , generation y , career development , leadership style , psychology , social psychology , sociology , political science , engineering , mechanical engineering , artificial intelligence , computer science , anthropology
The study explores factors behind Generation Y employees' retention from the perspective of managers in a financial services sector. A qualitative method was employed, by interviewing eight managers as informants. The results show ten factors affecting Generation Y employees’ retention are compensation and pay, personal development, job security, job satisfaction, work-life balance, reward and recognition, training, leadership, relationship and communication, and work environment. Seven main challenges to retain Generation Y employees identified are loyalty, their love for a challenging job, communication, strategy, working style, satisfaction, and traits. The study discusses implications and suggestions for organisational level strategies to retain Generation Y employees.