THE RELATIONSHIP BETWEEN KEY FACTORS AND GEN Z EMPLOYEE RETENTION IN INDONESIAN FMCG START-UPS

• Main Author: Jupaka Syahputra, Muhammad
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/85945
• Institution: Institut Teknologi Bandung

Both qualitative and quantitative data analysis are used to examine the relationship between important determinants and Gen-Z employee retention rates in the workplace. The study seeks to explore the factors that affect Gen-Z employee retention, particularly in startups. Qualitative interviews revealed financial needs, strong career progression expectations, and the negative consequences of extended working hours on job satisfaction and retention. Descriptive statistics, multiple linear regression, and t-tests validated the qualitative findings and investigated other retention rate determinants. Descriptive data analysis used mean, median, standard deviation, and standard error to summarize the data. Multiple linear regression examined dependentindependent relationships, whereas the Jarque-Bera test checked data normality. GenZ employee retention is driven by financial incentives, work-life balance, and an open and collaborative workplace culture, according to the survey. Financial gain, complete employee perks, and feeling financially rewarded were highlighted as important determinants in employee economic security. Financial factors, along with a supportive work atmosphere that encourages communication and teamwork, increased Gen-Z job satisfaction and loyalty. Quantitative and qualitative evidence showed that Gen-Z retention is driven by financial factors, office settings, and better job offers elsewhere. Finances had the most impact. Minor problems including an improper employment system, globalization, and Gen-Z's risk-taking were also noted. Due to the ease of access to job, salary, and career information, globalization helped Gen-Z employees make informed employment decisions. Risk-taking daring also affected retention rates. ii Comparison of multiple linear regression findings with and without control variables revealed retention rate components. Significant variables in the regression equations were financial gain, employee benefits, feeling monetarily rewarded, promotion chances, communication, collaboration, and age. Finances, work-life balance, and an open, collaborative business culture are essential for Gen-Z retention, according to the survey. The research shows that Gen-Z startup employees are most affected by financial needs and career progression expectations. Job discontent and turnover can result from unmet financial or career expectations. Startups must focus employee financial demands and comprehensive career development initiatives to retain Gen-Z talent. Research on Gen-Z retention determinants should be longitudinal, according to the study. Comparative studies between startups and other companies and intersectional research on gender, socioeconomic background, and cultural diversity and retention are also recommended. To understand the complex dynamics underpinning Gen-Z employees' business loyalty, in-depth qualitative study on their sentiments, expectations, and motives is recommended. This study emphasizes the importance of financial security, professional advancement, and a supportive work environment in Gen-Z employee retention. By enhancing Gen-Z employee job satisfaction and loyalty, firms can boost retention rates.