Exploring Managers’ Perspective on Factors Affecting Generation Y Retention

• Main Authors: Dideana, Thompson, Agatha Lamentan, Muda
• Format: Article
• Language: English
• Published: Universiti Malaysia Sarawak 2021
• Subjects: H Social Sciences (General)
• Online Access: http://ir.unimas.my/id/eprint/37406/1/employee1.pdf; http://ir.unimas.my/id/eprint/37406/; https://publisher.unimas.my/ojs/index.php/JCSHD; https://doi.org/10.33736/jcshd.3798.2021
• Institution: Universiti Malaysia Sarawak

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.