Exploring the Factors of Employee Engagement and their Impact on Organisational Citizenship Behaviour and Intention to Stay with Reference to Millennial Employees of Private Sector Banks in Chennai

P. Kanchana ()
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P. Kanchana: SRM Institute of Science and Technology, Assistant Professor, Department of Commerce (Shift –II), Faculty of Science and Humanities

A chapter in Proceedings of the 3rd International Conference on Reinventing Business Practices, Start-ups and Sustainability (ICRBSS 2023), 2024, pp 797-808 from Springer

Abstract: Abstract Commercial banks in India perform a wide range of functions, including managing foreign exchange, enabling payments, releasing deposits, offering investment services, making loans, promoting financial inclusion, and preserving stability in the financial system. Private sector banks give the Indian banking sector competitive advantages in terms of customer care, efficiency, technology, credit expansion, and job opportunities. Particularly in the private banking industry, a company's capacity to engage its workers is critical to its success and ability to stay competitive. Higher levels of commitment, productivity, and a strong desire to give value to their company are often displayed by highly engaged personnel. Since private sector banks predominate in Chennai's banking sector, it is imperative to understand the factors driving millennial employees’ job engagement and the outcomes they generate. A mixed-method survey was employed in the study to gather primary data from 125 millennial employees who had worked in the business for at least two years. The results of the study showed that, in comparison to their peers, millennial workers at banks belonging to the elder generation had a more positive assessment of employee engagement, OCB, and intention to stay. Employee credentials had a major impact on their intention to stay, OCB, and level of engagement. Additionally, a high positive correlation between employee engagement, OCB, and intention to stay was found in the study. “Work Environment” was the element that most significantly impacted the prediction of millennial employees’ intention to stay among all the factors that were evaluated. The study advises private sector banks to routinely evaluate the elements influencing employee engagement, OCB, and intention to stay among millennial employees in light of these findings. In the end, this proactive approach can help bank management attract, engage, and retain talented millennial workers, which will help the private sector banks in Chennai grow and succeed over the long run.

Keywords: Millennials; Engagement; Organisational Citizenship Behaviour; Intention to Stay; Leadership and Management Practices; Work Environment; Person-Job-Fit (search for similar items in EconPapers)
Date: 2024
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DOI: 10.2991/978-94-6463-374-0_68

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