Key factors influencing Generation Y employee retention: mediating role of job satisfaction

Md Mahamudul Hassan, Manimekalai Jambulingam and Elangkovan A.L. Narayan

International Journal of Business Innovation and Research, 2021, vol. 26, issue 3, 296-327

Abstract: The purpose of this empirical analysis was to investigate the impacts of potential retention factors in a non-western context at the private sectors against the incur losses due to frequent turnover of Generation Y employees. To assess the effects of key retention factors, CB-SEM was used by employing a questionnaire-based survey. Responses were collected from 500 Generation Y employees from Bangladeshi private sectors. The outcome of the study revealed that servant leadership, management initiatives, soft-HRM, and work-life balance have a significant positive relationship with retention of Generation Y employees. Job satisfaction also positively mediated the relationship between these retention factors and Generation Y employees' retention. Certainly, the present study enriched the paucity of Generation Y employee retention related literature in the study context. Result revealed that all the stakeholders of private sectors need to give emphasis on recommended retention friendly strategy against the losses caused by the Generation Y employees' frequent turnover.

Keywords: millennial; Generation Y; retention factors; private sectors; human resource management; servant leadership; management initiatives; soft-HRM; work-life balance and turnover. (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijbire:v:26:y:2021:i:3:p:296-327

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