AN EMPIRICAL STUDY ON FACTORS THAT HELP IN RETENTION OF MILLENNIALS IN THE ORGANIZATION

Abstract

Children born in the 80s and 90s, the Millennials are today’s 20 to early-30-somethings, poised to make up the majority of the workforce by 2025, and already an important part of the working population. Millennials (also known as ‘Millennials’) are the first generation of ‘digital natives’ – tech savvy and connected, rarely without a mobile phone or tablet. They have more formal education than any generation in history, and have mastered multitasking through early exposure to a wide range of media. Aside from Millennials (born 1980-1999) the current workforce also includes Generation X (born 1960-1979) and the Baby Boomers (born 1940-1959). Differing attitudes, priorities and habits between these groups are a potential source of conflict but also present exciting opportunities to make the most of the broad range of skills and experience available in such a diverse workforce. Understanding what motivates Millennials, as well as how they perceive their employers and their colleagues, is essential to attracting them to an organization and ensuring that they can maximize their effectiveness as employees and potential leaders. The objective of this study is to examine the relationship between the factors which are compensation, leadership, training and development, working environment, work-life balance and job satisfaction with the employee retention. The target respondents are the Millennials workers work in different industries. The study employed the quantitative approach by distributing questionnaire to Millennials. The samples will be analyzed by the statistical software SPSS. The demographic profile of respondents will be analyzed. The reliability test, Pearson Correlation Analysis and Multiple Regression Analysis will be carried out in this study to determine the relationship among various factors to retain millennials in the organization.