INFLUENCE OF EXTRINSIC & INTRINSIC FACTORS ON MOTIVATION OF MILLENIALS IN IT INDUSTRY

Abstract

The aim of this research is to identify the different factors (as per Maslow’s hierarchy needs, VIE theory, Herzberg’s theory, ERG theory, McClelland’s theory, etc.) that influence the motivation for the employees in IT industry. A descriptive research was used for this research. Using stratified random sampling technique 150 responses were collected using a questionnaire made for this particular study. The questionnaire gathered information on the levels of agreement from the respondents regarding the different extrinsic and intrinsic facts affecting motivation and the effect of motivation on their performance. The key findings of the study were that extrinsic factors such as salary structure, fringe benefits, bonuses, relationship with managers, the style of leadership, the way of communication of the organisation, promotion opportunities, job security, physical environment and freedom given to carry out the responsibilities impacted their motivation level. Intrinsic factors such as meaningful work, recognition, skill variety, trust, autonomy given, and work -life balance and employee engagement impacted their motivation level. Motivation levels impacted the employees’ productivity, their practising of safety procedure and the turnover of the employees.