Factors Influencing Turnover Intention of Millennial Employees a Study Within the Financial Services Sector in Jakarta

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Salsabilla, Adinda Thalia (2020) Factors Influencing Turnover Intention of Millennial Employees a Study Within the Financial Services Sector in Jakarta. Undergraduate thesis, Sekolah Tinggi Manajemen IPMI.

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Abstract

As millennials are rising to control the Indonesian workforce, they have become an important asset for companies to pursue sustainable growth. According to the 2019 Indonesia Total Remuneration Survey by Mercer, the financial services industry in Indonesia has the highest voluntary turnover rate at 14% compared to its previous year's trnoer rate of 12% and other indstrs trnoer rate at 10%. While man driing factors play a significant role in the high turnover rate, there are many studies that suggest millennials different ork preferences as one of the leading factors. There have been a growing number of studies that look into the factors influencing employee turnover intention. However, research on the effect of these factors on turnover intention in the specific context of Indonesian millennial employees in the financial service industry has not been conducted. Therefore, analysis for the affecting factors is needed to develop human resources management strategies to attract and retain millennial employees by understanding the factors that would lead them to leave their current jobs. This research uses multiple regression models with SPSS Statistics Version 25. The researcher has managed to collect 130 millennial respondents from several financial services firms in Jakarta and this research found that the millennial employee turnover intention is significantly influenced by Perceived Career Opportunities and Fair and Accurate Performance Appraisals. Suggestions in this research include how companies should increase the opportunity to improve employees' potential and provide opportunities to develop their careers and how expanding the frequency of performance feedback by applying real-time feedback techniques accomplishes the same outcomes with added benefits for performance development. Keywords: Turnover Intention, Millennials, Human Resources Management, Financial Services Sector

Item Type: Thesis (Undergraduate)
Subjects: H Social Sciences > HD Industries. Land use. Labor
Divisions: Thesis > Bachelor of Business Administration
Depositing User: Dede Faujiah
Date Deposited: 02 Feb 2021 06:59
Last Modified: 02 Feb 2021 06:59
URI: http://repository.ipmi.ac.id/id/eprint/1086

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