UGB301 Dissertation: Retention of Millennials in the Workplace

This dissertation, a comprehensive business research project, investigates the critical issue of millennial retention in the modern workplace. It begins by outlining the research aims, objectives, and questions, emphasizing the challenges human resource departments face in retaining this generation. The study delves into the literature review, examining theories and factors affecting millennial retention, such as the generation gap and career development. The research employs a mixed-methods approach, including both qualitative and quantitative data analysis, to explore the reasons behind employee turnover and identify effective retention strategies. The findings highlight the impact of generational differences, career development opportunities, and company initiatives on millennial employment. Ultimately, the dissertation concludes with recommendations for organizations to improve their retention rates and foster a more engaged and satisfied millennial workforce.

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BUSINESS RESEARCH DISSERTATION : UGB 301
YOUR NAME
YOUR REGISTRATION NUMBER
YOUR UNIVERSITY EMAIL ADDRESS
YOUR SUPERVISOR’S NAME
YOUR PROGRAMME [eg BA Business & Marketing]

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Retention of millennials generation in the 21st century
Declaration
‘No component of the work referred to in this project has been submitted in support of any application for
another qualification for this or any other University or Institute of Learning’ and complies with the University
Infringement of Assessment Regulations.
Signed and Date
……………………………………………………………………………………………………………………..…
WORD COUNT

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Table of Contents
Acknowledgement...........................................................................................................................7
Abstract............................................................................................................................................8
Chapter 1: Introduction..................................................................................................................11
1.1 Overview..............................................................................................................................11
1.2 Problem statement...............................................................................................................11
1.3 Research aim........................................................................................................................12
1.4 Research objectives.............................................................................................................12
1.5 Research questions...............................................................................................................12
1.6 Research Rationale..............................................................................................................13
1.7 Structure of the paper...........................................................................................................14
Chapter 2: Literature Review.........................................................................................................16
2.1 Introduction..........................................................................................................................16
2.2 Employee retention..............................................................................................................17
2.3 Factors affecting Employee Retention of Millennials in Workplace..................................19
Generation Gap..........................................................................................................................19
Career Development..................................................................................................................20
No Initiatives Taken by the Firm...............................................................................................21
2.4 Theories...............................................................................................................................22
2.5. Conceptual framework........................................................................................................23

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Chapter 3: Research Methodology................................................................................................25
3.1 Ethical Considerations.........................................................................................................27
Chapter 4: Data Analysis and Findings.........................................................................................30
4.1 Qualitative Analysis.............................................................................................................30
4.1.2 Summary...........................................................................................................................33
4.2 Quantitative Analysis...........................................................................................................34
4.2.1 Reliability and validity test...............................................................................................34
4.2.2 Frequency tables and charts..............................................................................................35
4.3 Descriptive statistics............................................................................................................43
4.3.1 Correlation Matrix............................................................................................................44
4.3.2 Cross tabulation................................................................................................................45
Chapter 5: Conclusion...................................................................................................................48
5.1 Conclusion and Key findings...............................................................................................48
5.2 Recommendations................................................................................................................49
5.3 Future Scope and Limitation...............................................................................................50
References......................................................................................................................................51
Appendix........................................................................................................................................54
The interview notes....................................................................................................................54
Survey........................................................................................................................................58

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Acknowledgement
I would like to express my appreciation to my professor… who has had the essence of
intelligence and continuously convinces me to perform considerably well. Without the guidance,
I would not have been able to complete the dissertation.
In addition to this, I would also like to express my gratitude towards my committee members
who assisted me to gain expert knowledge and were able to guide me accordingly. Moreover, I
would also like to my parents and colleagues as well as my friends for their constant help and
assistance.

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Abstract
The millennials are a new generational audience who have a different thought process and prefer
doing the procedures in a different mannerism. The study is focused on the reasons why the
millennial retention at the workplace is considerably difficult and why the human resource
department finds it difficult to achieve success in the long run. The paper begins with an
introduction which lays down the overall research aims as well as the objectives along with the
description of the structure of the paper. The literature review has proved to be effective in
analyzing the different kinds of issues which have been faced by the employees in the
organizations. With the help of the Zinger’s Model and Maslow’s Hierarchy Theory, it has been
identified that it will be appropriate for the overall success of the firm. The different kinds of
issues regarding the employee retention can be adopted as it can be helpful in retaining
employees in an effective manner. The third section represents the Research methodology
adopted for the paper. The fourth section of the paper describes the Analysis whereby the
Qualitative and Quantitative section of the report has been presented which reflects that the
generational gap, career development and the initiatives of the firm, have a strong impact on the
overall employment of the millennials in the firm. The last chapter presents the recommendations
and conclusion to improve the scenario.

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List of figures and Tables
Table 1...........................................................................................................................................27
Table 2...........................................................................................................................................27
Table 3...........................................................................................................................................27
Table 4...........................................................................................................................................28
Table 5...........................................................................................................................................28
Graph 1..........................................................................................................................................28
Table 6...........................................................................................................................................29
Graph 2..........................................................................................................................................29
Table 7...........................................................................................................................................30
Graph 3..........................................................................................................................................30
Table 8...........................................................................................................................................31
Graph 4..........................................................................................................................................31
Table 9...........................................................................................................................................32
Graph 5..........................................................................................................................................32
Table 10.........................................................................................................................................33
Graph 6..........................................................................................................................................33
Table 11.........................................................................................................................................34
Graph 7..........................................................................................................................................34
Table 12.........................................................................................................................................35
Graph 8..........................................................................................................................................35
Table 13.........................................................................................................................................36
Table 14.........................................................................................................................................37

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Table 15.........................................................................................................................................37

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Chapter 1: Introduction
1.1 Overview
The modern era of millennials has brought about a huge change in the overall dynamics
of the workplace. These millennials tend to have different demands than the previous generation
of individuals and in line of this, it can also be mentioned that to take a decision in regard to
going to work or not going to work can be considered as one of the most crucial questions which
any millennial tends to ask himself (Özçelik 2015). The main issue related to the millennials in
the workplace can be clearly stated to be the issue of retention. As the human society has
diversed considerably, there have taken place a great variety of challenges like the challenge
related to diversity in gender, the ethnicity, the race of the people involved in the firm and the
generation gap which exists in the firm. The human resource management have found it
considerably difficult to ensure that they are able to retain the particular individuals in the
workplace due to their creativity as well as efficiency. However, irrespective of trying to
undertake various steps, the organizations have not been able to retent the employees and hence,
the overall challenges related to the organization with respect to the cost and other purposes have
increased considerably. For this reason, the primary purpose of the paper can be stated to be to
develop a solution in regard to the retention of the young millennials as present in the workplace
and to find the different methods how a business can incorporate the young and meaningful
relationships and ensure that they are able to entrance a meaningful careers which will then
enable them to close the overall gaps.

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1.2 Problem statement
The millennials are the target focus of all the companies as present in the business
environment today. With respect to this, it has become considerably important for any business
organization to take into consideration and ensure that they are successfully able to target the
millennials as present in the workplace and in addition to this, are also able to utilize the talent
which exists in the realm of the firm (Özçelik 2015). However, the millennials have different
ideologies at the workplace and it is this ideology which then motivates them to work
accordingly and very often the employee retention rate of the millennials at the workplace can be
understood to be considerably very low. Hence, in regard to this, this paper aims to propose a
research which will provide solutions to the organizations in order to undertake initiatives which
will help them in retaining the different employees as present in the workplace.
1.3 Research aim
The aim of the research can be stated to be to find the appropriate solutions in order to
enable the firm to retain the different millennial employees as present in the workplace and to
ensure considerable efforts to associate them with the firm can be made in order to ensure that
the overall gap between the different members can be overcome.
1.4 Research objectives
 To understand the reason why the different millennials tend to leave the organizations.
 To analyze the reason why the different millennials are not able to retain at a workplace.
 To find the solutions which can be recommended to the different firms through which
they will be able to retain the millennials as present in the organization.

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 To provide recommendations to the different organizations based on which they will
successfully be able to find adequate success while employing the different millennials at
the workplace.
1.5 Research questions
1. Why do the different millennials tend to leave the organizations?
2. What are the reasons why the different millennials are not able to retain at a workplace?
3. What are the solutions which can be recommended to the different firms through which
they will be able to retain the millennials as present in the organization?
4. What recommendations can be made to the different organizations based using which
they will successfully be able to find adequate success while employing the different
millennials at the workplace?
1.6 Research Rationale
Hence, from the given analysis it can be rightfully understood that the different
organizations have been facing considerable issues with respect to the retention of the employees
at the workplace and it is with respect to this that the human resource departments of the
different organizations are finding it increasingly difficult to ensure success in the long run.
Moreover, even when these employees are present in the organization, they are not being able to
gel with the different employees and have a considerably new set of demands which will enable
them to perform well. In addition to this, when these employees are unable to retain themselves
in the firm, they create a poor impression in the eyes of the other employees as well. In line of
this, the human resource department of the organization has been facing considerable problems
which has then enabled them to search certain ways and device certain strategies, using which