Employee Retention is a Challenge among Millennial Employees
The current workplace is comprised of people from two popular generations. Individuals who were born after 1965 but before 1980 are referred to as generation X while their counterparts, the millennial, came after 1981. The environment in terms of technology was different for both generations, and thus their experiences in the workplace are different. One of the significant differences between generation Xs and the millennial generation is employee retention for employers.
Problem Statement
The departure of employees leaves long-term impacts on any institution, especially where the leaving employees are productive. The general problem is that most employees have not managed to address the issue of employee retention associated with millennial retention since most strategies were developed for generation X employees. The millennial employees generally have a low employee retention (Sun, 2018). A specific problem assessed is that managers lack strategies to address employee retention for employees from the millennial generation.
Purpose Statement
The purpose of this study entails assessing the existing strategies for managers of various institutions. The target population includes managers whose institutions have a higher percentage of young employees. Generally, a positive implication of the study involves giving managers an insight into the most effective strategies for improving employee retention among millennial employees. Besides, employee satisfaction occurs differently among employees from various generations and can significantly improve employee retention.
Research Questions
The motivation behind this study is the need for a solution for various research questions. First, the assessment of existing strategies is done to check whether the models have been significant. Also, the study examines whether the objectives of the various techniques have been achieved and why the strategies have not been providing much-needed solutions. Then, an assessment is done to identify whether new strategies are needed for improved retention and whether the existing strategies should be abandoned.
Nature of Study
A qualitative approach is used for the analysis involved in this study. Generally, the research involves an assessment of the strategies that have been in use to improve employee retention by managers. Qualitative research is based on the use of interviews, and the participation of subjects plays a crucial role (Marshall & Rossman, 2014). The use of open-ended questions provides a perfect avenue to assess individual experiences, and the data provided is primary. Generally, primary data is free from bias because the information does not suffer from unnecessary customization. The various variables involved are significantly different, and qualitative approaches allow for the use of hypothesis testing so that the differences can be analyzed. Moreover, the qualitative approach addresses the limitations associated with other approaches, such as the quantitative approach.
A qualitative approach is always employed to overcome the challenges associated with the quantitative approach. The use of data values in the quantitative approach allows for errors where approximations are used to cater for missing data values. The use of interviews in the qualitative approaches ensures that analysis is only done for the available data values, and approximations are not used. Also, the data used for qualitative analysis is free from bias that may occur when secondary data is used. However, the qualitative approach is not free from limitations. First, the interviewed individuals are not always readily available. Much time may be needed to obtain a significant number of individuals willing to participate in the interviews. However, the research is developed to ensure that the limitations do not affect the results of the study.
References
Marshall, C., & Rossman, G. B. (2014). Designing qualitative research(6th ed.). Thousand Oaks, CA: Sage.
Sun, W. (2018). A Qualitative Exploration of Millennial Employees’ Work-Related Stress and Retention. Recruitment, Retention, and Engagement of a Millennial Workforce, 103.