An Investigation on Extrinsic and Intrinsic Rewards on Employee Retention among Gen Y: A Study in Malaysian Manufacturing Companies

Abstract

The aim of this study is to investigate the relationship between extrinsic and intrinsic reward on retention among Gen Y employees in Malaysian manufacturing companies. The data was collected from 113 respondents worked in manufacturing companies located in Seri Kembangan, Selangor using questionnaires. Multiple regression analysis was conducted to test the hypotheses. The results showed both extrinsic and intrinsic reward are the factors influencing retaining Gen Y in manufacturing companies. The discussion on the analysis, limitation of the study, recommendation for future research and conclusion were discussed at the end of this study. In a nutshell, it was proven extrinsic reward and intrinsic reward has contributed to the retention of Gen Y employees.

Effect of Self-Determination Theory (SDT) Elements on the Retention of Nurses at the University of Calabar Teaching Hospital (UCTH), Calabar, Nigeria

“…This sheds light on the significance of cultivating an environment that nurtures intrinsic motivation to enhance employee retention rates, thereby potentially contributing to the overall success and stability of telecommunication firms operating in Pakistan. Similarly, the findings of the study by Hassan and Govindhasamy (2020) revealed that intrinsic rewards (autonomy, orientation of workplace, competence and relatedness) significantly enhanced employee retention in Malaysian manufacturing companies. This study underscores the importance of intrinsic motivational factors in retaining employees, suggesting that when employees feel empowered, valued, and connected within their workplace, they are more likely to remain committed to their organization.…”

Pengaruh Training and Development, Servant Leadership, Dan Reward Terhadap Employee Retention Di Mediasi Oleh Employee Engagement Pada Restoran Di Kota Batam

“…Gambar 1. Model Penelitian Sumber : Modifikasi model dari (Sepahvand & Khodashahri, 2021), (Xuecheng et al, 2022), dan (Hassan & Govindhasamy, 2020).…”

“…Kemudian hasil penelitian ini menunjukkan bahwa penghargaan dapat meningkatkan motivasi karyawan sehingga meningkatnya juga keterlibatan karyawan terhadap restoran tersebut. Penelitian ini berjalan sesuai dengan penelitian terdahulu yang dibuat oleh (Alhmoud & Rjoub, 2020;Mellyana et al, 2021;Hassan & Govindhasamy, 2020;Amadi et al, 2021). (Geh Ming et al, 2021;Ramalu & Kalimuthu, 2022).…”

“…Karyawan yang merasa dihargai dan termotivasi cenderung memiliki tingkat employee engagement yang lebih tinggi sehingga meningkatnya juga retensi karyawan. Penelitian ini berjalan sesuai dengan penelitian terdahulu yang dibuat (Hassan & Govindhasamy, 2020;Fernando & Nishanthi, 2021;Zainal et al, 2022;Kamselem et al, 2022).…”

Analisis Faktor-Faktor Determinanan Turnover Intention Pada Generasi Y Di Bank Syariah Indonesia Kota Semarang

“…Y Generation has its characteristics in its demand for appreciation and support from the company, one of the supports that Y Generation employees want is rewards. (Hassan and Govindhasamy, 2020). Ali, Amin, and Hamid (2016) argue that there are two types of rewards, extrinsic rewards, and intrinsic rewards.…”