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