Philippine E-Journals

Determinants of Millennial Employee Retention in Selected Philippine Workplaces

Merlita Medallon

 

Abstract:

There were estimated 47.1% of the more than 66 million Filipino workers identified as millennial and are occupying a relatively large portion of the Philippine economy. Thus, millennials in the workplace should be given more attention. This study examines the level of importance of the job factors in terms of work conditions, human relations and benefits derived in the workplace as it determines their stay in the company. A total of 1142 Filipino millennials, aged 22 to 37 employed in three different work sectors: Education, Information Technology and Manufacturing were the respondents of the study. A three-part researcher developed questionnaire was utilized. There were nine factors predicting employee retention: professional and career development, coaching and mentoring, recognition, work life balance, compensation, benefits and rewards, management and leadership, work conditions, relationships, and job flexibility. Half of the respondents are female and with ages from 22 to 25 years old. Majority of the respondents have college degree and have stayed in the company for at most 6 years. Filipino millennial respondents assessed the top five factors as compensation, benefits and rewards; relationship; work conditions; job flexibility; and management and leadership. All the nine factors of retention were assessed significantly different among the nature of job and among education levels. Two factors, work conditions and relationships were assessed significantly different among gender. There are also significant differences in the factors when grouped by age. The length of stay of Filipino millennials in their jobs is determined by age, education, and the factors compensation, recognition, and job flexibility.