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Daly Aune, Tara (2018) Recruitment and Retention of Millennials: Does the millennial cohort tend to choose organisational culture over financial compensation in work related decisions? Masters thesis, Dublin, National College of Ireland.
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Abstract
One of the biggest challenges facing organisations is the recruitment and retention of millennials (Kapoor and Solomon, 2011). This research addresses this situation in relation to the Irish labour market. As millennials are quickly becoming the largest demographic in the workplace, this can translate into very real costs for businesses (Bolelli and Durmus, 2017, Seago, 2016). This study aims to examine the decision-making tendencies of Irish millennials in accepting a job, and also in staying with an organisation. A survey of 90 respondents within the millennial generation was conducted. The data collected examined whether Irish millennials tend to choose each of one of four aspects of organisational culture over 10% above the financial salary for their industry when deciding to take a job offer, and also examined the same criteria for deciding to stay in a job role or leaving for 10% above the financial salary for the industry. In accordance with existing literature, Irish millennials tend to choose organisational culture over financial incentive in accepting, and remaining in a job role. These findings can add to the existing research and provide further recommendations on restructuring existing organisational policies to incorporate a more flexible workplace, with career opportunities, training and development, and feedback all clearly visible attributes in the organisational culture of an organisational, with a view to lowering recruitment and turnover costs.
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