Some organization lacks effective strategies to retain millennial-generation employees and according to research, Millennials are becoming the predominant generation in the workforce today. The purpose of this study was to understand and explore effective strategies to retain bakeshop-educated millennial employees.
HC theory provides the factors to be considered and guides the study. It is critical for Bakeshop organizations to recognize and understand the strengths and challenges in a multigenerational workplace to maximize performance and reduce turnover. Among the Human Capital theory, 17 factors the most considered were a.) leadership of superiors, b.) company culture, and c.) compensation and rewards.
Bakeshop organizations need to be able to attract retain Millennials to build a strong workforce to prepare for a changing and connected future. This study examined the factors that contributed to turnover among Millennials in the Bakeshop organizations within the City of Cebu.
Employees who have a high turnover rate are frequently unsatisfied with their jobs or the organization they work for. A proactive approach to turnover can be taken if a company focuses on learning what makes employees happy and keeps them. To put it another way, companies should stop focusing solely on cutting turnover rates. It appears that knowing why employees stay is more important than knowing why they depart.
Table of Contents
1. THE PROBLEM AND ITS SCOPE
1.1 Introduction
1.2 Theoretical Framework
1.3 Operational Research Process
1.4 Statement of Purpose
1.5 Significance of the Study
1.6 Definition of Terms
2. REVIEW OF RELATED LITERATURE AND STUDIES
3. RESEARCH METHODOLOGY
3.1 Research Design
3.2 Research Environment
3.3 Research Respondents
3.4 Research Instrument
3.5 Data Gathering Procedures
3.6 Statistical Treatment of the Data
3.7 Ethical Considerations
4. PRESENTATION, ANALYSIS, AND INTERPRETATION OF THE DATA
4.1 Research Findings
4.2 The Output of the Study
4.3 Summary
5. SUMMARY OF FINDINGS, CONCLUSIONS, AND RECOMMENDATIONS
5.1 Summary of Findings
5.2 Conclusions
5.3 Recommendations
Research Objectives and Themes
This thesis aims to investigate the factors influencing the turnover intention of millennial employees within bakeshop organizations, utilizing the Human Capital Theory as a framework to identify strategies for improved retention and performance.
- Analysis of Human Capital Theory factors influencing career decisions.
- Evaluation of millennial employee turnover intentions in the bakeshop sector.
- Identification of significant individual and organizational factors affecting job retention.
- Development of a customized retention program for millennial employees.
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The intrinsic problem with HC, however, is that, unlike the firm's organizational capital (patents, databases, and so on), HC can just walk out the door and never return (Coff and Raffie 2015). As a result, it's easy to see why HC management and monitoring are critical, and why HC is becoming a crucial strategic issue for businesses (Boudreau and Ramstad 2007, Thomas et al 2013, Ployhart et al 2014). Furthermore, there is a growing body of literature that shows a beneficial relationship between HC development and performance at both the individual and organizational levels (Becker 1993, Hitt et al 2001, Hatch and Dyer 2004, Kor and Mahoney 2005, Crook et al 2011, Crocker and Eckardt 2014). It may be argued that HC management should prioritize attracting and retaining the top personnel. Talent management, on the other hand, is merely one aspect of the issue. Employees' talents and capacities must also be used by the organization, which must encourage individual and organizational learning as well as provide a supportive atmosphere in which knowledge may be developed, shared, and utilized.
Summary of Chapters
CHAPTER 1: This chapter defines the problem, introduces the theoretical framework centering on Human Capital Theory, and outlines the research objectives regarding millennial turnover.
CHAPTER 2: This chapter provides a comprehensive review of related literature and studies concerning human capital, millennial generation characteristics, and organizational turnover.
CHAPTER 3: This chapter details the research methodology, including the descriptive-correlational design, participants, and statistical tools used for the study.
CHAPTER 4: This chapter presents the analysis and interpretation of the data collected from survey respondents regarding factors influencing their turnover intentions.
CHAPTER 5: This chapter concludes the study by summarizing findings, drawing conclusions, and providing actionable recommendations for bakeshop organizations to improve retention.
Keywords
Millennials, Employee retention, Generation, Turnover intention, Human Capital Theory, Bakeshop, Organizational development, Talent management, Leadership, Job satisfaction, Workplace flexibility, Human resources, Career development, Retention strategy, Work-life balance.
Frequently Asked Questions
What is the core focus of this research?
The research focuses on assessing the turnover intentions of millennial employees in bakeshop organizations by examining factors within the Human Capital Theory.
Which generation is the primary subject of this study?
The study examines the millennial generation, specifically employees born between 1981 and 1996.
What is the main objective of the thesis?
The objective is to identify which human capital factors influence millennial turnover and to propose an effective retention program for bakeshop organizations.
What research methodology was employed?
The study utilized a quantitative, descriptive-correlational research design, collecting data through survey questionnaires.
What are the key areas covered in the main body?
The main body covers individual and organizational factors influencing human capital, a literature review of relevant theories, and the presentation of empirical findings.
How would you characterize the key themes?
The key themes include human capital management, millennial workplace preferences, turnover cost, and strategic talent retention.
How does the business environment impact the findings?
The study considers that the bread baking franchise industry in Cebu City relies heavily on a workforce that requires specific leadership and engagement strategies to remain competitive.
What role does the Human Capital Theory play in the findings?
The theory serves as the analytical lens through which seventeen identified factors (individual and organizational) are measured to determine their influence on employees' decisions to stay or leave the organization.
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- Alan Salmero (Autor:in), 2022, Validating Human Capital Theory through the Analysis of Factors Causing Millennial Employees to Leave the Organization. A Study in the Bakeshop Organizations in the City of Cebu, München, GRIN Verlag, https://www.grin.com/document/1463729
