Impact of Intrinsic Motivational Factors on Employee Retention among Gen Y:A Qualitative Perspective

Employee commitment, high productivity and retention strategies are the most serious human resource management challenges of the upcoming future. In this scenario employee turnover has a significant impact on decline of productivity and failure of corporate plans. The significance of motivation in retaining key employees cannot be overlooked. Extrinsic motivation is driven by reinforcement contingencies which is not sufficient, so it should be guided by intrinsic motivation which involves interesting job and making it pleasurable. Today's organizations are facing immense challenge because of fulfilling the requirements of four generational cohorts. Present workforce is dominated by generation y employees who have different values system and requirements in comparison to previous generations. Therefore it is vital for the organization to chalk down their needs and design an effective motivational system which will increase their productivity. This paper aims to focus on qualitative analysis to explore different intrinsic motivational factors influencing generation y employees and their preference for motivation. Conclusion and implications for further research have been drawn from the analysis.