Title: Formulating and redesigning retention policies for millennial at manufacturing industries of Bangladesh

Authors: Md. Mahamudul Hassan; Sabrina Nushrat Islam; Manimekalai Jambulingam; Mohammad Nurul Alam; Sharif Hosen

Addresses: Business School, Taylor's University, Malaysia ' Faculty of Health Sciences, Atish Dipankar University, Bangladesh ' Business School, Taylor's University, Malaysia ' The College of Graduate Studies, Universiti Tenaga Nasional, Kajang, Malaysia ' Faculty of Educational Studies, Universiti Putra Malaysia, Malaysia

Abstract: The manufacturing industries of the private sector play a significant role in the overall development of any country. Despite its phenomenal success, private sectors are facing enormous challenges due to the frequent turnover. These turnovers took place due to the absence of job satisfaction, whereas turnover causes massive overt and covert losses. The study reveals that this emerging problem is likely to continue in the future also. Therefore, the objective of the study was to observe the mediating role of job satisfaction on integrated retention strategy for retaining the millennial employees. SPSS and SEM (AMOS) were used to analyse the data. The results show a significant positive relationship with retention, job satisfaction, and millennial retention factors (servant leadership, management initiative, soft HRM, work-life balance). The study concluded by highlighting the recommendations, contributions, limitations, and research directives for future researchers.

Keywords: retention; policy; millennial; Generation Y; mediation; job satisfaction; HRM; turnover; Generation Y; Bangladesh.

DOI: 10.1504/IJBG.2023.133268

International Journal of Business and Globalisation, 2023 Vol.34 No.3, pp.265 - 293

Received: 24 Feb 2020
Accepted: 10 Mar 2020
Published online: 11 Sep 2023 *

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