A Study on Employee Engagement of

Millennial’s in the IT and Banking Sectors

Authors:
Ms Anuradha Pundkare (Student, IBS, Pune)
Prof Anupama Tadmarla (Associate Dean, IBS Pune)
Dr Pallvi Vadehra (Faculty, IBS Pune)

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 Table of Contents

Sr.no Particulars Page no

1 Acknowledgement 3
2 List of Tables 4
3 Abstract 5
4 Introduction 6
4 Objectives 8
5 Limitations 8
6 Research Design 9
7 Review of literature 10
8 Empirical Analysis 12
9 Findings and Suggestions 14
10 Conclusion 15
12 References 16

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 ACKNOWLEDGEMENT

I am greatly indebted to the authorities of ICFAI Business School,

Pune, for providing us with necessary facilities to successfully carry out
this research on ‘A study of employee engagement of millennials in IT
and Banking Sector’

I thank and express my solicit gratitude to Prof. Anupama Tadamarla,

(Associate Dean, IBS Pune) and Dr. Pallvi Vadehra (Faculty IBS Pune)
for her suggestions and encouragement in successfully carrying out this
research

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 LIST OF TABLE

SR. NO TABLE NAME PAGE

NO.

1 Gender Table 12

2 Statistics Table 12

3 Frequency Tables 13

4 Regression Table 14

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ABSTRACT:
Employee Engagement is a complex and challenging goal for any
organization. Employee engagement plays a very important and
fundamental role in government and private sectors. An engagement-
friendly culture is valuable as it considers the value of multi-
generational and multi-cultural workforce. It is important for the
organization to realize the importance of employee engagement
program for all the employees.
This study was directed to find out the effect of employee engagement
on Job satisfaction of millennial. A specific emphasis is given on
understanding Millennia’s needs and expectations. A focus is also given
in understanding as how these employees motivates themself and how
it is different from generation x employees. Primary and secondary data
will be used to carry out the research.
A study will be conducting on a sample of 200 private banks and IT
company employees with help of a survey methods.

Keywords: Employee engagement; Banks, IT Sector; Job satisfaction;

Motivation; Job Enlargement

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Introduction:
Employee engagement is a workplace approach resulting in the right
conditions for all members of an organisation to give of their best each
day, committed to their organisation’s goals and values, motivated to
contribute to organisational success, with an enhanced sense of their
own well-being.
Employee engagement is based on trust, integrity, two way commitment
and communication between an organisation and its members. It is an
approach that increases the chances of business success, contributing to
organisational and individual performance, productivity and well-being.
It can be measured.
With increasing technology and new opportunities there are regular
changes seen in the It as well as Banking sector. It has always been a
challenge to retain talented people in the organisation. Not just
retaining them but fully engaging them capturing their minds and hearts
at each stage of their work life.
Baby boomers were born between 1963 -1982 while Millennials are
born between1982-1999. There is a contrast seen in the attitudes and
behaviour between Millennials and Gen X.
The core values of these two generations also are incredibly
contrasting. For instance, gen X believes in anti-war, anti-government,
equal rights, equal opportunities. They are extremely loyal, have a
sense of optimism and seek personal gratification. They also believe in
saving for future wants and needs. On the other hand Millennials are
smart and realistic. They are extremely tech savvy and impatient. They
are self-confident, sociable and loves personal attention and
recognition.
In work places baby boomers prefer flat hierarchies that are
democratic. They seek equal opportunities and a warm and friendly
environment. Baby boomers grew their careers on traditional media
tactics such as mass advertising or public relations. Baby boomers are
extremely loyal. “Millennials could learn a lot from older employees

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about what it’s like to stay with a single company. Jumping around is a
lot more common today,” explains Braydan Young, FirstJob’s Director
of Business Development.
Now-a-days we can see that millennials are creating a change in how
work gets done. They love to work in teams and make the utmost use
of technologies available. As Leigh Buchanon writes in Meet the
Millennials, “One of the characteristics of millennials, besides the fact
that they are masters of digital communication, is that they are primed
to do well by doing good. Almost 70 percent say that giving back and
being civically engaged are their highest priorities.”
With this social enthusiasm comes the creative mind. This generation
has seen information availability as and when asked for. Google or
Wikipedia have made it very simple to find answer to any tough
question. And Hence millennials have developed a habit of using
technology for every smallest need. This have created a urge in this
generation to take up difficult tasks. Hence sometimes millennials are
said to be challenge takers. In a 2009 article by Tamara Erickson, a
millennial who had been struggling in her role, admitted to peers that,
“I guess I just expected that I would get to act on more of my ideas, and
that the higher ups here would have figured out by now that the
model’s changing.”
A millennial employee will not wait for his opportunity to come, rather
they will create their own opportunity. Hence these people are mostly
fast movers. They need quick responses and if not given will move on
to a better option. Apart from this millennials are always welcoming
feedback. But they are not interested in the traditional annual
feedbacks. They need to know if a certain task is efficiently done by
them or nt. Unlike the Gen X believes in having feedback in the
traditional way.

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Objectives of the Study

 To study the relation between employee engagement and job

satisfaction

 To Understand which factor keeps the employee most engaged in

the organisation

 To know what are the needs and wants of the millennials

Limitations of the Study

 The data provided in the survey may not be accurate as people

don’t tend to give actual information.

 People can be biased towards their answers due to personal

interests.

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Research Design

This research is done to understand the effect of employee

engagement on the job satisfaction of millennials in It and
Banking sector. This survey provides the opinions of Gen Y
employees regarding their job satisfaction and motivation aspects
who are working in the It or banking firms.
For this we have done a survey using questionnaire. This
Questionnaire includes questions regarding various factors which
may affect the employee engagement and their willingness to
work. We have used Staple Scale which is a 5 point scale. Sample
collected is of 200 employees.

1) The main objective is to understand the actual relationship

between employee engagement and job satisfaction. For this
Regression analysis is used where employee engagement is
independent variable and job satisfaction is dependant variable

2) We have used frequency analysis to find out which factor keeps

the employees most engaged in the organisation

Hypothesis
Ho1 = There is no relation between employee engagement and job
satisfaction.

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Literature Review
Millennial’s are having mind-sets for working in a growth and
development environment where they can maintain a proper balance
between their life and work. Engagement of these dynamic people is a
tough task. Thus researchers are trying to understand what factors will
attract them to efficiently work and the strategies to be followed to keep
these energetic people engaged in their jobs.
Whilst there are various facilities and amenities given to employees in
any organisation they can either affect them positively or negatively.
Preeti Thakur, Maharishi Markandeshwar (2014), conducted a
research on “The effect of employee engagement on Job satisfaction in
IT sector”, it was seen that policies and procedures lead to job
satisfaction and therefore, there is appositive relationship between
employee engagement and satisfaction in work done by millennial’s.
Thus we can say that the millennial’s are closely relating themselves to
the company’s internal visions.
Arti Chandani, Mita Mehta, Akanksha Mall and Vashwee Khokar
(2016) mentioned in their paper “Employee Engagement: A Review
Paper on factors affecting employee engagement”, that engaging
employees is a long term task and cannot be accomplished with any
single training program. This a constant healthy environment should be
maintained to increase employees willingness to work.
An intrinsic research was carried out by Dr. Gaurav Jaiswal, Dr.
Ravindra Pathak, Dr. Shib Kumari (2017), to find out the impact of
employee engagement on performance. Their research shows that
there is a positive relation between the satisfaction of employees and
their engagement level. Also it was seen that there is a gender
difference in opinion for employee engagement for motivation but no
difference in Job satisfaction.

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Shoaib Raza, Noor-ul-ain Ansari, Dr. Asad Afzal, conducted a research
on “factors affecting millennial employee engagement in Government
sector”. The purpose of this research was to understand the factors that
influence the millennial mind sets for being dedicated towards their
work. Various factors were assessed and it was found out that rewards
and recognition is the highest affecting factor.
Nivedita Jha, Puja Sarun, Rama Krishna Gupta Potruru, conducted a
research on “Employee engagement for millennials: considering
technology as an enabler”. For millennial being engaged means to get
ample opportunities for their professional growth. Survey was
conducted by contacting HR professional across country and getting
their views on how to effectively engage employees. The results showed
that helping in carrier development and growth, providing feedback on
work done, giving challenging work etc. are the priority factors of
millennial’s.

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 EMPERICAL ANALYSIS:

Gender
Cumulative
Frequency Percent Valid Percent Percent
Valid Female 26 47.3 47.3 47.3
Male 29 52.7 52.7 100.0
Total 55 100.0 100.0

Statistics
What keeps What keeps What keeps What keeps
What keeps What keeps you you What keeps you you
you you engaged - engaged - you engaged - engaged -
engaged - engaged - Work Leadership engaged - Flexible Work Life
Rewards Recognition Allotted Support Motivation Timings Balance
N Valid 55 55 55 55 55 55 55
Missing 0 0 0 0 0 0 0
Mean .00 4.4909 4.2727 3.3273 3.2909 3.2545 4.3091
Std. Error of .322 .322 .322 .322 .322 .322 .322
Skewness
Std. Error of Kurtosis .634 .634 .634 .634 .634 .634 .634
Percentile 25 .00 4.0000 4.0000 3.0000 3.0000 3.0000 4.0000
s 50 .00 5.0000 4.0000 3.0000 3.0000 3.0000 4.0000
75 .00 5.0000 5.0000 4.0000 4.0000 4.0000 5.0000
Skewness -.746 -.444 .022 .230 .261 -.855
Kurtosis -.370 -.877 -.441 -.132 -.150 .126

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Frequency Chart

Series 1

Work Life Balance

Flexible Timings

Motivation

Leadership Support

Work Allotted

Recognition

Rewards

0 0.5 1 1.5 2 2.5 3 3.5

Series 1

Regression Table
Independent Dependant F Sig Beta T Sig Adjusted
Variable Variable R

Employee Job 38.000 .000a .401 6.164 .000 .161

Engagement Satisfaction

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FINDINGS:

1) Relation between Employee Engagement and Job Satisfaction

Ho = There is no relation between employee engagement and job
satisfaction
HA = There is a relation between employee engagement and job
satisfaction
As we can see from the regression table that the F value from the
ANOVA table is 38.00 at .000 level of significance. Apart from this the
beta value from co-efficient table is 0.401 tested through T test values
0.641 testes at .000 level of significance.
R square value is 0.161
Therefore null hypothesis is rejected and significance cause and
relationship was found between Employee engagement and Job
Satisfaction

2) What keeps the employees Engaged

After understanding that employee engagement affects job satisfaction it

is also necessary to know which factor extensively keeps the millennial
generation engaged in their jobs
For this Statistics and Frequency chart for each factor were used.
Rewards was the top most factor that kept the millennials engaged in
their organisation. Hence we can say that millennials are attracted
towards the organisation if they are given rewards and benefits for their
work done.
Millennials as we know crave for getting known for their work done
and this is also seen through the frequency tables. Along with rewards

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and Recognition Millennials are seen favouring towards flexible work
timings and work life balance equally. They love to spend time in doing
extracurricular activities etc. Hence getting enough time out of their
official work for personal work is expected by them

CONCLUSION:

We can hence conclude that millennials are different from the Gen X
in many standards. Unlike Gen X who would keep their work as 1st
priority Millennials will prefer to maintain a healthy work life balance.
Millennials are making the utmost use of technology to ease out the
work process and to increase productivity.
Their needs and wants are totally different from a Gen X employee.
They would prefer to have on spot feedbacks regarding their work
rather than waiting for any annual reports.
However with increasing industrial opportunities in IT as well as
banking sector it is important to keep this energetic work force engaged
in the organisation.

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REFERENCES:

 Ali, R., and Ahmed, M. S. (2009). The impact of reward and

recognition programs on employee’s motivation and satisfaction:
an empirical study. International Review of Business Research
Papers, 5(4), 270-279.
 Preeti Thakur, Maharishi Markandeshwar (2014), “The effect of
employee engagement on Job satisfaction in IT sector”
 Arti Chandani, Mita Mehta, Akanksha Mall and Vashwee
Khokar (2016) “Employee Engagement: A Review Paper on
factors affecting employee engagement”
 Dr. Gaurav Jaiswal, Dr. Ravindra Pathak, Dr. Shib Kumari
(2017), “the impact of employee engagement on performance.”
 Nivedita Jha, Puja Sarun, Rama Krishna Gupta Potruru,
“Employee engagement for millennials: considering technology as
an enabler”
 Shoaib Raza, Noor-ul-ain Ansari, Dr. Asad Afzal, “factors
affecting millennial employee engagement in Government
sector”.
 www.researchgate.net

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