THE EFFECT OF PENSION BENEFIT ON MILLENNIAL EMPLOYEES LOYALTY WITH PREFERENCE AND MOTIVATION AS MEDIATOR IN JAKARTA
DOI:
https://doi.org/10.31933/dijdbm.v2i2.780Keywords:
Pension Benefit, loyalty, preference, motivation, millennialAbstract
This study aims to determine and analyze the influence of Pension Benefit on millennial employees in Jakarta through preference and motivation as mediators. This research uses a qualitative and quantitative method using SEM Amos. The number of respondents were 262 that determined by purposive sampling technique. The result shows that: Pension Benefit has a significant positive effect to the employees loyalty; Pension Benefit has a significant positive effect to the employees preference; Pension Benefit has a significant positive effect to the employees motivation; employees preference has a significant positive effect to the employees loyalty; employees motivation has a significant positive effect to the employees loyalty; Pension Benefit hasn't a significant positive effect to the employees loyalty through employees preference; Pension Benefit hasn't a significant positive effect to the employees loyalty through employees motivation.
References
Adeyele, J. S., & Jim-Suleiman, S. L. (2018). Impact of service delivery in pension industry on fraud reduction and employees’ motivation for quality service. IFE PsychologIA: An International Journal, 26(2), 52-61. DOI:10.10520/EJC-119bc534dd
Anitha, J. (2014). Determinants of employee engagement and their impact on employee performance. International Journal of Productivity and Performance Management.
Asokumar, A., & Jais, J. (2018). Determinant of Employees' Retirement Planning: A Review of Malaysian Retirement Plans. Global Business and Management Research, 10(3), 658.
Bialik, K. & Fry, R. (2019) Milenial life: How young adulthood today compares with prior generations. Washington: Pew Research Center.
Buchak, L. (2017). Precis of Risk and Rationality. Philosophical Studies, 174(9), 2363-2368. DOI:10.1007/s11098-017-0904-7
Calloway, C. (2018). Recruiting and Retaining Generations X and Y in Organizations. Tesis Master. Wright State University, Dayton, Ohio.
Cristea, G., Vatamanescu, E. M., & Mitan, A. (2017). Managing People Dynamics Through the Lens Of Generation Y. The International Management Journal, 11(1), 738-748).
Cutter, B., Litan, R., & Stangler, D. (2016). The Good Economy. Kansas City: Roosevelt Institute and Kauffman Foundation.
Damayanti, N., Yahya, K. K., & Yean, T. F. (2019). Work values, emotional intelligence, work environment and career commitment among generation Y: a proposed framework. Sains Humanika, 11(2), 2. DOI: 10.11113/sh.v11n2-2.1655
Dana Pensiun Pegadaian. (2020). Dana Pensiun. Seminar. Dalam: Sosialisasi Dana Pensiun Pegadaian di Jember, 26 Februari.
Danish, R. Q., Sidra, R., & Farid, A. (2013). Effect of Perceived Organizational Support and Work Environment on Organizational Commitment; Mediating Role of Self-Monitoring. Advances in Economic and Busines, 1(4), 312- 317. DOI: 10.13189/aeb.2013.010402
Deal, J. J., Altman, D. G., & Rogelberg, S. G. (2010). Milenials at work: What we know and what we need to do (if anything). Journal of Business and Psychology, 25, 191-199. DOI:10.1007/s10869-010-9177-2
Deloitte (2016). The Deloitte Milenial Survey 2016. Winning over the next generation of leaders.
Elegido, J. M. (2013). Does it make sense to be a loyal employee? Journal of Business Ethics, 116(3). DOI: 10.1007/s10551-012-1482-4.
Fiaz, M., Su, Q., & Saqib, A. (2017). Leadership styles and employees' motivation: Perspective from an emerging economy. The Journal of Developing Areas, 51(4), 143-156.
Fishman, A. A. (2016). How generational differences will impact America’s aging workforce: strategies for dealing with aging Milenials, Generation X, and Baby Boomers. Strategic HR Review, (15)6, 1. DOI:10.1108/SHR-08-2016-0068
Ganapathy, V. (2018). Superannuation Schemes - a Tool for Employee Retention. Journal of the Insurance Institute of India, 6(2), 77.
Gale, W. G., Gelfond, H., & Fichtner, J. J. (2018). How will retirement saving change by 2050? Prospects for the Milenial generation. Prospects for the Milenial Generation (December 2018). DOI: 10.2139/ssrn.3385522
Gale, W. G., Gelfond, H., Fichtner, J. J., & Harris, B. H. (2020). The Wealth of Generations, With Special Attention to the Milenials (No. w27123). National Bureau of Economic Research. DOI: 10.3386/w27123
Gill, R. (2011). Using storytelling to maintain employee loyalty during change. International Journal of Business and Social Science, 2(15).
Goessling, M. (2017). Attraction and retention of generations X, Y and Z in the workplace. Integrated Studies. 66.
Hair, et. al. (2010). Multivariate Data Analysis 7th Ed. US: Pearson.
Houlfort, N., Fernet, C., Vallerand, R. J., Laframboise, A., Guay, F., & Koestner, R. (2015). The role of passion for work and need satisfaction in psychological adjustment to retirement. Journal of Vocational Behavior, 88, 84-94. DOI: 10.1016/j.jvb.2015.02.005
Hirschman, A.O. (1970). Exit, voice and loyalty. Responses to decline in firms, organizations, and states. Cambridge, MA: Harvard University Press.
Johnson, R. W., Smith, K. E., Cosic, D., & Wang, C. X. (2017). Retirement prospects for the Milenials: What is the early prognosis? CRR WP, 17. DOI: 10.2139/ssrn.3079833
Kettunen, M., & Kriikkula, S. (2020). Preparing for the future: Milenials' means of seeking financial security. Tesis Master. University Centre Hämeenlinna: Master of Business Management and Entrepreneurship.
Lewis, G. B., & Stoycheva, R. L. (2016). Does pension plan structure affect turnover patterns?. Journal of Public Administration Research and Theory, 26(4), 787-799. DOI: 10.1093/jopart/muw035
LinkedIn. (2016). Global Recruiting Trends 2016. Relationships at the core. California: LinkedIn.
Ližbetinová, L., Hitka, M., & Kleymenov, M. (2018). Motivational preferences of employees in requirements of Czech and Russian transport and logistics enterprises. Naše More: znanstveno-stručni časopis za more i pomorstvo, 65(4 Special issue), 254-258. DOI: 10.17818/NM/2018/4SI.17
Long, S., Johnson, C., Salisbury, S. M., Kerchner, K., Murray, R., Gamzalev, O., & Correll, V. (2017). Invest. You? Yes! IU South Bend Undergraduate Research Journal, 17, 22-42. DOI:10.29355/33990
Mamou, H. (2018). Rational preferences and reindividuation of relevant alternatives in decision theory: towards a theory of representation. Topoi, 1-10. DOI:10.1007/s11245-017-9527-z
Mannheim, K. (1952). Essays On The Sociology Of Knowledge. London: Routeledge & Kegan Paul. DOI:10.1177/0094306110373351c
Martin, T. N., & Ottemann, R. (2016). Generational workforce demographic trends and total organizational rewards which might attract and retain different generational employees. Journal of Behavioral and Applied Management, 16(2), 1160.
Mustafa, Z., & Wijaya, T. (2012). Panduan Teknik Statistik SEM dan PLS dengan SPSS Amos. Yogyakarta: Cahaya Atma Pustaka.
Němečková, I. (2017). The role of benefits in employee motivation and retention in the financial sector of the Czech Republic. Economic research-Ekonomska istraživanja, 30(1), 694-704. DOI:10.1080/1331677X.2017.1314827
OECD. (2019). Pensions at a Glance 2019. Paris: Organisation for Economic Co-operation and Development. DOI:10.1787/pens_outlook-2018-en
Özçelik, G. (2015). Engagement and retention of the Milenial generation in the workplace through internal branding. International Journal of Business and Management, 10(3), 99. DOI: 10.5539/ijbm.v10n3p99
Price, M. (2013). Cultural attributes and retention strategies within Milenial-founded and Milenial-run companies. Dissertations. 388.
PWC. (2013) PwC’s NextGen: A global generational study - Evolving talent strategy to match the new workforce reality. Survei. Washington: PricewaterhouseCoopers International Limited.
Ryan, R. M., & Deci, E. L. (2019). Brick by brick: The origins, development, and future of self-determination theory. In Advances in Motivation Science Journal 6, 111-156 Elsevier. DOI: 10.1016/bs.adms.2019.01.001
Shahzadi, I., Javed, A., Pirzada, S. S., Nasreen, S., & Khanam, F. (2014). Impact of employee motivation on employee performance. European Journal of Business and Management, 6(23), 159-166.
Sodikin, S., & Mufreni, A.N. (2017). Pengaruh Program Pensiun terhadap Loyalitas Kerja, Disiplin Kerja, Motivasi Kerja dan Kinerja Pegawai Tetap PT. PLN Cabang Tasikmalaya. Tasikmalaya: Universitas Siliwangi.
Mura, L., Gontkovicova, B., Dulova Spisakova, E., Hajduova, Z. 2019. Position of Employee Benefits in Remuneration Structure. Transformations in Business & Economics, 18, No 2 (47), pp.156-173 ISSN 1648-4460
Sugiyono., (2014). Metode Penelitian Kuantitatif, Kualitatif, dan Kombinasi (Mix Methods). Bandung: Alfabeta
Van den Broeck, A., Carpini, J. A., & Diefendorff, J. M. (2019). How much effort will I put into my work? It depends on your type of motivation. In R. Ryan, Oxford Handbook of Human Motivation (2nd Ed) (pp. 354-372). John Wiley & Sons. DOI:10.1093/oxfordhb/9780190666453.013.27
Vowels, M. C. (2014). Milenials: Why the Next Generation Will Change The Way We Do Missions. Greenville, SC: Bob Jones University.
Wiklund, F., & Jansson, S. (2019). Employee Loyalty and the Factors Affecting It : A qualitative study comparing people with different working experience on their view of employee loyalty (Dissertation).
de Wind, A., Geuskens, G. A., Ybema, J. F., Bongers, P. M., & van der Beek, A. J. (2015). The role of ability, motivation, and opportunity to work in the transition from work to early retirement–testing and optimizing the Early Retirement Model. Scandinavian journal of work, environment & health, 24-35. DOI:10.5271/sjweh.3468
Yao, T., Qiu, Q., & Wei, Y. (2019). Retaining hotel employees as internal customers: Effect of organizational commitment on attitudinal and behavioral loyalty of employees. International Journal of Hospitality Management, 76, 1-8. DOI: 10.1016/j.ijhm.2018.03.018
Yen, W. T. (2018). Pension plans and retirement insecurity. Ageing International, 43(4), 438-463. DOI:10.1007/s12126-018-9326-x
Downloads
Published
Issue
Section
License
Authors who publish their manuscripts in this journal agree to the following conditions:
- The copyright on each article belongs to the author(s).
- The author acknowledges that the Dinasti International Journal of Digital Business Management (DIJDBM) has the right to be the first to publish with a Creative Commons Attribution 4.0 International license (Attribution 4.0 International (CC BY 4.0).
- Authors can submit articles separately, arrange for the non-exclusive distribution of manuscripts that have been published in this journal into other versions (e.g., sent to the author's institutional repository, publication into books, etc.), by acknowledging that the manuscript has been published for the first time in the Dinasti International Journal of Digital Business Management (DIJDBM).
