What makes generation Y jump
en kvantitativ studie av hur den nya generationen bankanställda motiveras av monetära och icke-monetära incitament
Generation YBankMotivationIncentivesReward systemMonetaryNon-monetaryFinancialNon-financialGeneration YBankMotivationIncitamentBelöningssystemMonetäraIcke-monetäraFinansiellaIcke-finansiella
Right now a major generational change is taking place within the banking sector. The new generation entering the labor market is often referred to as generation Y and it consists of individuals born between 1980 and 1995. Previous research has shown that the banking industry as a whole put a widespread emphasis on monetary incentives within the reward system. At the same time several studies highlight that individuals from generation Y are rather motivated by primarily non-monetary incentives.The aim of this dissertation is to explain how various monetary and non-monetary incentives affect the motivation of bank employees from generation Y. A positivistic research philosophy has been used with a deductive approach and a quantitative research method.This study indicates that bank employees from generation Y are motivated by retirement savings as well as a personal mentor or chief who draws attention to their development. Their motivation is also affected to some degree by freedom to control their own time. This study even indicates that bank employees from generation Y primarily appreciate the following incentives along with the previously stated: Continuous training, career plan, discount on loans and pay increasesThe respondents in this study were mainly employees of banks where monetary incentives were not used to any great extent. This can be seen as a limitation as well as the fact that the respondents where solely employed within Swedish banks. Given this, there is a scope for further studies of generation Y within the banking sector.Research regarding which incentives bank employees from generation Y are motivated by, has so far been absent. This dissertation may be of value for banks that want to be at ease that they are doing everything to keep their employees highly motivated.