| Summary: | As Generation X retires, Millennial professionals are becoming more involved in the workforce. Numerous skilled individuals from the Wenzhou banking industry have migrated to non-banking financial firms, and banks should seriously consider the job satisfaction of Millennial employees (Sun, 2017). This dissertation focuses on how Wenzhou's banking sector may better motivate its entry-level Millennial staff.
This dissertation used semi-structured interviews as a qualitative research method to interview three Millennial grassroots employees of a bank in Wenzhou. As a comparison, three Generation X grassroots employees of the same bank were interviewed.
According to this research, Millennial workers' essential employment guarantees were wages and bonuses. They preferred non-monetary benefits and desired participation in courses for professional development and the ability to place a strong focus on career prospects. This finding was consistent with the theory of employees' demand for achievement.
The theory's claim that workers only cared about a sense of accomplishment for conquering challenges was refuted by Millennials' frustration with bonuses that were tough to attain. Millennials' job satisfaction was affected by their friendly relationships with colleagues, which contradicted the theory that referred to hygiene factors as irrelevant to motivating employees. There were no obvious variations between the two generations, X and Y. This research provided some recommendations for improvement that were presented correspondingly.
Keywords: Motivation, Financial Rewards, Non-Financial Rewards, Millennials
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