Tag Archive for: Human Capital theory

Millennial employees in the bakeshop industry exhibited high turnover rates primarily due to the need for a safe work environment, recognition, and opportunities for promotion. The study focused on the factors contributing to millennial employees’ turnover rates. This study employed a quantitative, non-experimental, correlational design to investigate turnover intention among millennial employees in the bakeshop industry in Cebu Province. Data were collected via a researcher-made questionnaire from 34 randomly selected millennial employees. Analysis through descriptive statistics, chi-square tests, and weighted means revealed that millennials, who formed a significant portion of the working class, tended to leave their jobs if their specific needs were not met. The primary factor driving their turnover was self-preservation, with employees prioritizing a safe and healthy work environment. A workplace free from injuries and accidents not only attracted but also retained employees, leading to reduced absences and increased productivity. Consequently, a commitment to health and safety by employers enhanced employee retention and reduced business disruptions. Additionally, recognition and opportunities for promotion were crucial for retaining millennial employees. They were likely to leave if they felt undervalued or saw limited promotion opportunities. Training and development were less significant than promotions in influencing their decision to stay. The study also found that changes in management or internal talent management practices had minimal impact on retention, provided the work environment remained stable and employees were treated well. Overall, addressing millennials’ needs for safety, recognition, and career growth was vital for reducing turnover rates in the bakeshop industry.