Factors Contributing to Millennial Employees' Turnover Rates

: 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.

). Employee engagement is closely linked to creativity and improved performance, highlighting the need for organizations to measure and address motivational levels across different workforce generations to ensure optimal performance (Eldor & Harpaz, 2016).Internal recruitment and succession planning significantly motivate employees by offering promotion opportunities (Benson et al., 2004).Additionally, job rotation and new learning opportunities can serve as practical alternatives for career development (Wrzesniewski et al., 2010).Regularly measuring factors influencing employee retention and tailoring reward systems to meet these needs is essential for maintaining a motivated workforce (Thomas et al., 2013).Investing in health and safety complements education and training investments and enhances employee engagement and productivity (Gillis et al., n.d.).Millennials, in particular, have unique expectations from their employment experience, seeking efficient work, recognition, access to technology, and mentorship (Espinoza et al., 2010;Taylor, 2014).Understanding these expectations is crucial for developing effective engagement models and retention strategies, as millennials value work-life balance and aim to positively impact their workplaces and communities (Lancaster & Stillman, 2010).

Theoretical Background
The study is anchored on Human Capital (HC) Theory, which posits that knowledge, skills, and abilities are vital for organizational success (Schultz, 1961).Employee training and development are essential for motivation and engagement.Reward and talent retention are key human capital antecedents at the individual level, including varied employee backgrounds, experiences, and workplace health and safety.
Human capital theory suggests investing in education and training enhances productivity and justifies higher earnings (Becker, 1993).The theory also argues that organizations should share the costs of firm-specific training, as it benefits the incumbent firm only (Becker, 1964).Employees are willing to invest in their training if it leads to better wages, positions, and promotions.

Research Problems
This research aimed to determine millennial employees' intention to leave the organization and the factors in Human Capital theory influencing this intention during 2020-2021.Specifically, it sought to answer: 1. What is the Likelihood of millennial employees leaving their current organization?2. What factors in Human Capital theory do millennial employees consider in their intention to leave? 3. To what extent do Human Capital factors influence millennial employees' tendency to leave? 4. Is there a significant relationship between the Likelihood of millennial employees leaving and Human Capital factors at individual and organizational levels? 5. Based on the findings, what employee retention plan can be drafted?

II. METHODOLOGY
This study employed a quantitative, non-experimental, correlational design.Data were collected using a researcher-made questionnaire validated with a Cronbach alpha reliability score of 0.89.The sample includes 34 millennial employees from the bakeshop industry in Cebu Province, selected through random sampling.Questionnaires were distributed and collected online using Google Forms.Data analysis involved descriptive statistics, chi-square tests, and weighted means to determine relationships between variables and the extent of their influence on turnover intention.

III. RESULTS AND DISCUSSION
The first part showed millennial employees' tendency to leave their organizations.The second part focused on the factors of the human capital theory that millennial employees considered when leaving the organization and the extent to which these factors influenced their decision to leave.Lastly, it examined factors that might have been associated with their tendency to leave.According to previous researchers, millennials usually leave organizations within the first two years (Espinoza et  millennials related to the eleven factors identified in the Human Capital Theory concerning their turnover intention.A closer look at the tendency to leave revealed that the majority of those inclined to leave the organization soon were bakeshop corporate employees who were college graduates (66.7%).In comparison, those without plans to leave soon were bakeshop employees (storekeepers) who were high school graduates (85.5%).However, the proportion of bakeshop storekeepers and corporate employees who tended to leave the organization did not significantly differ, χ² (2)=5.559,p=.062.This is expected among corporate office employees, considering that they are college graduates and can easily find a better workplace and better pay against the odds of the bakeshop employees (storekeepers) who are high school graduates, which is very hard to find better pay and a better workplace.
The human capital theory identified the following factors that millennial employees consider when leaving the organization:

Health and Safety
These were factors to consider on the employee's intent to leave the organization, which includes the organizational level factorsleadership of the superiors, company culture, change management, company structure, and talent management while the individual level factors areeducation and training, employee development, employee engagement, talent retention and reward, internal recruitment (internal succession) and health and safety.
People leave the organization because of their superiors' leadership and the company culture.Employees sometimes leave on impulse, without any plan for the future, due to a negative management response to a specific action (e.g., being passed over for a promotion or experiencing difficulties with a supervisor).A company's culture is a reflection of leadership.Great employees stay because they can trust that leadership has their back.They can trust that leadership will make the best decisions for the company.They trust that leadership will get the company back on course when things go sideways.All these supports the findings of this study that employees wanted to leave because of the superiors' leadership and the company's culture.On the individual level, self-preservation is the number one reason why employees opt to leave their companies.A work environment free from injuries and accidents attracts employees, as shown in Table 5 above.Employees are more satisfied and productive in such an environment.A safe work environment is essential for both employees and employers alike.If they find that it is no longer healthy and safe for them to stay, then they would instead leave.Also, protecting the workers means fewer absences, with more efficient and productive workers.Workers are more productive in workplaces committed to health and safety.Reducing downtime caused by illness and accidents means less disruption and saves business money.
Moreover, retention and giving of rewards to employees would make them stay.Promoting them from the rank and file makes workers feel that the management values their length of service.So, if they feel that they are not being properly rewarded or promoted, they tend to leave, as shown in Table 5.They do not care whether they will be trained or developed or if there is more engagement; if promoted, it would be enough for them to stay and stay.Also, changes in management or the management of internal talents do not affect employee retention.They do not care who their superior will be as long as they are treated well, and they will not bring many changes detrimental to the present condition of the workplace.Consistent with the previous findings on what makes them leave the company, health and security are very important to them ( = 3.24), and the superiors' leadership ( = 3.18).Although they still consider talent retention, rewards, and the change in management very important, among the very important factors, these two have the lowest mean, implying that they may have the option to stay even though these will not satisfy them (see Table 7).Review and make changes as necessary for the organization's benefit.Considering that the "one size fits all" is no longer applicable, customize benefit packages, make a flexible work schedule, and provide adequate paid time off if allowed.Having no turnover is also not good, but having a reduced turnover rate is ideal.Organizations should offer employees opportunities for personal and professional growth and advancement, which may include promotion opportunities.However, where internal promotion is not viable, new learning opportunities and skill variety initiatives such as job rotation may be practical alternatives The direct economic costs associated with losing talented employees include the costs of replacing an employee, the exit of the employee, and the downtime that occurs because of the employee's exit (Hagen Porter, 2011).Moreover, the firm incurs the cost of recruiting, interviewing, and training a new hire (Hagen Porter, 2011).

CONCLUSIONS AND RECOMMENDATIONS
The baking industry has been increasingly hiring younger generations as their future workforce, recognizing the importance of appreciating their needs, such as better leadership, a positive company culture, robust health and safety programs, and competitive talent retention and reward systems.Research has emphasized the significance of understanding and meeting the needs of these millennials, who brought fresh ideas and high motivation to the industry.The study highlighted that millennials' turnover intentions were primarily influenced by concerns for workplace safety and security rather than managerial issues or advancement opportunities.High school graduates were found to be more likely to tolerate challenging bosses for job security, while college graduates tended to prioritize gaining diverse experiences.By addressing these findings, organizations could better motivate millennials and enhance employee retention, benefiting from a more engaged and committed workforce.

THE PROPOSED RETENTION PROGRAM FOR BAKESHOP ORGANIZATION IN THE PROVINCE OF CEBU
Based on the summary of findings, conclusions, and recommendations of the study, the researcher has come up with a proposed retention program for bakeshop organizations in the Province of Cebu to help retain and attract Millennials to stay longer in the job.

Rationale:
A safe work environment is essential for both employees and employers alike.If they find that it is no longer healthy and safe for them to stay, then they (millennials) would rather leave.The employees will likely leave the company because of leadership and culture and because their health is at stake.Workers are more productive in workplaces that are committed to health and safety.Reducing downtime caused by illness and accidents means less disruption -and saves businesses money.Moreover, retention and giving of rewards to employees would make them stay.Promoting them from the rank and file makes workers feel that their length of service is valued by the management.So, if they feel that they are not being properly rewarded or promoted, they tend to leave, if they will be promoted, would be enough for them to stay and not leave.

Objectives:
The Objective is to address and develop answers to the gaps found and implement ways to meet the needs of the workers as found in this study.the workplace, and articulate human resource development plans to them Create a plan that will showcase the skills that are required and necessary to meet the next level in their career.
Review and make changes as necessary to the organization's benefits.Considering that the "one size fits all" package no longer applies now customize benefit packages for employees, focus on the leadership, company culture, and health and safety.
competitiveness, with career advancement pathways providing mechanisms for skill enhancement and professional growth (Yang et al., 2011
the pressing needs as identified in this study.identified goals by conducting focus groups with Millennial employees.

Table 5 . Individual Level Factors Individual Level Factors Rank based on Modal Responses
(Rank from 1 to 6, with 1 as the number one consideration and six as the least consideration in your intention to leave the organization)

Table 9 . Proposed Action Plan in drafting a customized retention program for millennial employees.
Work with them and ask them what they would like to see implemented towards the Develop and improve the skills of your managers and the health and safety condition of