Intrinsic Work Motivational Factors Influencing Employee Retention among Gen Y:- A Review and Implications

To sustain in the current competitive world, efficient management of 4 factors of production land, labor capital and entrepreneur should be done in an optimum way. Out of the four factors labor is the only one which is challenging and dynamic therefore it requires skill, feelings and emotional touch to motivate them. Motivation is an internal energy that persuades an individual to achieve his or her goal and to be retained in the organization. An employee is extrinsically motivated through reinforcement contingencies but this is not enough, so it should be accompanied by intrinsic motivation which includes interest on job and making it pleasurable. Individual motivation tends to differ across subject areas, groups and this field specificity increases with age. Each generation has their own mindset towards motivation. This paper aims to focus particularly on a review of extant literature on generation y and their preference for motivation. Conclusions and implications for further research have been drawn from the literature reviewed.