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Is Financial Reward Still an Important Motivator for the Indonesian Multi-Generational Workforce?

Author

Listed:
  • Yanki Hartijasti

    (Faculty of Economics and Business, Universitas Indonesia, Indonesia. Author-2-Name: Surya Dwi Kusuma Darpita Author-2-Workplace-Name: Faculty of Economics and Business, Universitas Indonesia, Indonesia.)

Abstract

"Objective � Considering the importance of work motivation in the workplace for staff performance and organizational success, employers need to be sensitive and focusing more on work motivation of their employees to avoid losing them. However, previous studies still have conflicting results on this issue whether there is a significant difference on intrinsic and extrinsic motivators or not among employees from Baby Boomers, Gen X and Gen Y because many studies find generation is not the only driver influencing work motivators. The objectives of this study are to investigate whether a three-generation workforce differs in the level of work motivators and whether differences in generational work motivation are better explained by gender, education, or types of job to design effective human resources development programs. Methodology/Technique � Using survey method to collect data, 415 respondents who work in a manufacturing company were gathered and analyzed by applying descriptive and multivariate analysis. Intrinsic and extrinsic motivators were the subscales of work motivators. Findings � Results indicate that all generations are intrinsically motivated, in which Gen Y employees are found to have higher intrinsic motivators than Gen X and Baby Boomers. However, this study reveals that financial rewards are still considered as an important motivator for the three generations. Novelty � The study presents evidence that work motivators should not only be measured based on generational alone because other factors, such as gender, education, and types of job, can give impact to various outcomes."

Suggested Citation

  • Yanki Hartijasti, 2017. "Is Financial Reward Still an Important Motivator for the Indonesian Multi-Generational Workforce?," GATR Journals jmmr144, Global Academy of Training and Research (GATR) Enterprise.
    • Handle: RePEc:gtr:gatrjs:jmmr144
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    References listed on IDEAS

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    1. Carolyn P. Egri & David A. Ralston, 2004. "Generation Cohorts and Personal Values: A Comparison of China and the United States," Organization Science, INFORMS, vol. 15(2), pages 210-220, April.
    2. Dagmar Weberova & Milos Hitka & Lenka Lizbetinova, 2017. "Age and Gender Motivating Differences of Slovak Workers," International Review of Management and Marketing, Econjournals, vol. 7(1), pages 505-513.
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    More about this item

    Keywords

    Intrinsic Motivators; Extrinsic Motivators; Financial Rewards; Gen Y; Gen X; Baby Boomers; Indonesian Workplace.;
    All these keywords.

    JEL classification:

    • J28 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Safety; Job Satisfaction; Related Public Policy
    • J33 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Compensation Packages; Payment Methods
    • M52 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - Compensation and Compensation Methods and Their Effects
    • M54 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - Labor Management

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