Exploring the Factors of Employee Engagement and their Impact on Organisational Citizenship Behaviour and Intention to Stay with Reference to Millennial Employees of Private Sector Banks in Chennai

DOI

10.2991/978-94-6463-374-0_68How to use a DOI?

Keywords

Millennials; Engagement; Organisational Citizenship Behaviour; Intention to Stay; Leadership and Management Practices; Work Environment; Person-Job-Fit

Abstract

Commercial banks in India perform a wide range of functions, including managing foreign exchange, enabling payments, releasing deposits, offering investment services, making loans, promoting financial inclusion, and preserving stability in the financial system. Private sector banks give the Indian banking sector competitive advantages in terms of customer care, efficiency, technology, credit expansion, and job opportunities. Particularly in the private banking industry, a company's capacity to engage its workers is critical to its success and ability to stay competitive. Higher levels of commitment, productivity, and a strong desire to give value to their company are often displayed by highly engaged personnel. Since private sector banks predominate in Chennai's banking sector, it is imperative to understand the factors driving millennial employees’ job engagement and the outcomes they generate. A mixed-method survey was employed in the study to gather primary data from 125 millennial employees who had worked in the business for at least two years. The results of the study showed that, in comparison to their peers, millennial workers at banks belonging to the elder generation had a more positive assessment of employee engagement, OCB, and intention to stay. Employee credentials had a major impact on their intention to stay, OCB, and level of engagement. Additionally, a high positive correlation between employee engagement, OCB, and intention to stay was found in the study. “Work Environment” was the element that most significantly impacted the prediction of millennial employees’ intention to stay among all the factors that were evaluated. The study advises private sector banks to routinely evaluate the elements influencing employee engagement, OCB, and intention to stay among millennial employees in light of these findings. In the end, this proactive approach can help bank management attract, engage, and retain talented millennial workers, which will help the private sector banks in Chennai grow and succeed over the long run.

Copyright

© 2024 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Download article (PDF)

TY  - CONF
AU  - P. Kanchana
PY  - 2024
DA  - 2024/02/20
TI  - Exploring the Factors of Employee Engagement and their Impact on Organisational Citizenship Behaviour and Intention to Stay with Reference to Millennial Employees of Private Sector Banks in Chennai
BT  - Proceedings of the 3rd International Conference on Reinventing Business Practices, Start-ups and Sustainability (ICRBSS 2023)
PB  - Atlantis Press
SP  - 797
EP  - 808
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-374-0_68
DO  - 10.2991/978-94-6463-374-0_68
ID  - Kanchana2024
ER  -