|dc.description.abstract||Job hopping is apparent in Kenya's banking industry (Njuguna, 2009). A higher turnover is
experienced among generation Y employees compared to the previous generations and has
been partly attributed to their differences in communication styles, technological aptitude and
work-life balance. These differences present organisation leaders with unique opportunities
and obstacles that shape the retention strategies, including the leadership styles, which they
adopt. Employers who fail to invest in this group are likely to see less loyalty than those who
do (Armour, 2005; Kreitner, 2009; PwC, 2011; Spectrum Knowledge, 2010). The main
objective of this study was to determine generation Y employees' perception of the role of
leadership in retention.
The research was conducted at the big four commercial banks in Kenya namely; Kenya
Commercial Bank, Equity Bank, Barclays Bank of Kenya and Standard Chartered Bank and
targeted generation Y (aged 30 and below) skilled staff. From each of the four banks, fifty
generation Y employees were selected. The sample was obtained through random selection.
In total, the sample was therefore composed of two hundred subjects. The research data was
gathered exclusively through questionnaires as the primary research instrument. SPSS was
used to analyse the data and derive descriptive statistics which included frequency tallies,
percentage scores, means and standard deviations. After the data was analysed, the research
findings were presented using frequency tables, pie charts and bar graphs.
Key findings revealed that job hopping is rife in the commercial banks among generation Y
as shown by the fact that 83.2% of the respondents indicated that they would continue
working for their current employers for less than five years. The findings also revealed that
remuneration package was the main reason why the generation Y employees move from one
bank to another. This, in the researcher's opinion, can be attributed to the rising cost of living
that Kenya has experienced over the years. In addition, the findings indicated that most
(43.5%) of the generation Y employees at the commercial banks prefer a coach/mentor
relationship between them and their leaders.
The key conclusion of this study was that leaders should consider adopting participative,
democratic, flat-line management and collaborative leadership styles which involve not only
leading but also allowing generation Y employees to lead.||en_US