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Abstract(s)
This study explores the job satisfaction of employees of an European bank Portuguese branch
office. It aims at providing: (i) a relation between job satisfaction and turnover willingness; (ii)
an understanding of the differences in satisfaction factors between Millennials and older
working generations; and (iii) how to increase person-organization fit during recruitment,
increasing the retention rate.
Several focus groups were conducted, with the gathered data being displayed through
systematic coding. In total this focus groups were comprised of 56 participants, representing
14% of the total population (400). Of these participants, 29 were Millennials, which allowed for
a generational comparison when it came to understanding how different satisfaction factors
impacted people of different ages.
The results of this seem to show that as job satisfaction decreases, turnover willingness
increases, illustrating that the reasons for dissatisfaction of employees are connected with the
characteristics they look for in other organizations. With employees thinking of other
organizations as more attractive their natural tendency will be to want to leave, this willingness
having already been proved to be connected to effective turnover rates by several experts.
Furthermore, this study, illustrates the differences in satisfaction factor between Millennials and
older generations, namely when talking about “Career Development”, “Leadership and
immediate responsible”, and “Communication”.
Lastly, this study high-lights that Millennials’ characteristics as tech-savviness, and social media
awareness directly translate on what they expect in terms of communication from recruiting
firms, and on how these can be used to develop a better person-organization fit during the
recruitment process.