High
employee turnover rate in Malaysia’s financial services industry has become a
growing concern that needs to be addressed. As turnover is rather a complicated
phenomenon in a business setting, this study aims to identify the generational
differences in factors that influence turnover intention among CIMB and Public
Bank workers. The factors were adopted from the Job Descriptive Index (JDI)
factors that were commonly used to measure satisfaction. The JDI factors were
also known as the dimensions for Job Satisfaction. The factors are the
work-itself satisfaction, co-worker satisfaction and pay satisfaction. The
study also focuses on two generations, namely the Gen X and Gen Y workers. A
questionnaire was developed using JDI factors as well as the Pay Satisfaction
Questionnaire (PSQ). Data were collected from 200 respondents from CIMB and
Public Bank in several Selangor branches. The findings suggested that there are
significant negative relations between the work-itself, co-workers and pay
satisfaction with turnover intention. There are also significant differences
between generation across the three JDI factors as well as on their turnover
intention.The findings also found higher intention to leave among Gen Y workers
compared to the Gen X workers. Based on the findings, several recommendations
were suggested to address the turnover intention issue as well as matters
regarding multi-generational workforce.