Innovation Culture and Millennial Characteristics:  Determinants of Millennial Turnover Intention in the Banking Sector

Setor Quashigah; Joshua  Amuzu

doi:10.63029/8x367t04

Authors

Setor Quashigah Nobel International Business School Author
Joshua Amuzu Nobel International Business School Author https://orcid.org/0000-0001-6612-3028

DOI:

https://doi.org/10.63029/8x367t04

Abstract

Since Millennials form the largest part of today’s workforce, it is prudent to know Millennials' motivation and characteristics that support their retention. Based on data from 348 team leaders and line managers, a hierarchical regression analysis was used to examine the impact of Millennial-specific characteristics and organizational environmental factors on their turnover intentions (MTI). While teamwork and technology orientation had a negative effect on MTI, achievement orientation had a negative impact on MTI. The results revealed a negative relationship after testing the organizational environmental factor, innovation culture, and MTI. Thus, firms should engage in the development of a culture of innovation and teamwork to support Millennials with a high achievement orientation to succeed in an open, transparent organizational structure.

Author Biographies

Setor Quashigah, Nobel International Business School

Dr. Quashigah, Executive Director, Head, Affluent & Wealth Management. She joined Standard Chartered in 2001 as a Management Trainee and has accumulated vast banking experiences ranging from branch banking as a Sales Consultant, Customer Services Manager and Branch Manager. Dr. Quashigah is responsible for delivering world class wealth products and solutions in Ghana. She has held other managerial roles including Head, Direct Banking, Head, Proximity and Remote Banking, and General Manager, Preferred and Priority Banking. She built a team of high-performing Relationship Managers and best-in-class Trusted Advisors managing our Affluent Clients segment. Setor has an excellent track record in Sales, Relationship and Portfolio Management. Before joining Standard Chartered, Setor’s career started in 1997 at Unilever Ghana Ltd. Setor has a Doctorate in Business Leadership from Swiss Business School and is a certified Wealth Manager from INSEAD, France. Setor also has an MBA from the University of Leicester, UK. And B.A from the Kwame Nkrumah University of Science and Technology in Ghana.
Joshua Amuzu, Nobel International Business School

Joshua Amuzu is a program director and final-year PhD Candidate at Nobel International Business School, NiBS. His area of specialization is Business Innovation and Strategy. As the Doctor of Business Leadership (DBL) Program Coordinator, he supported over 22 doctoral students to graduate on time with other students graduating in the DBA, PhD and EMBA programs. Joshua has published articles in peer-reviewed journals with some winning international awards like "Farmcrowdy: Digital Business Model Innovation for Farming in Nigeria,"- a business case study co-authored with Prof. Kwaku Atuahene-Gima with the 2019 Emerald Business Case Study Award. As an assistant lecturer, Joshua teaches Executive Master of Business Administration students Leadership for Digital Transformation. Joshua has been engaged in consultancy services and training on projects like the Presidential Pitch (2019) and the NEIP Greenhouse Initiative (2020). He is also a member of the African Association of Business School (AABS).