The Impact of Non – Financial Rewards on the Attraction of Generation Y Undergraduates towards Organizations

Abstract

Undergraduates of generation Y have unique characteristics in terms of their expectations and views when selecting organizations to work in. The main objective of this study was to identify the extent to which non –financial rewards attracts the generation Y undergraduates towards business organizations. A quantitative research approach was followed, and data were collected using a questionnaire which contains 2 parts, i.e. part 1 measured non – financial rewarding system and part 2 measured attraction towards organizations. The data were collected from 80 management undergraduates who are currently studying in 3 main Universities in Sri Lanka for management studies. Simple linear regression was used to test the hypotheses and the coefficient of determination to assess the marginal contribution of variables in the research model. The findings of this study showed that non-financial reward have statistically significant effect on undergraduates’ attractiveness of a job offering. It is recommended based on the research that following non – financial rewards are appealing to university undergraduates irrespective of the gender. Opportunities provided, extent to an individual thinks his/her work is valued, having a manageable workload and a reasonable work place, having supportive colleagues and flexible working arrangements. It is recommended that managers in the corporate sector, to focus more on the factor mentioned will enhance the attractiveness of generation Y undergraduates towards organizations