How to Motivate Millennial Employees: An Investigation of Cash vs. Non-Cash Incentives Jeeyeon “Jeannie” Hahm, PhD, Juhee Kang, PhD, & Xiaoxiao Fu, PhD Background of Study Literature Review Impact to Field The millennial generation (born between 1981 and 1997) exceeded Generation X in forming the largest share of the U.S. workforce since 2015 The millennial generation is expected to continue its rapid growth in the near future (Fry, 2015). The millennials are known as the “Look at Me” generation Overly self-confident and self-absorbed with no work ethic (Pew Research Center, 2007). Understanding of loyalty, time, and success are different from other generations (Marston, 2016). There are distinct segments within this cohort. The challenge for management at organizations has been understanding millennials and finding ways to motivate them that lead to organizational membership and commitment. For companies to fully utilize this cohort’s unique characteristics, management may need to create different rules and policies (Myers & Sadaghiani, 2010). Organization Motivation (Lusthaus et al., 2002) Motives that drive employees to achieve organizational-related goals Effectiveness of Rewards Cash rewards (Rhodes, Hung, Lok, Lien, & Wu, 2008) Non-cash rewards (Wickramasinghe & Widyaratne, 2012) Organizational Outcomes (Bang, Ross, & Reio, 2012) Job satisfaction Turnover intentions The effectiveness of rewards, in the form of cash or non-cash, to create a desirable work environment is debatable. For the goal of knowledge sharing and team cooperation, some studies hold that cash rewards can motivate members (Rhodes, Hung, Lok, Lien, & Wu, 2008), while others argue that non-cash rewards such as incentive trips and facilitation of organizational culture motivates them more (Wickramasinghe & Widyaratne, 2012). Thus, it is necessary to understand the process that positively directs employees towards organizational outcomes, such as job satisfaction and turnover intentions (Bang, Ross, & Reio, 2012). The findings are to see the roles of different reward types in promoting organizational efficiency and retaining talents. Methodology Research Design Mixed methods: Focus groups and questionnaire Survey Instrument Questionnaire will be developed based on focus group findings Motives on both cash and non-cash incentive programs Sampling Frame & Data Collection MIllennials Pilot test National survey Purpose of Study References Bang, H., Ross, S., & Reio, J.T.G. (2012). From motivation to organizational commitment of volunteers in non-profit sport organizations: The role of job satisfaction. Journal of Management Development, 32(1), 96-112. Fry, R. (2015). Millennials surpass Gen Xers as the largest generation in U.S. labor force. Retrieved April 23, 2017 from http://www.pewresearch.org/fact-tank/2015/05/11/millennials-surpass-gen-xers-as-the-largest-generation-in-u-s-labor-force/ Lusthaus, C., Adrien, M.H., Anderson, G., Carden, F., & Montalvan, G.P. (2002). Organizational assessment: A framework for improving performance. Ottawa/Washington DC: International Development Research Centre and Inter-American Development Bank. Marston, C. (2016). Tips for keeping Millennial employees: Understanding myths about Millennials. Retrieved April 23, 2017 from https://www.thebalance.com/tips-for-retaining-millennial-employees-1918679 Myers, K. K. & Sadaghiani, K. (2010). Millennials in the workplace: A communication perspective on Millennials’ organizational relationships and performance. Journal of Business & Psychology, 25(2), 225-238. Pew Research Center [PRC]. (2007). How young people view their lives, futures, and politics: A portrait of “Generation Next.” Retrieved April 23, 2017 from http://www.people-press.org/2007/01/09/a-portrait-of-generation-next/ Rhodes, J., R., Hung, P., Lok, B., Lien, Y-H., & Wu, C.M. (2008). Factors influencing organizational knowledge transfer: Implication for corporate performance. Journal of Knowledge Management, 12(3), 84-100. Wickramasinghe, V. & Widyaratne, R. (2012). Effects of interpersonal trust, team leader support, rewards, and knowledge sharing mechanisms on knowledge sharing in project teams. VINE, 42(2), 214-236. This study attempts to examine the attributes of cash and non-cash incentives such as incentive trips in motivating millennials in the workplace. The purpose of this study is to adopt both cash and non-cash rewards as two categories of motives to see if they lead to desirable organizational outcomes.