X and Millennial Employee Job Satisfaction Factor Study of Mongolia

Abstract

Organizations have different approaches to attract and retain desired employees based on the company values, goals, and capacity. However, the turnover rate is increasing worldwide and Mongolia is not an exception. To succeed we should manage each employee individually. However, in real life companies do not have that capacity and resources. To manage more effectively, companies might need to group employees by their needs. Some research materials show that generations share similar values. Therefore, solution to that issue could be dividing employees by their birth generation. This paper aims to identify differences and similarities of X and Millennial generations job satisfaction factors of Mongolian employees. To effectively manage individual’s need, questionnaire of this work was developed based on previous works on job satisfaction aspect, which distributed to 389 employees from Mongolia working in Mongolia, USA, Canada and Australia. The sorting criterion was affiliation to the generational cohort, Baby Boomers generation 2.8%, Generation X 36%, Generation Y 57.1% and Generation Z 4.1% respectively. Respondents geographical location: Ulaanbaatar (Capital of Mongolia) 68.1%, Aimags (Rural areas of Mongolia) 27.5% and abroad (USA, Canada, Australia) 4.4% respectively. This study reveals that employee engagement factor importance and reward program effectiveness differ by generations. Overall, company reputation, job security, benefits are rated differently by generations in regards to their importance level. Furthermore, generations prefer government award programs significantly different. The research results might serve companies and organizations to customize their program to attract and retain desired Mongolian employees based on their specific needs. To the best of the author’s knowledge, there is no study conducted regards to job satisfaction and employee engagement factors of Mongolian employees by their generation.