Abstract
People continue to be the most untapped resource in an organisation. As the world of work evolves and being lean becomes increasingly more important for the sustainability and survival of organisations, especially now post the pandemic, leaders are expected to do a lot more with far less. Herein lies the value of an organisation that can truly stretch, motivate, grow, and retain their people.
This research study aims to explore and unpack what it is that millennials are seeking from their employers, more so for those in the management consulting industry in South Africa. It also explores the strides that organisations must take should they wish to retain and motivate the soon to be, largest represented generation in the workforce.
A qualitative, interpretive, phenomenology research approach was followed using semi-structured interviews to collect primary data. The outcomes of the 15 semi-structured in-depth virtual interviews, which used a purposeful convenient sample strategy, were an abundance of data that shared many aspects of motivation and retention in the consulting industry. Taking a thematic analysis approach to analyse the data from the interviews, six key themes emerged from the research study relating to the motivation and retention of millennial consultants. The key themes were: growth and continuous development, company culture, greater good, financial sustainability, interesting and challenging work, and rewards and recognition.
Each of the six themes were further expanded on through a number of sub-themes/drivers. The drivers were reviewed in light of the locus of control of the individual versus the organisation and the overall themes which were categorised into either intrinsic or extrinsic drivers. The results from the analysis were used to create a framework of the motivational career drivers of millennials towards retention as well as personal and professional performance in the consulting industry in South Africa.
The study concluded that where previous generations may have wanted stability, low risk, and consistent jobs, the younger generation want a dynamic, constantly changing environment with new and different growth opportunities which will allow them to express their personal interest whilst making a difference in the world. Consulting companies need to take this into consideration when reviewing their retention strategies.