Dr Charles presenting his paper
UTAR Faculty of Business and Finance (FBF) lecturer Dr S. Charles Ramendran’s research paper recently received recognition at the Van Hien International Conference. The conference was held in Van Hien University, Ho Chi Minh City in Vietnam on 22 May 2018. The name of the conference was “The Prospect of East Asian Community – Vietnam in Investment Cooperation, the Issues of Human Resources Training, and Creating Employment Opportunities”.
Titled “Retention of Generation Y Employees’ Strategies: Perspectives from Extrinsic and Intrinsic Reward Systems”, the paper was co-authored by Dr Charles, lecturer from the Faculty of Business, Accountancy and Management of SEGI University Dr K. Vimala, FBF lecturers Dr Ramesh Kumar Moona Haji Mohamed, Nurul Ikma binti Haris, Wan Nur Izni binti Wan Ahmad Kamar, and Faculty of Arts and Social Science lecturer P. Clarence Anthony. Their paper was accepted at the conference and was awarded a cash prize worth VND718,000.
The discussion and ideas shared during the conference have impressed various parties who attended the conference and have given insight particularly on generation Y employees. The retention systems that were highlighted during the event have impressed the participants to take note on creating fair governance on performance as well as on labour practices which correlate significantly with nation’s efforts to lift the economy of countries.
Dr Charles explained, “The waves of the Fourth Industrial Revolution have contributed to enduring digital transformation and restructuring towards internet of thing (IOT) that demand human resources to up-skill through training in order to stay competitive and embrace the new technology for employability.”
He enthused, “As a delegate representing Malaysia and UTAR Kampar Campus, academicians, as well as corporate members, appreciated the insights shared on the labour policies practised by the Malaysian Government. The focus and interest given by the participants on the implementation of retention systems during the discussion have established a feeling of recognition.”
The thoughts that were put forward by Dr Charles during the presentation have enabled the participants to visualise the effectiveness of good governance and equality in human resource practices. The presentation also served as a valuable stage for corporate companies and industrialists in landscaping their human capital in Ho Chi Minh City.
The paper explained Generation Y as a strong workforce that is believed to be a driving force in succeeding industrial revolution. Similarly, generation Y also dominates various industries at global stage. It will become the most powerful human capital in coming years. However, retaining generation Y has become the worst scenario for employers around the world.
The paper aimed to identify the most significant human resource tools from extrinsic and intrinsic reward perspectives as a retention strategy for generation Y. About 175 generation Y academicians from private universities around Klang Valley in Malaysia participated in this research. Smart PLS version 3.2 was used to analyse the data that collected and the result showed under extrinsic, only working culture was significant whereas all the variables under intrinsic were significant with retention of generation Y.
Researchers, scholars and industrialists during the conference
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