Multi-generational differences in the philippine banking industry : guide in designing a strategic talent management framework / Retchie Jasper D. Lorenzo.

Dissertation (PHD) -- Pamantasan ng Lungsod ng Maynila, 2021.

A dissertation presented to the faculty of Graduate School of Business in partial fulfillment of the requirements for the Degree Doctor of Business Administration.

This dissertation entitled "Multi-generational Differences in the Philippine Banking Industry: Guide in Designing a Strategic Talent Management Framework" was prepared by RETCHIE JASPER D. LORENZO, in partial fulfillment of the requirements for the degree, Doctor of Business Administration, has passed the oral examination and evaluation before a Committee on Oral Examination of Dissertation. This was prepared under the supervision of Dr. Antonio Errol B. Ybañez, Jr.
This 249-page study is based on the Generational Cohort Theory that was developed by Inglehart (1977) and popularized by Strauss and Howe (1991). It aims to determine the multi-generational differences among Filipino employees who work in the Philippine banking industry in terms of their personal aspects, behavioral competencies, and job performance. This study would help to design a Strategic Talent Management Framework to build a workplace with mutual respect and collaboration which will eventually boost the job performance of employees.
This study utilized the descriptive-correlational method of research. The study was both quantitative and qualitative. It was conducted in Metro Manila, and a total of 305 bank employees who work at private domestic universal banks included in the top ten based on assets as of December 2019 served as respondents of this study. A purposive type of non-probability sampling was used in the selection of banks and employees. Slovin's formula was used to determine the sample size. An online Google form was used to conduct the survey. A self- assessment survey questionnaire was used as an instrument of the study. The survey questionnaire was composed of three self-made questionnaires and four adopted questionnaires with the authors' approvals to use. Descriptive statistics such as percentage, mean, and ranking as well as inferential statistics, such as one-way ANOVA and multiple regression, were performed to analyze and describe the data. Inferential statistics was used to test the hypotheses of the study.
The study found several relevant findings. First, it was found that there are only a few baby boomers left who are still working in the private domestic universal banks in Metro Manila. Moreover, some of the Generation Xers have also started to retire. Additionally, the biggest generation in the banking industry is the millennials. Second, the study also confirmed that each generational cohort has a unique set of personal aspects that needs to be addressed. Third, it was also found that the behavioral competencies of the three generational cohorts are at the advanced level. Fourth, the study revealed that the current level of the job performance of Generation Xers and millennials are lower compared with baby boomers. Fifth, the study found out that there is a significant difference in the generational cohorts' assessments of the personal aspects, behavioral competencies, and level of job performance. Sixth, the study also found that there is a significant relationship between the personal aspects and the level of the job performance on one hand, and the behavioral competencies and level of job performance on the other hand. Finally, the study found out that there is a limited program and guideline in managing the multi-generational bank employees that will create a culture of collaboration, respect, and high performance.
The study suggests the following recommendations. Firstly, the Human Resources of the banks, through collaboration with the Bankers Institute in the Philippines, should create trainings and programs that will help the transfer of knowledge and skills from older generations to the younger generations as part of succession management. Secondly, the implementation of flexible management for multi-generational employees. The "one-size-fits-all" approach and the traditional way of managing employees and of doing things should be modified. Third, there is still a need for further enhancement for employees to reach the highest level of competence to reach expert level. Fourth, the banks should ensure that generational cohorts maintain or even improve their level of performance. Fifth, the banks' Human Resources and management should acknowledge and recognize these differences and the challenges brought about by different generations in the workplace through the right information, education, and communication. Sixth, the banks' HR and management should develop plans and programs to address differences in personal aspects and behavioral competencies. Lastly, adopt a framework that helps manage the multi- generational diversity in the banking industry. Accordingly, this study forwards the adoption and implementation of the Strategic Talent Management Framework which will create not only a good camaraderie among bank employees but will likewise improve their job performance which subsequently will improve organizational performance.