THE IMPACT OF EXTRINSIC MOTIVATION AND WORK-LIFE BALANCE ON GENERATION Y’S CONTENTMENT OF PRIVATE SECTORS IN BANGLADESH

Background and Purpose: Generation Y employees often have frequent job dissatisfaction with the private sector, causing job-hopping. The dissatisfaction has been identified as related to the problems in the workplace and family. Due to the fact that the problems have not been much highlighted; hence, this paper aims to investigate the impact of Work-Life Balance (WLB) on Generation Y's job satisfaction in Bangladesh's private sectors.    Methodology: This descriptive case study adopted a quantitative method to reach the research objectives. In this quantitative study, Smart Partial Least Square (PLS) was used to empirically test the model and mediating effects of the extrinsic motivational factors between work-life balance and job satisfaction. Data was collected through survey questionnaires with 24 items adopted from the previous studies; six from work-life balance, six from job satisfaction, and twelve from extrinsic motivation. A total of 500 usable samples were collected randomly from small private entrepreneur industries in Bangladesh. Findings: The results showed a significant positive relationship between work-life balance, job satisfaction, and extrinsic motivation of Generation Y. In the case of ascertaining the mediating effect, the extrinsic factors are substantial. However, the proposed strategies on Gen Y’s job satisfaction and the mediating effects of extrinsic motivational factors have not been investigated either in the Bangladeshi context or any other context.   Contributions: The findings and recommendations of this manuscript are valuable to the relevant parties, especially the stakeholders in the private sectors. The government, leadership, and management are more likely to understand employees' job satisfaction among Generation Y in this study. The outcomes of the research help to formulate and redesign job satisfaction strategies for organizational productivity and overall success. The study contributes to the body of knowledge by identifying the causal relationships of WLB, extrinsic motivational factors, and employees' job satisfaction among Generation Y.    Keywords: Extrinsic motivation, generation Y, job satisfaction, work-life balance.   Cite as: Kabir Bhuiyan, M. M., Hassan, M. M., Alam, M. K., Thakur, O. A., & Nasrin, H. (2023). The impact of extrinsic motivation and work-life balance on generation Y’s contentment of private sectors in Bangladesh.  Journal of Nusantara Studies, 8(1), 1-25. http://dx.doi.org/10.24200/jonus.vol8iss1pp1-25