FACTORS OF COMPENSATION AFFECTING WORK PERFORMANCE OF GENERATION Y : A CASE OF LOWER NORTHERN REGION PART OF THAILAND
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Abstract
This study aims to study the compensation factors affecting work performance of Generation Y: A Case of Lower Northern Region Part of Thailand. The cross-sectional quantitative research design was implemented by collecting in a single time with 400 Generation Ys by using the mean, and standard deviation to analyze the level of transactional compensation, non-directed monetary compensation (benefits), and relational compensation. In addition, the inferential statistics analysis which is ANOVA, Correlation as well as regression analysis were applied. The research found that factors of salary, merit pay, bonus, vacation, challenging work, career advancement, recognition, supervisor, work environment and colleague could predict the work performance of Generation Y.
The benefits of managing compensation with Generation could increase the organization reputation in the long run, reduce the cost of compensation, moreover, it could lead to less severe and better response to diversity management especially the Generational gap and conflict.
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