Perceived Factors Contributing to Disconnect Between Generations at Rafiki Microfinance Bank

Abstract

In the corporate world new generations emerge as the years goes by. The study therefore set out to investigate perceived factors contributing to disconnect between generations at Rafiki Microfinance Bank. Available literature on the topic was reviewed to provide a guide to the study. The set objective was perceived factors contributing to disconnect between generations at Rafiki Microfinance Bank. The factors that contribute to disconnect include; technology, work-life balance, promotion, organisation culture, compensation expectations, career development expectations and mentorship. This study employed descriptive research design. The targeted population were employees at Rafiki Microfinance Bank. Purposive sampling technique was used were it focused with all employees at Nairobi branches that include Biashara street branch, Tom Mboya street branch, Westlands branch and Kayole branch. A sample of 160 employees was used. Primary data was used and the main instrument was a semi-structured questionnaire. The questionnaires were distributed and respondents were given a period of two weeks to fill them. After questionnaires were collected, data was analysed using descriptive statistics such as mean, standard deviation, frequencies, percentages and factor analysis. Findings were presented in form of tables, pie charts and graphs. The result of the study revealed that technology, work-life balance, promotion, organisation culture, compensation expectations, career development expectations and mentorship contribute to disconnect between generations. The findings recommended that Rafiki Microfinance Bank should come up with policies that will try minimize disconnect between generations for instance employees should embrace technological advancement without resistant. The organisation should embrace work-life balance. There should also be fairness in promotion and employees should know promotion is not only based on education but also experience and performance. The organisation should also allow casual dressing on specific days and employees should show respect to all generations in regardless of age. The compensation package should be reviewed and management should keep tabs on employees‟ career development in order to ensure each employee experiences career development and is not left behind in terms of career development. Older employees should offer guidance to younger generations on career development. The organisation should introduce mentorship programs in order to improve relations between older and younger generations. Suggestions for further research suggest that since Rafiki Microfinance Bank started its operations in 2011, other banks that have operated for more than twenty years should consider doing a similar research because it might have an equal mix of all generations. Apart from the banking Industry others sectors should also consider to do a similar research. Other researchers should also consider other factors that contribute to disconnect in future apart from the ones mentioned in the study. Lastly, more research should be done on multi generational relations.