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Compensation and Benefits Satisfaction on Turnover Intention among Millennial Employees in Malaysia Construction Sector: A Conceptual Study

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The construction sector is a crucial contributor to Malaysia economic growth development. However, the COVID-19 outbreak caused notable interruptions to the construction sector and the employees. One of the most significant challenges is the employee’s shortage has been prolonged issue of construction sector in Malaysia, particularly involvement of millennials, which becomes more severe due to compensation and benefits stagnant and turnover intention issues. Compensation and benefits for employees are the key components that underpin the competitiveness of an organization. The ability of an organization to provide satisfactory compensation and benefits is a major factor in attracting and retaining competent millennial employees. The purpose of this conceptual paper is to describe and provide insight into the impact of the relationship between compensation and benefits on turnover intentions, which is mediated by job satisfaction in the construction sector. The study’s literature highlights, compensation and benefits that satisfy the demands and desires of employees not only grant a competitive advantage to the dynamics of the organization but also significantly influence the degree to which they are satisfied and their possible tendency to leaves their jobs. Through assessing the role of job satisfaction, the study strongly suggests that compensation and benefits have significant correlation on the turnover intentions of millennial employees.
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