An exploratory study on employee motivation factors: for MBA students

An exploratory study on employee motivation factors: for MBA students (information from perplexity.ai)

My question 1: "What is the topic of employee motivation factors all about with reference to gen z working in the Hong Kong financial service sector in 2025?"

The reply: "The topic of employee motivation factors concerning Generation Z (Gen Z) working in Hong Kong's financial services sector in 2025 centers on understanding the unique career aspirations, work preferences, and values of this cohort, and how these influence their engagement, retention, and productivity in the industry.

1. Changing Career Aspirations and Values

Gen Z employees, born between 1997 and 2012, prioritize meaningful work that aligns with their personal values over traditional motivators like high compensation or job security. They seek purpose and impact in their roles, emphasizing work-life balance and personal fulfillment rather than just career advancement or financial rewards1. This shift is significant in the financial services sector, which traditionally emphasized clear career paths and long working hours.

2. Work-Life Balance and Flexibility

A dominant motivation for Gen Z is achieving a healthy work-life balance. They prefer flexible working arrangements, including hybrid work models, which allow them to manage their time effectively and reduce burnout. The long-hours culture prevalent in Hong Kong's financial sector is a deterrent for many young professionals, who increasingly opt for roles that offer autonomy and flexibility36.

3. Desire for Continuous Learning and Development

Gen Z values opportunities for continuous learning and skill development, especially in emerging areas like fintech, AI, and data analytics. They are tech-savvy and attracted to roles that allow them to leverage technology and innovate, rather than traditional finance roles that may seem rigid or monotonous14.

4. Financial and Lifestyle Motivations

While Gen Z in Hong Kong is motivated by lifestyle goals such as travel and entertainment, they also demonstrate strong financial discipline. Surveys show that many save a significant portion of their income and start investing at a younger age than previous generations. Travel is a key motivator for work, often surpassing traditional goals like home ownership or starting a family. This reflects a "play hard, work hard" mindset where enjoyment and personal experiences are highly valued25.

5. Mental Health and Well-being

Mental health is a critical factor influencing Gen Z's motivation. They seek workplaces that support well-being through initiatives like mental wellness workshops and supportive leadership. They prefer managers who are approachable and foster a collaborative, less hierarchical environment3.

6. Talent Retention Challenges

Hong Kong's financial services sector faces high turnover rates, partly due to Gen Z's changing expectations. Retaining young talent requires addressing their priorities around meaningful work, flexibility, and career development. The sector is adapting by promoting fintech ecosystems and digital transformation to attract and retain tech-savvy Gen Z professionals14.

In conclusion, employee motivation for Gen Z in Hong Kong's financial services sector in 2025 revolves around balancing meaningful, flexible work with opportunities for growth and well-being, alongside lifestyle and financial aspirations. Employers must adapt to these factors to attract, engage, and retain this emerging workforce effectively123456."

My question 2: "What are the theories employed to study this topic?"

The reply: "The study of employee motivation factors for Generation Z (Gen Z) in the Hong Kong financial services sector in 2025 commonly employs several established motivation theories to understand what drives this cohort at work. The key theories used include:

1. 

This theory distinguishes between hygiene factors (such as working conditions, salary, job security) and motivator factors (such as achievement, recognition, responsibility) that influence employee motivation and satisfaction. Research shows that both hygiene and motivator factors are important to Gen Z’s motivation. For example, Gen Z values a safe and comfortable work environment (hygiene) as well as opportunities for growth and increased responsibility (motivators). Managers can motivate Gen Z by recognizing achievements and offering meaningful rewards tailored to their preferences16.

2. 

SDT emphasizes intrinsic motivation driven by autonomy, competence, and relatedness. Studies applying SDT to Gen Z highlight their strong desire for autonomy at work, including flexible work arrangements like teleworking. Gen Z is motivated by job characteristics that provide meaningful work, opportunities for learning and professional development, and a positive work culture. The theory helps explain why Gen Z values work-person fit, purpose, and supportive relationships at work26.

3. 

This theory links specific job attributes—such as task variety, significance, autonomy, and feedback—to employee motivation. Research on Gen Z suggests that job characteristics strongly influence their motivation, with exciting tasks, cross-training, and professional growth opportunities being key motivators. Conversely, long working hours, pressure, and low pay are demotivating factors2.

4. 

Studies show Gen Z places greater emphasis on intrinsic motivators like meaningful work, personal growth, and alignment with values, while extrinsic motivators such as financial rewards and benefits still play a supportive role. The combination of intrinsic and extrinsic factors enhances job satisfaction and organizational commitment among Gen Z employees6.

These theories collectively provide a comprehensive framework to analyze and address the motivational needs of Gen Z employees in Hong Kong’s financial services sector, helping employers tailor strategies to attract, engage, and retain this generation effectively126."

My question 3: "What are the research gaps and research issues on this topic?"

The reply: "Research gaps and issues on the topic of employee motivation factors for Gen Z working in Hong Kong’s financial services sector in 2025 include the following:

Research Gaps

• Skills and Talent Mismatch
  There is a lack of comprehensive understanding of the specific skills gap between Gen Z talents and the evolving demands of Hong Kong’s financial services sector, especially in areas like AI, data analytics, and fintech. While technical and soft skills gaps are identified, detailed studies on how these gaps affect motivation and retention of Gen Z employees remain limited127.

• Impact of Digital Transformation on Motivation
  Although digital transformation is reshaping the sector, research is sparse on how new technologies and automation influence Gen Z’s motivation, job satisfaction, and career expectations within financial services in Hong Kong127.

• Hybrid Work Preferences and Organizational Adaptation
  While it is known that nearly 80% of Gen Z workers in Hong Kong prefer hybrid working, there is insufficient research on how financial institutions are adapting their culture, management practices, and motivation strategies to this preference and its long-term effects on productivity and engagement3.

• Financial Literacy and Personal Financial Goals
  There is a research gap regarding how Gen Z’s financial literacy and personal financial goals (such as early investing and lifestyle spending) influence their motivation and career choices in the financial sector4.

• Mental Health and Well-being
  Although mental health is recognized as important, there is limited empirical research on how mental health initiatives and workplace well-being programs specifically affect Gen Z motivation and retention in Hong Kong’s financial services industry.

• Cultural and Regional Specificity
  Most motivation theories and studies are generalized or based on Western contexts. There is a need for more localized research that considers Hong Kong’s unique cultural, economic, and regulatory environment and how these factors shape Gen Z’s motivation in financial services12.

Research Issues

• Talent Retention Amidst High Turnover
  The sector faces challenges in retaining Gen Z talent due to changing employee priorities such as work-life balance, meaningful work, and flexible work arrangements. Research is needed to identify effective retention strategies tailored to Gen Z’s expectations23.

• Balancing Intrinsic and Extrinsic Motivators
  Determining the optimal balance between intrinsic motivators (purpose, growth, autonomy) and extrinsic rewards (salary, benefits) for Gen Z remains an issue, especially in a high-pressure, traditionally extrinsic-reward-driven sector like finance25.

• Adapting Leadership and Management Styles
  There is an ongoing issue in how leadership and management styles in financial firms can evolve to better motivate and engage Gen Z employees, who prefer less hierarchical and more inclusive work environments28.

• Effect of Economic and Regulatory Changes
  The impact of Hong Kong’s economic shifts, regulatory tightening, and Greater Bay Area integration on Gen Z’s motivation and career development opportunities in financial services is underexplored15.

• Measuring Motivation Outcomes
  There is a methodological challenge in accurately measuring motivation outcomes and linking them to performance, engagement, and retention specifically for Gen Z in the financial sector.

In summary, research on Gen Z employee motivation in Hong Kong’s financial services sector needs to address skill mismatches, digital transformation impacts, hybrid work adaptation, financial literacy influences, mental health effects, and cultural specificity. It also faces issues related to retention, balancing motivators, leadership adaptation, economic/regulatory impacts, and measurement challenges1234578."

My question 4: "What are the public media-reported issues on this topic?"

The reply: "Public media reports highlight several key issues related to employee motivation factors for Gen Z working in Hong Kong’s financial services sector in 2025:

• Preference for Hybrid and Flexible Work
  Nearly 80% of Gen Z workers in Hong Kong prefer hybrid working arrangements, valuing flexibility and work-life balance. A lack of such flexibility is a major reason why about 30% of workers have left previous jobs. This clashes with Hong Kong’s traditionally long-hours, hierarchical work culture, creating tension between Gen Z expectations and existing workplace norms247.

• Mental Health and Well-being Concerns
  Gen Z employees are increasingly concerned about burnout, anxiety, and mental health. Surveys show that about 31% of millennials and Gen Zers want workplaces to offer mental wellness workshops. They also seek managers who are approachable and foster a collaborative, less hierarchical environment, which is challenging in Hong Kong’s professional culture4.

• High Turnover and Job Dissatisfaction
  Hong Kong’s financial services sector faces high staff turnover, with an average rate of 24.1% in 2022. Many young workers “quiet quit” or leave due to job dissatisfaction, unmet expectations for meaningful work, and poor work-life balance. Over half of Hong Kong workers are considering job changes in 2025 due to unsatisfactory rewards and feeling undervalued168.

• Changing Career Motivations
  Gen Z prioritizes meaningful work aligned with personal values, continuous learning, and development opportunities over traditional motivators like job security and salary. They are also motivated by lifestyle goals such as travel, with over 70% identifying travel as a main motivation for work, surpassing home ownership and family-starting goals. Despite this, they maintain strong financial discipline, saving and investing early56.

• Talent Development and Skills Demand
  The sector is experiencing a high demand for talents with strong technical skills, especially in AI, data analytics, and fintech. There is a need for collaborative efforts among industry, academia, and government to cultivate a fintech talent pipeline. The rapid digital transformation is reshaping career aspirations and motivation among Gen Z professionals36.

• Cultural and Structural Challenges
  Gen Z’s preference for flatter hierarchies and more collaborative work environments contrasts with Hong Kong’s traditionally hierarchical and rule-bound workplaces. The long-hours culture remains a significant barrier to attracting and retaining young talent47.

In summary, public media reports emphasize Gen Z’s demand for flexible work, mental health support, meaningful and growth-oriented careers, and lifestyle-aligned motivations, while highlighting challenges such as high turnover, cultural mismatches, and the need for talent development in the financial services sector in Hong Kong12345678."

My question 5: "Suggest 4 related research objectives and 2 related research questions on this topic, and then comment on the originality, academic and practical values of studying these research objectives and questions."

The reply: "Here are suggested research objectives and questions related to employee motivation factors for Gen Z in Hong Kong’s financial services sector in 2025, followed by comments on their originality, academic, and practical values:

• To examine the key intrinsic and extrinsic motivation factors influencing Gen Z employees in Hong Kong’s financial services sector.

• To analyze the impact of lifestyle priorities, such as travel and financial discipline, on Gen Z’s work motivation and career choices.

• To investigate how flexible work arrangements and autonomy affect Gen Z’s job satisfaction and retention in the financial services industry.

• To explore the role of continuous learning and digital skills development in motivating Gen Z employees within Hong Kong’s evolving fintech landscape.

• What are the primary motivation factors that drive Gen Z employees’ engagement and retention in Hong Kong’s financial services sector?

• How do Gen Z’s lifestyle goals, including travel and financial planning, influence their work motivation and career decisions in the financial industry?

:

These objectives and questions address a relatively new and rapidly evolving workforce segment—Gen Z—in a specific and dynamic context: Hong Kong’s financial services sector in 2025. The focus on lifestyle-driven motivations (e.g., travel), early financial discipline, and the intersection with digital transformation and flexible work arrangements offers fresh insights beyond traditional motivation studies, which often emphasize salary and job security alone1234.

:

Studying these objectives contributes to filling research gaps around Gen Z’s unique motivational drivers, especially in a culturally and economically distinct environment like Hong Kong. It advances understanding of how contemporary socio-economic factors and technological changes shape motivation theories (e.g., Herzberg, SDT) when applied to this generation. It also enriches literature on workforce management in the financial sector amid digital disruption68.

:

The findings can guide financial institutions in Hong Kong to design targeted HR policies and workplace practices that align with Gen Z’s values and expectations, such as flexible work, meaningful career development, and support for lifestyle goals. This can improve talent attraction, engagement, and retention, addressing high turnover and skills shortages. Moreover, insights into Gen Z’s financial behaviors can help firms tailor employee benefits and financial wellness programs effectively1369.

This combination of objectives and questions thus offers a comprehensive, timely, and actionable framework for both scholarly inquiry and industry application."

Reference: 

A collection of blog notes on using chatgpt for research purpose.