Dynamics of CSR and Employee Retention: A Generational Perspective
Abstract
The main objective of this study is to gain insights into the five corporate social responsibility (CSR) factors— environment-related CSR, human rights & labor, product responsibility, community engagement, and corporate governance— and to understand their impact on employee retention among gen X, Y, and Z employees in the workplace during the Covid-19 pandemic. We collected survey data using Amazon Mechanical Turk, with a final sample size of 536 responses. The regression analyses indicated a positive and significant relationship between environment-related CSR and employee retention. The results also suggested that both human rights and labor-related CSR, as well as product responsibility-related CSR, are positively related to higher employee retention. Additionally, generational differences moderated the effect of environment-related CSR on employee retention, with a stronger correlation observed among gen Y and Z employees compared to gen X. These findings help reconcile mixed evidence on CSR–retention links by emphasizing generational differences and offering practical guidance. Managers aiming to retain talent should prioritize environmental stewardship, fair labor practices, and responsible products while tailoring CSR initiatives to the preferences of different employee cohorts.
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References
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Abebe, M. A., & Acharya, K. (2022). Founder CEOs and corporate environmental violations: Evidence from S&P 1500 firms. Business Strategy & the Environment, 31(3), 1204-1219. https://doi.org/10.1002/bse.2950.
Abebe, M. A., Jones, C., & Acharya, K. (2020). Busy directors and the occurrence of corporate environmental misconduct. Academy of Management Proceedings, 1, 20794. https://journals.aom.org/doi/10.5465/AMBPP.2020.179.
Ali, K. M., & Ghaffar, E. S. A. (2022). The effect of corporate social responsibility on debt finance: The moderating effect of accounting conservatism. Journal of Accounting, Business & Management, 29(1), 67-83. https://doi.org/10.31966/jabminternational.v29i1.821.
Baumgartner, S. (2019). On the CSR perception of millennials: An anaylsis among school of management and law students. Winterthur: ZHAW Zürcher Hochschule Für Angewandte Wissenschaften.
Bode, C., Singh, J., & Rogan, M. (2015). Corporate social initiatives and employee retention. Organization Science, 26(6), 1702-1720. https://doi.org/10.1287/orsc.2015.1006.
Bolourian, S., Angus, A., & Alinaghian, L. (2021). The impact of corporate governance on corporate social responsibility at the board-level: A critical assessment. Journal of Cleaner Production, 291, 125752. https://doi.org/10.1016/j.jclepro.2020.125752.
Cheruiyot, T. K., & Maru, L. C. (2014). Corporate human rights social responsibility and employee job outcomes in Kenya. International Journal of Law & Management, 56(2), 152-168. https://doi.org/10.1108/IJLMA-01-2013-0002.
Cochran, P. L. (2007). The evolution of corporate social responsibility. Business Horizons, 50(6), 449-454. https://doi.org/10.1016/j.bushor.2007.06.004.
Cohen, M., Cavazotti, F., Costa, T., & Ferreira, K. (2017). Corporate social-environmental responsibility as an attraction and retention factor for young professionals. Brazilian Business Review, 14(1), 21-41. https://doi.org/10.15728/bbr.2017.14.1.2.
Crinis, V. (2019). Corporate social responsibility, human rights and clothing workers in Bangladesh and Malaysia. Asian Studies Review, 43(2), 295-312. https://doi.org/10.1080/10357823.2019.1588850.
Cyfert, S., Glabiszewski, W., & Zastempowski, M. (2021). Impact of management tools supporting industry 4.0 on the importance of CSR during Covid-19. Generation Z. Energies, 14(6), 1642. https://doi.org/10.3390/en14061642.
Fahad, P., & Rahman, P. M. (2020). Impact of corporate governance on CSR disclosure. International Journal of Disclosure & Governance, 17(2-3), 155–167. https://doi.org/10.1057/s41310-020-00082-1.
Gale, S. F. (2018, September 7). What HR leaders need to know about generation Z. Workforce, 97(5), 10–10. https://workforce.com/news/what-hr-leaders-need-to-know-about-generation-z.
Grolleau, G., Mzoughi, N., & Pekovic, S. (2012). Green not(only) for profit: An empirical examination of the effect of environmental-related standards on employees’ recruitment. Resource & Energy Economics, 34(1), 74-92. https://doi.org/10.1016/j.reseneeco.2011.10.002.
Halpern, B. H., & Snider, K. F. (2012). Products that kill and corporate social responsibility: The Case of U.S. defense firms. Armed Forces & Society, 38(4), 604-624. https://doi.org/10.1177/0095327X11415490.
Hoang, A. D. (2020). Pandemic and teacher retention: Empirical evidence from expat teachers in southeast Asia during Covid-19. International Journal of Sociology & Social Policy, 40(9/10), 1141-1166. https://doi.org/10.1108/IJSSP-07-2020-0269.
Holly, D. (2019). Attract and retain talent with CSR programs. Talent Development Magazine, 73(4), 102-103.
Ikram, A., Fiaz, M., Mahmood, A., Ahmad, A., & Ashfaq, R. (2021). Internal corporate responsibility as a legitimacy strategy for branding and employee retention: A perspective of higher education institutions. Journal of Open Innovation: Technology, Market, & Complexity, 7(1), 52. https://doi.org/10.3390/joitmc7010052.
Jarkovská, P., & Jarkovská, M. (2021). Corporate social responsibility of small- to medium-size enterprises as a solution to out-migration: an example from the hospitality sector. GeoScapes, 15(1), 43-52. https://doi.org/10.2478/geosc-2021-0004.
Kennedy, P. (2003). A guide to econometrics (5th ed.). Cambridge: Massachusetts Institute of Technology Press.
Laivaite, A. (2011, May). CSR communication and millennials: A study of the most appropriate ways to communicate CSR to young consumers in Sweden. Master Thesis in Communication. University of Gothenburg, Department of Applied Information Technology Gothenburg, Sweden.
Lewing, J. M., & York, P. E. (2017). Millennial generation faculty: Why they engage in service learning. Journal of Community Engagement & Higher Education, 9(3), 35-47. https://files.eric.ed.gov/fulltext/EJ1271566.pdf.
McDonald, V. (2017). Power and responsibility: How corporate social responsibility can be used as a retention tactic for millennials in the workplace. Thesis, Regis University Student Publications. Retrieved from https://epublications.regis.edu/theses/811.
Moisescu, O. I. (2015). The impact of customers’ perception of CSR on corporate brand loyalty: The case of the Romanian mobile telecom industry. Central European Business Review, 4(2), 21-30. https://doi.org/10.18267/j.cebr.123.
Moisescu, O. I., & Gică, O. A. (2020). The impact of environmental and social responsibility on customer loyalty: A multigroup analysis among generations X and Y. International Journal of Environmental Research & Public Health, 17(18), 6466. https://doi.org/10.3390/ijerph17186466.
Newell, A. P. (2014). Corporate social responsibility: Challenges, benefits and impact on business performance. New York, USA: Nova Science Publishers, Inc.
O’Connor, A., Paskewitz, E. A., Jorgenson, D. A., & Rick, J. M. (2016). How changes in work structure influence employees’ perceptions of CSR: Millionaire managers and locked-out laborers. Journal of Applied Communication Research, 44(1), 40-59. https://doi.org/10.1080/00909882.2015.1116706.
Ohlrich, K. (2011). Analyzing corporate social responsibility’s impact on employee attraction and retention with a focus on generation Y. Doctoral dissertation. Fielding Graduate University, Santa Barbara, CA, USA. Retrieved from https://search.proquest.com/openview/2b20907619d72e218c7eadb5c8eab2f9/1?pq-origsite=gscholar&cbl=18750&diss=y.
Palazzi, M., & Starcher, G. (1998). Corporate social responsibility and business success. Paris: European Bahá’í Business Forum.
Panwar, R., Nybakk, E., Hansen, E., & Pinkse, J. (2016). The effect of small firms’ competitive strategies on their community and environmental engagement. Journal of Cleaner Production, 129, 578-585. https://doi.org/10.1016/j.jclepro.2016.03.141.
Saeed, M. E. A., Muslim, N. A., Rahim, A. H. A., Rasli, M. A. M., Ghani, F. A., & Redzuan, N. A. Z. A. (2018). Millennials motivation factors and job retention: An evidence from oil and gas company in Malaysia. Global Business & Management Research: An International Journal, 10(3), 761-768.
Sharma, S., & Mishra, P. (2019). Hotel employees’ perceptions about CSR initiatives and there potential to support the skill India initiative. Worldwide Hospitality & Tourism Themes, 11(1), 78-86.
Sheopuri, A., & Sheopuri, A. (2015). Green HR practices in the changing workplace. Business Dimensions, 2(1), 13-26.
Shetty, B., & Gujarathi, R. (2013). Hospitals green practices as drivers of talent retention. Journal of Organisation & Human Behaviour, 2(3), 9-16. http://www.publishingindia.com/johb/48/hospitals-green-practices-as-drivers-of-talent-retention/258/1927/.
Soundarapandiyan, K., & Ganesh, M. (2015). Employee retention strategy with reference to Chennai based ITeS industry-an empirical study. Global Management Review, 9(2), 1-13.
Sprinkle, G. B., & Maines, L. A. (2010). The benefits and costs of corporate social responsibility. Business Horizons, 53(5), 445-453. https://EconPapers.repec.org/RePEc:eee:bushor:v:53:y::i:5:p:445-453.
Staheli, J. (2018). Corporate social responsibility: What’s at stake for business leaders today. Secured Lender, 74(2), 30-33.
Valantina, I., & Niranjini, N. (2019). (2019). Contemporary CSR and green HRM practices by the organizations to attain sustainability in the millennial age. Emperor International Journal of Finance & Management Research, 1(2), 118-126.
Vittinghoff, E., Glidden, D. V., Shiboski, S. C., & McCulloch, C. E. (2012). Predictor selection. In Regression methods in biostatistics: Linear, logistic, survival, and repeated measures models (pp. 395-429). New York, NY: Springer Science & Business Media.
Vukic, N. M., Omazic, M. A., & Fredotovic, A. A. (2018). Exploring the link between corporate stakeholder orientation and quality of corporate social responsibility reporting. Interdisciplinary Description of Complex Systems, 16(2), 275-288. https://doi.org/10.7906/indecs.16.2.7.
Williams, A. (2018). The semiotics of wine labeling: A study of millennial perception. University Honors Theses, Portland State University. https://doi.org/10.15760/honors.546.
Wulf, J., & Singh, H. (2011). How do acquirers retain successful target CEOs? The role of governance. Management Science, 57(12), 2101-2114. https://doi.org/10.1287/mnsc.1110.1414.
Zaharee, M., Lipkie, T., Mehlman, S. K., & Neylon, S. K. (2018). Recruitment and retention of early-career technical talent. Research-Technology Management, 61(5), 51-61. https://doi.org/10.1080/08956308.2018.1495966.
Zainee, I. A., & Puteh, F. (2020). Corporate social responsibility impact on talent retention among generation Y. Revista de Gestão, 27(4), 369-392. https://doi.org/10.1108/REGE-06-2019-0070.
Abebe, M. A., & Acharya, K. (2022). Founder CEOs and corporate environmental violations: Evidence from S&P 1500 firms. Business Strategy & the Environment, 31(3), 1204-1219. https://doi.org/10.1002/bse.2950.
Abebe, M. A., Jones, C., & Acharya, K. (2020). Busy directors and the occurrence of corporate environmental misconduct. Academy of Management Proceedings, 1, 20794. https://journals.aom.org/doi/10.5465/AMBPP.2020.179.
Ali, K. M., & Ghaffar, E. S. A. (2022). The effect of corporate social responsibility on debt finance: The moderating effect of accounting conservatism. Journal of Accounting, Business & Management, 29(1), 67-83. https://doi.org/10.31966/jabminternational.v29i1.821.
Baumgartner, S. (2019). On the CSR perception of millennials: An anaylsis among school of management and law students. Winterthur: ZHAW Zürcher Hochschule Für Angewandte Wissenschaften.
Bode, C., Singh, J., & Rogan, M. (2015). Corporate social initiatives and employee retention. Organization Science, 26(6), 1702-1720. https://doi.org/10.1287/orsc.2015.1006.
Bolourian, S., Angus, A., & Alinaghian, L. (2021). The impact of corporate governance on corporate social responsibility at the board-level: A critical assessment. Journal of Cleaner Production, 291, 125752. https://doi.org/10.1016/j.jclepro.2020.125752.
Cheruiyot, T. K., & Maru, L. C. (2014). Corporate human rights social responsibility and employee job outcomes in Kenya. International Journal of Law & Management, 56(2), 152-168. https://doi.org/10.1108/IJLMA-01-2013-0002.
Cochran, P. L. (2007). The evolution of corporate social responsibility. Business Horizons, 50(6), 449-454. https://doi.org/10.1016/j.bushor.2007.06.004.
Cohen, M., Cavazotti, F., Costa, T., & Ferreira, K. (2017). Corporate social-environmental responsibility as an attraction and retention factor for young professionals. Brazilian Business Review, 14(1), 21-41. https://doi.org/10.15728/bbr.2017.14.1.2.
Crinis, V. (2019). Corporate social responsibility, human rights and clothing workers in Bangladesh and Malaysia. Asian Studies Review, 43(2), 295-312. https://doi.org/10.1080/10357823.2019.1588850.
Cyfert, S., Glabiszewski, W., & Zastempowski, M. (2021). Impact of management tools supporting industry 4.0 on the importance of CSR during Covid-19. Generation Z. Energies, 14(6), 1642. https://doi.org/10.3390/en14061642.
Fahad, P., & Rahman, P. M. (2020). Impact of corporate governance on CSR disclosure. International Journal of Disclosure & Governance, 17(2-3), 155–167. https://doi.org/10.1057/s41310-020-00082-1.
Gale, S. F. (2018, September 7). What HR leaders need to know about generation Z. Workforce, 97(5), 10–10. https://workforce.com/news/what-hr-leaders-need-to-know-about-generation-z.
Grolleau, G., Mzoughi, N., & Pekovic, S. (2012). Green not(only) for profit: An empirical examination of the effect of environmental-related standards on employees’ recruitment. Resource & Energy Economics, 34(1), 74-92. https://doi.org/10.1016/j.reseneeco.2011.10.002.
Halpern, B. H., & Snider, K. F. (2012). Products that kill and corporate social responsibility: The Case of U.S. defense firms. Armed Forces & Society, 38(4), 604-624. https://doi.org/10.1177/0095327X11415490.
Hoang, A. D. (2020). Pandemic and teacher retention: Empirical evidence from expat teachers in southeast Asia during Covid-19. International Journal of Sociology & Social Policy, 40(9/10), 1141-1166. https://doi.org/10.1108/IJSSP-07-2020-0269.
Holly, D. (2019). Attract and retain talent with CSR programs. Talent Development Magazine, 73(4), 102-103.
Ikram, A., Fiaz, M., Mahmood, A., Ahmad, A., & Ashfaq, R. (2021). Internal corporate responsibility as a legitimacy strategy for branding and employee retention: A perspective of higher education institutions. Journal of Open Innovation: Technology, Market, & Complexity, 7(1), 52. https://doi.org/10.3390/joitmc7010052.
Jarkovská, P., & Jarkovská, M. (2021). Corporate social responsibility of small- to medium-size enterprises as a solution to out-migration: an example from the hospitality sector. GeoScapes, 15(1), 43-52. https://doi.org/10.2478/geosc-2021-0004.
Kennedy, P. (2003). A guide to econometrics (5th ed.). Cambridge: Massachusetts Institute of Technology Press.
Laivaite, A. (2011, May). CSR communication and millennials: A study of the most appropriate ways to communicate CSR to young consumers in Sweden. Master Thesis in Communication. University of Gothenburg, Department of Applied Information Technology Gothenburg, Sweden.
Lewing, J. M., & York, P. E. (2017). Millennial generation faculty: Why they engage in service learning. Journal of Community Engagement & Higher Education, 9(3), 35-47. https://files.eric.ed.gov/fulltext/EJ1271566.pdf.
McDonald, V. (2017). Power and responsibility: How corporate social responsibility can be used as a retention tactic for millennials in the workplace. Thesis, Regis University Student Publications. Retrieved from https://epublications.regis.edu/theses/811.
Moisescu, O. I. (2015). The impact of customers’ perception of CSR on corporate brand loyalty: The case of the Romanian mobile telecom industry. Central European Business Review, 4(2), 21-30. https://doi.org/10.18267/j.cebr.123.
Moisescu, O. I., & Gică, O. A. (2020). The impact of environmental and social responsibility on customer loyalty: A multigroup analysis among generations X and Y. International Journal of Environmental Research & Public Health, 17(18), 6466. https://doi.org/10.3390/ijerph17186466.
Newell, A. P. (2014). Corporate social responsibility: Challenges, benefits and impact on business performance. New York, USA: Nova Science Publishers, Inc.
O’Connor, A., Paskewitz, E. A., Jorgenson, D. A., & Rick, J. M. (2016). How changes in work structure influence employees’ perceptions of CSR: Millionaire managers and locked-out laborers. Journal of Applied Communication Research, 44(1), 40-59. https://doi.org/10.1080/00909882.2015.1116706.
Ohlrich, K. (2011). Analyzing corporate social responsibility’s impact on employee attraction and retention with a focus on generation Y. Doctoral dissertation. Fielding Graduate University, Santa Barbara, CA, USA. Retrieved from https://search.proquest.com/openview/2b20907619d72e218c7eadb5c8eab2f9/1?pq-origsite=gscholar&cbl=18750&diss=y.
Palazzi, M., & Starcher, G. (1998). Corporate social responsibility and business success. Paris: European Bahá’í Business Forum.
Panwar, R., Nybakk, E., Hansen, E., & Pinkse, J. (2016). The effect of small firms’ competitive strategies on their community and environmental engagement. Journal of Cleaner Production, 129, 578-585. https://doi.org/10.1016/j.jclepro.2016.03.141.
Saeed, M. E. A., Muslim, N. A., Rahim, A. H. A., Rasli, M. A. M., Ghani, F. A., & Redzuan, N. A. Z. A. (2018). Millennials motivation factors and job retention: An evidence from oil and gas company in Malaysia. Global Business & Management Research: An International Journal, 10(3), 761-768.
Sharma, S., & Mishra, P. (2019). Hotel employees’ perceptions about CSR initiatives and there potential to support the skill India initiative. Worldwide Hospitality & Tourism Themes, 11(1), 78-86.
Sheopuri, A., & Sheopuri, A. (2015). Green HR practices in the changing workplace. Business Dimensions, 2(1), 13-26.
Shetty, B., & Gujarathi, R. (2013). Hospitals green practices as drivers of talent retention. Journal of Organisation & Human Behaviour, 2(3), 9-16. http://www.publishingindia.com/johb/48/hospitals-green-practices-as-drivers-of-talent-retention/258/1927/.
Soundarapandiyan, K., & Ganesh, M. (2015). Employee retention strategy with reference to Chennai based ITeS industry-an empirical study. Global Management Review, 9(2), 1-13.
Sprinkle, G. B., & Maines, L. A. (2010). The benefits and costs of corporate social responsibility. Business Horizons, 53(5), 445-453. https://EconPapers.repec.org/RePEc:eee:bushor:v:53:y::i:5:p:445-453.
Staheli, J. (2018). Corporate social responsibility: What’s at stake for business leaders today. Secured Lender, 74(2), 30-33.
Valantina, I., & Niranjini, N. (2019). (2019). Contemporary CSR and green HRM practices by the organizations to attain sustainability in the millennial age. Emperor International Journal of Finance & Management Research, 1(2), 118-126.
Vittinghoff, E., Glidden, D. V., Shiboski, S. C., & McCulloch, C. E. (2012). Predictor selection. In Regression methods in biostatistics: Linear, logistic, survival, and repeated measures models (pp. 395-429). New York, NY: Springer Science & Business Media.
Vukic, N. M., Omazic, M. A., & Fredotovic, A. A. (2018). Exploring the link between corporate stakeholder orientation and quality of corporate social responsibility reporting. Interdisciplinary Description of Complex Systems, 16(2), 275-288. https://doi.org/10.7906/indecs.16.2.7.
Williams, A. (2018). The semiotics of wine labeling: A study of millennial perception. University Honors Theses, Portland State University. https://doi.org/10.15760/honors.546.
Wulf, J., & Singh, H. (2011). How do acquirers retain successful target CEOs? The role of governance. Management Science, 57(12), 2101-2114. https://doi.org/10.1287/mnsc.1110.1414.
Zaharee, M., Lipkie, T., Mehlman, S. K., & Neylon, S. K. (2018). Recruitment and retention of early-career technical talent. Research-Technology Management, 61(5), 51-61. https://doi.org/10.1080/08956308.2018.1495966.
Zainee, I. A., & Puteh, F. (2020). Corporate social responsibility impact on talent retention among generation Y. Revista de Gestão, 27(4), 369-392. https://doi.org/10.1108/REGE-06-2019-0070.
Published
2025-11-03
How to Cite
LEE, C. Christopher; HWANG, David; ACHARYA, Keshab.
Dynamics of CSR and Employee Retention: A Generational Perspective.
Journal of Accounting, Business and Management (JABM), [S.l.], v. 32, n. 2, p. 33-49, nov. 2025.
ISSN 2622-2167.
Available at: <https://journal.stie-mce.ac.id/index.php/jabminternational/article/view/1246>. Date accessed: 13 nov. 2025.
doi: https://doi.org/10.31966/jabminternational.v32i2.1246.
Section
Articles
