Development of self-perceived competencies scale for millennials

This study investigates the self-perceived competencies of millennials in the banking sector of Pakistan through qualitative and quantitative approaches (Mixed Methods). It aims to develop a comprehensive scale for identifying and assessing these competencies, bridging a critical research gap in understanding the unique attributes of this generation. Drawing from human capital theory, a scale was meticulously crafted to measure millennials’ self-perceived competencies. Initially, 36 semi-structured interviews were conducted with millennial employees from the top ten banks, followed by thematic content analysis using NVivo 12 software. Subsequently, data was collected from 802 employees through a questionnaire based on the initial study’s results. A conceptual framework was formulated, guiding the creation of a psychometric scale tailored to identify and assess these competencies. Analysis, conducted using AMOS 24, revealed insights crucial for managers and organizational leaders in addressing human resource challenges effectively. Recognizing and nurturing these competencies are vital for workforce development. This study contributes to existing knowledge by shedding light on the often-overlooked self-perceived competencies of millennials, offering valuable insights for organizations seeking to optimize their workforce capabilities. Given the novelty of this research, its findings have significant practical implications for organizations in Pakistan’s banking sector and beyond.