Employee motivation is vital to organizational effectiveness and has influenced management practices and industrial organizational psychology. Organizations have escalating challenges stemming from globalization, competitive demands, and the characteristics of a multigenerational workforce. Comprehending the factors that motivate personnel is crucial for augmenting retention and optimizing job effectiveness. Although extrinsic motivators such as salary and incentives have historically been prioritized, recent studies underscore the increasing significance of intrinsic motivation, especially among Generation Y (Gen Y) employees. Intrinsic motivation originates from the inherent gratification of executing a task and encompasses aspects such as fervent involvement, pursuit of novelty, attainment of objectives, and pleasure derived from labor which leads to improved productivity. Gen Y, a substantial and swiftly expanding workforce, prioritizes meaningful employment, work–life equilibrium, and stimulating tasks more than preceding generations. This transition highlights the necessity for firms to prioritize intrinsic motivators to line with Gen Y’s tastes and enhance employee engagement. This research examines the influence of age, gender, and organizational tenure on the intrinsic motivation of Gen Y software professionals in India. Results witnessed high inclination of younger age group toward Intrinsic Motivation in comparison to previous generations. Inclination toward Intrinsic Motivation is equal irrespective of genders and employees with less organizational tenure prefer challenges and sense of choice. This exploration of predictors offers insights on cultivating a more motivated and productive workforce, while also addressing the drawbacks of over dependence on extrinsic motivators in contemporary organizational settings.