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Abstract
Purpose This study investigated the career expectations and priorities of members of the "millennial" generation (born in or after 1980) and explored differences among this cohort related to demographic factors (i. e., gender, race, and year of study) and academic performance. Design/Methodology/Approach Data were obtained from a national survey of millennial undergraduate university students from across Canada (N = 23,413). Data were analyzed using various multivariate techniques to assess the impacts of demographic variables and academic achievement on career expectations and priorities. Findings Millennial placed the greatest importance on individualistic aspects of a job. They had realistic expectations of their first job and salary but were seeking rapid advancement and the development of new skills, while also ensuring a meaningful and satisfying life outside of work. Our results suggest that Millennials' expectations and values vary by gender, visible minority status, GPA, and year of study, but these variables explain only a small proportion of variance. Implications Changing North American demographics have created a crisis in organizations as they strive to recruit and retain the millennial generation, who purportedly hold values, attitudes, and expectations that are significantly different from those of the generations of workers that preceded them. A better understanding of the Millennials' career expectations and priorities helps employers to create job offerings and work environments that are more likely to engage and retain millennial workers. Originality/Value This is a large-sample study that provides benchmark results for the millennial generation, which can be compared to results from other generational cohorts, and to millennial cohorts in the future as they progress through their life-cycle. This is one of the few studies that examines demographic heterogeneity within the millennial cohort.
Journal Information
Journal of Business and Psychology is an international forum for the publication of empirical research, case studies, and literature reviews dealing with psychological concepts and services implemented in business settings. Written by psychologists, behavioral scientists, and organizational specialists employed in business, industry, and academia, peer-reviewed original articles deal with all aspects of psychology that apply to the business sector. Typical subject matters include, but are not limited to: Mentoring, Socialization, Coaching, Leadership Development, Counterproductive Behavior, Emotions at Work, Withdrawal, Cross-Cultural Issues, Groups, Inclusion, Diversity, Creativity, Job Analysis, Job Design, Job Attitudes, Job Performance, Citizenship Behavior, Judgment and Decision Making, Leadership, Employment Law, Measurement, Motivation, Occupational Health, Stress, Organizational Culture, Climate, Organizational Justice, Organizational Performance, OD, Performance Appraisal, Feedback, Research Methodology, Staffing and Selection, Strategic HR, Training, Work and Family.
Publisher Information
Springer is one of the leading international scientific publishing companies, publishing over 1,200 journals and more than 3,000 new books annually, covering a wide range of subjects including biomedicine and the life sciences, clinical medicine, physics, engineering, mathematics, computer sciences, and economics.
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For the first time in history, there are five generations in the workplace. They are:
- Traditionalists—born 1925 to 1945
- Baby Boomers—born 1946 to 1964
- Generation X—born 1965 to 1980
- Millennials—born 1981 to 2000
- Generation Z—born 2001 to 2020
What kinds of challenges does this present for today’s employers? How do generational workforce differences affect our ability to manage people effectively? And what are the traits, beliefs, and life experiences that mark each generation, influencing how they work, communicate, and respond to change?
That’s precisely what this infographic is about. We spoke with Dr. Bea Bourne, DM, faculty member in the School of Business and Information Technology at Purdue University Global. Dr. Bourne is an expert on generational differences and generational response to organizational change. In this infographic, she shares her research regarding:
- How today’s talent stacks up by generation, including their defining values, beliefs, and worldviews
- The significant historical events that shaped each generation
- How to best motivate and manage workers from each generation
With this information, managers and HR executives can develop multigenerational strategies in recruitment, orientation, talent management, retention, and succession planning.
Learn how to manage different generations at work.
Generational Differences in the Workplace Content
One size doesn’t fit all when it comes to today’s workforce—five generations of workers means five approaches to work. Learn how to adjust to a multigenerational workforce.
- Traditionalists: 2% (1925-1945)
- Baby Boomers: 25% (1946-1964)
- Generation X: 33% (1965-1980)
- Generation Y: 35% (1981-2000)
- Generation Z: 5% (2001-2020)
Traditionalists
Born 1925–1945
Dependable, straightforward, tactful, loyal
Shaped by: The Great Depression, World War II, radio and movies
Motivated by: Respect, recognition, providing long-term value to the company
Communication style: Personal touch, handwritten notes instead of email
Worldview: Obedience over individualism; age equals seniority; advancing through the hierarchy
Employers should: Provide satisfying work and opportunities to contribute; emphasize stability
Baby Boomers
Born 1946–1964
Optimistic, competitive, workaholic, team-oriented
Shaped by: The Vietnam War, civil rights movement, Watergate
Motivated by: Company loyalty, teamwork, duty
Communication style: Whatever is most efficient, including phone calls and face to face
Worldview: Achievement comes after paying one’s dues; sacrifice for success
Employers should: Provide them with specific goals and deadlines; put them in mentor roles; offer coaching-style feedback
Stats:
- (5) 65% of baby boomers plan to work past age 65
- (6) 10,000 baby boomers reach retirement age every day
Generation X
Born 1965–1980
Flexible, informal, skeptical, independent
Shaped by: The AIDs epidemic, the fall of the Berlin Wall, the dot-com boom
Motivated by: Diversity, work-life balance, their personal-professional interests rather than the company's interests
Communication style: Whatever is most efficient, including phone calls and face to face
Worldview: Favoring diversity; quick to move on if their employer fails to meet their needs; resistant to change at work if it affects their personal lives
Employers should: Give them immediate feedback; provide flexible work arrangements and work-life balance; extend opportunities for personal development
Stats:
- (7) Gen Xers make up the highest percentage of startup founders at 55%
- (8) Gen Xers will outnumber baby boomers by 2028
Millennials
Born 1981–2000
Competitive, civic-minded, open-minded on diversity, achievement-oriented
Shaped by: Columbine, 9/11, the internet
Motivated by: Responsibility, the quality of their manager, unique work experiences
Communication style: IMs, texts, and email
Worldview: Seeking challenge, growth, and development; a fun work life and work-life balance; likely to leave an organization if they don't like change
Employers should: Get to know them personally; manage by results; be flexible on their schedule and work assignments; provide immediate feedback
Stats:
- (9) By 2025, millennials will comprise 75% of the global workforce
- (10) About 15% of millennials age 25–35 live at home with their parents
Generation Z
Born 2001–2020
Global, entrepreneurial, progressive, less focused
Shaped by: Life after 9/11, the Great Recession, access to technology from a young age
Motivated by: Diversity, personalization, individuality, creativity
Communication style: IMs, texts, social media
Worldview: Self-identifying as digital device addicts; valuing independence and individuality; preferring to work with millennial managers, innovative coworkers, and new technologies
Employers should: Offer opportunities to work on multiple projects at the same time; provide work-life balance; allow them to be self-directed and independent
Stats:
- (11) 40% of Gen Z wants to interact with their boss daily or several times each day
- (12) 84% of Gen Z expects their employer to provide formal training
References:
- Bea Bourne, “Phenomenological Study of Generational Response to Organizational Change” (doctoral dissertation, University of Phoenix, 2009).
- “Labor Force Composition by Generation” infographic, Pew Research Center.
- “9 Baby-Boomer Statistics That Will Blow You Away,” The Motley Fool.
- “Baby Boomers Retire,” Pew Research Center.
- “Different Motivations for Different Generations of Workers: Boomers, Gen X, Millennials, and Gen Z,” Inc.
- “Millennials projected to overtake Baby Boomers as America’s largest generation,” Pew Research Center.
- “Big demands and high expectations: The Deloitte millennial survey,” Deloitte.
- “It’s becoming more common for young adults to live at home – and for longer stretches,” Pew Research Center.
- “How to Easily Engage Gen Z Employees in the Workplace,” The Center for Generational Kinetics.
- “Accenture Strategy: Gen Z Rising,” Accenture Strategy.