GENERATIONS AND WORK RELATED FACTORS OF EXECUTIVES: EVIDENCE FROM FIVE LEADING COMMERCIAL BANKS IN SRI LANKA

Abstract

In the modern business environment, organizations have to accomplish their business activities in a more competitive way. One of the biggest challenges faced by the modern organizations is to retain satisfied and productive workforce over the other competitors in the market. In order to accomplish that it is essential to understand and cater to fulfill their needs, it is essential that employers pay attention to generational differences in the workplace. This study attempts to identify the generational difference between three generations and their behavior and desires in work related factors within the employment. The sample of the study consists of 108 employees in Managerial and line managerial level working in five commercial banks in Sri Lanka. The independent variable of the study is generations consisted of Baby Boomers, Generation X and Y. The dependent variable is the work related factors such as Teamwork, Career Development, Work Engagement and Job Security. To gather data a structured questionnaire was distributed among the respondents and data were analyzed by using descriptive statistical techniques and one-way Enova. The statistical results of the study showed that perceived expectation of job security among Baby Boomers is higher than employees belong to Generation X and Y but the perceived expectation of challenging jobs is higher among employees belong to Generation X and Y than Baby Boomers. Results showed that Gen Y was more engaged at work than Gen X. Gender also plays a major role in work related factors and the study analysis these factors in detailed.