Generation Y: Incentive and Reward Schemes

<p>Due to the constant changes in workforce and generational composition, employee retention and recruitment has been a major problem. Currently there are three generations working side by side in the workforce namely; the Baby Boomer Generation, Generation X and Generation Y. This research has focused on the most effective ways in which to motivate, attract and retain employees, in particular Generation Y employees. This is important as an employee’s motivation and performance has an impact on the company’s success. Different generational members have different generational characteristics as well as individual differences and failure by mangers to understand the generational and individual differences can result in misunderstandings, miscommunication, conflict and performance issues. By providing managers with the necessary knowledge to understand employees, effective incentive and reward schemes can be designed and implemented. Using Vroom’s Expectancy Theory framework, this study examines Generation Y and X employees in New Zealand accounting and commerce industries in order to understand their preferences, feelings and opinions on the matter of motivation, employee retention and attraction, as well as their perceived generational characteristics. A focus group method was used in order to gather the necessary data. The results illustrate that the characteristics of Generation Y participants did not agree with most of the existing literature on what types of incentive schemes are most effective for these employees, while also pointing out that these employees are also driven by cultural and individual differences. As this study was industry and generational specific, it allowed the gathering of in-depth information, opinions and feelings that contributes to existing literature as well as being the first of its kind due to being executed in New Zealand.</p>

Generation Y: Incentive and Reward Schemes

<p>Due to the constant changes in workforce and generational composition, employee retention and recruitment has been a major problem. Currently there are three generations working side by side in the workforce namely; the Baby Boomer Generation, Generation X and Generation Y. This research has focused on the most effective ways in which to motivate, attract and retain employees, in particular Generation Y employees. This is important as an employee’s motivation and performance has an impact on the company’s success. Different generational members have different generational characteristics as well as individual differences and failure by mangers to understand the generational and individual differences can result in misunderstandings, miscommunication, conflict and performance issues. By providing managers with the necessary knowledge to understand employees, effective incentive and reward schemes can be designed and implemented. Using Vroom’s Expectancy Theory framework, this study examines Generation Y and X employees in New Zealand accounting and commerce industries in order to understand their preferences, feelings and opinions on the matter of motivation, employee retention and attraction, as well as their perceived generational characteristics. A focus group method was used in order to gather the necessary data. The results illustrate that the characteristics of Generation Y participants did not agree with most of the existing literature on what types of incentive schemes are most effective for these employees, while also pointing out that these employees are also driven by cultural and individual differences. As this study was industry and generational specific, it allowed the gathering of in-depth information, opinions and feelings that contributes to existing literature as well as being the first of its kind due to being executed in New Zealand.</p>

An exploration into Gen Ys attitudes and behaviour towards volunteering whilst backpacking

This study focuses on Generation Ys’ attitudes and behaviour towards engaging in volunteer tourism whilst backpacking. To that end, we first examine Gen Ys’ generational characteristics and the predominant attitudes and behaviours displayed by this generational cohort. Then the focus is shifted to understanding Generation Y as backpackers and their internal and external motivations. These motivations are queried under the prism of volunteer tourism; being seen as factors determining the level of engagement with volunteer tourism and overall backpacking behaviour while travelling. This chapter provides insights into the themes described above by examining the relevant tourism literature. Finally, it summarises the theoretical gaps in the extant literature and sets objectives for future research, whilst signposting authors to key literature sources.

ROPO and Reverse ROPO Effect in Gender-Generation Characteristics

Objective - The primary goal of the paper is to identify which purchasing channels (online or offline), Slovak consumers use to search for, research and purchase products as well as to evaluate the association between the selected elements of the purchasing process with respect to gender and generational characteristics of customers. Findings - This paper proves the existence of a significant association between the place customers search for information about products (on the Internet or in brick-and-mortar stores) and the place where they make the actual purchase. The paper also reveals that in terms of the common gender and generation characteristics and the overall purchasing process there is a significant association in most of the analyzed cases. Novelty - Although online shopping is considered convenient, cheaper and more time-efficient than shopping in brick-and-mortar stores, consumer behavior in the e-commerce sector may differ in terms of gender and generational characteristics. It is therefore important for marketers to know this behavior and tailor their business strategies to specific customer segments. Type of Paper: Empirical. JEL Classification: M31, M37. Keywords: Customer Behaviour; ROPO; Purchase Channel; Association Analysis; Gender; Generation Reference to this paper should be made as follows: Fedorko, R; Bačík, R; Rigelský, M; Oleárová, M. (2021). ROPO and Reverse ROPO Effect in Gender-Generation Characteristics, Journal of Management and Marketing Review, 6(1) 24 – 35. https://doi.org/10.35609/jmmr.2021.6.1(3)

MANAGING THE BANK'S STAFF TURNOVER TAKING INTO ACCOUNT BEHAVIORAL CHARACTERISTICS

This study focuses on the problem of employee turnover in the banking sector. The reasons for staff turnover are analyzed, the main attention is paid to the specifics of the labor behavior of employees of different generations. The purpose of this study is to identify the features of the Bank's personnel turnover management, taking into account generational characteristics. In accordance with the purpose of the work, the following tasks were set: to consider expert assessments of the problem of staff turnover in banks, to analyze generational differences, to conduct a study of the personnel structure in the operating offices of VTB Bank and to identify problems and features of the Bank's staff turnover management. As a result of the study the need to build the work of all elements of personnel management, taking into account generational characteristics, the balance of digitalization and personal communications, was revealed in order to increase the involvement of employees in achieving the goals of the organization.

The unfulfilled. After youth

The article analyzes prose works by Russian twenty- and thirty-year-old authors who emerged in the early 2000s and gradually fell into obscurity right after their initial success. Sekretov’s article discusses A. Babchenko, I. Denezhkina, A. Karasyov, and others. All of their works share numerous distinctive traits, such as a predisposition to uncensored autobiographical narration, full identification of the author with the protagonist, and preoccupation with challenges faced by young adults and the force of rebellion, which, however, boils down to the axiomatic teen defiance. As a result, the young authors-cum-protagonists lose their swagger upon the first breakthrough, with their subsequent career grinding to a halt after the highest but single achievement. Therefore, in his analysis of the novels, interviews and critical reviews dedicated to the books by I. Denezhkina, A. Karasyov, I. Mamaeva and others, Sekretov identifies the generational characteristics of early 2000s literature and tracks the authors’ subsequent progress, seeking the reasons for so many failures.

The generation game: Governing through bio-politics

An increasingly popular management tool is to stratify a workforce along generational lines, to distinguish its qualities and differentiate orientations to work. From this, a range of organisational practices, ranging from leadership styles to reward systems are tailored to fit specific generational characteristics. We term this practice ‘management-by-generation’ and examine how it has the potential to govern as a bio-political technology. The article develops nascent work within organisation studies on governmentality and bio-politics to demonstrate the powerful potential of management-by-generation to govern in contemporary organisations. In line with other Foucauldian studies on ageing, it also contributes to the research on generations in demonstrating how a bio-political construction of generation allows management-by-generation to govern effectively, while more sociologically informed conceptualisations of generation could be a source of contestation to this emerging technology.