Life Priorities and Work Preferences of Generation Y: An Exploratory Analysis in Indian Context

Abstract

The aim of the article is to study the influence of life priorities on work preferences in the context of Generation Y, the largest cohort of generation in India. It also attempts to uncover their preferences on both the parameters. The gender variations on the constructs have also been analyzed. Schwartz’s Value Inventory (1994) and Twenge, Campbell, Hoffman, and Lance’s motivational model (2010) are the instruments utilized for life priorities and work preferences. Respondents rank the life priorities and work preferences elicited through a survey questionnaire administered online from a convenience sample of Gen Y. Multiple regression analysis (stepwise) is used to find out the degree of influence of life priorities on work preferences. Independent t-test was conducted to measure the gender variations in life priorities and work preferences. Life priorities showed a link with one or more work preferences. More specifically, self-transcendence has been found to positively influence Gen Y preference for freedom at work. Openness to change explained significant amount of variance in extrinsic work motivation. Conservation and openness to change came out to be the most important life priority among Gen Y and were mostly motivated by altruistic and extrinsic rewards. Gen Y is increasing its presence at workplaces across the world and limited research has been done to study their motivations, needs, and expectations at work in Indian context. This study could help managers gain insightful information related to Gen Y life priorities and work preferences which could be harnessed to make effective strategies for their recruitment and retention.