The generational effect on pharmacists' labour supply

Abstract

Objectives The purpose of this article was to explore the extent to which generational differences mediate pharmacists' labour supply functions, focusing on the conditions under which they provide professional services. Methods Three age groups were identified: younger than 40 years of age, 40–54 years old and 55 years or older. Identical labour supply functions were formulated and estimated, using ordinary least squares, for pharmacists in the three groups depicting the number of hours worked per week as a function of their wage rate, human capital stock and job-related preferences. The data were obtained by surveying registered pharmacists in South Florida. Key findings Results indicated that as pharmacists approached retirement, their labour supply behaviour was conditioned more by institutional factors than by pay. The presence of children and the perception of stress exerted a stronger influence on the amount of labour supplied by younger than older pharmacists. Conversely, the effect of experience, gender, administrative role and perception of autonomy was stronger for older than for younger pharmacists. Conclusions These disparities may be useful to healthcare managers and policymakers as a means of understanding pharmacists' expectations and motives across generations while facilitating communication, promoting teamwork and setting up productivity goals.