Workplace Expectations Versus Reality: Are Millennials So Different?
For a growing number of employers, understanding the needs and expectations of employees, especially those of Millennial generation, is crucial. The purpose of this research is to determine the gap between expectations and reality in the Latvian job marke
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Abstract For a growing number of employers, understanding the needs and expectations of employees, especially those of Millennial generation, is crucial. The purpose of this research is to determine the gap between expectations and reality in the Latvian job market with a major focus on generational differences and Millennials. The quantitative study is based on empirical data gathered by an online survey (n ¼ 2010). A structured questionnaire measures the differences between expectations and reality in respect to five aspects of the work environment (work–life balance, job meaningfulness, salary and transparency of remuneration system, career and growth possibilities, and relationship with colleagues and management). The results highlight significant differences between workplace expectations and reality. In relationship to all examined aspects gaps between expectations and reality for Millennial generation, employees, however, are much smaller than for other generations leading to the conclusion that Millennials more often get what they want. The managerial implications for employers are related to ensuring transparency of HR systems—remuneration, career growth, and improving work–life balance. Keywords Labor market · Employee expectations · Generations · Millennials · Latvia
1 Introduction Today’s conditions in the workplace are frequently characterized as the worst for the economy since the Great Depression and the hunt for a job becomes extremely difficult for candidates, as well as employers complain that it is impossible to find suitable employees. Companies are having difficulties in attracting new employees, who are ready to stay with the company for a long time; therefore, they experience I. Ludviga (*) Business Department, RISEBA University of business, Arts and Technology, Riga, Latvia e-mail: [email protected] © The Editor(s) (if applicable) and The Author(s), under exclusive licence to Springer Nature Switzerland AG 2020 M. H. Bilgin et al. (eds.), Eurasian Business Perspectives, Eurasian Studies in Business and Economics 14/2, https://doi.org/10.1007/978-3-030-52294-0_3
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costly recruitment and increasing average cost per employee. From the candidate perspective, the problem is that they are not able to find a position that fits their desires. Talent acquisition and new Millennial generation for organizations is one of the main challenges of the future (Deloitte 2017). Currently, the labor market is dominated by three generations of employees— Baby Boomers, Generation X, and Millennials (Milligan 2014; Beaman 2012). Research shows that generations have different characteristics which do not simply relate to their stage in life (CIPD 2008). Part of employees called “Millennials” have been very often discussed topic in the last couple of years, especially after Gallup (2016) analytics has paid extra attention to youth at work market. Just the fact that Millennials are the least engaged generation shows the relevance of the statement that expectations of employers and employees do no
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