Open AccessMOTIVATING EMPLOYEES OF DIFFERENT GENERATIONS
Author(s) -
Iryna Savelieva,
Yana Pokora
Publication year - 2021
Publication title -
rozvitok metodìv upravlìnnâ ta gospodarûvannâ na transportì
Language(s) - English
Resource type - Journals
eISSN - 2415-3893
pISSN - 2226-1915
DOI - 10.31375/2226-1915-2021-4-110-123
Subject(s) - incentive , productivity , workforce , population , production (economics) , population ageing , demographic economics , test (biology) , economics , business , economic growth , labour economics , demography , sociology , market economy , paleontology , biology , macroeconomics
This article focuses on the crucial problems of the XXI century: ageing population and difficulty for older workers to participate in high-tech production processes on one hand, and on the other ‒ entry of Generation Z, who has not experienced the world without constant deve-lopment of innovative technologies and networks, into the labor market. The proportion of elderly population is rapidly increasing in developed and many develo-ping countries. One of the consequences of population ageing in most societies is a decrease in the number of working and income-generating people compared to the number of unemployed and dependent on other’s income. The share of dependents is derived as the ratio of the number of people in the population who are considered financially dependent (usually children under the age of 15 and elderly over the age of 65) to the number of people considered economically active. Population aging may significantly inhibit economic growth if the slowdown of labor growth is not constrained or if no additional efforts are made to improve labor productivity. It is estimated that by 2030 Generation Z will account for 20-24% of the global workforce. Hence, it is necessary to understand differences in incentives for various age groups to recognize motivations of Generation Z and ensure maximum productivity of talented young people.This paper analyzes main classical motivators and identifies differences in how they are perceived by generations Y and Z. By using statistical methods of data evaluation (Student's t-test), specific motivators influencing productivity of employees of different age groups were determined. As per job and specialization search, both generations are primarily driven by material and financial incentives: specifically, monetary rewards and bonuses. However, for Generation Z, job satisfaction is also highly influenced by intangible factors and managerial style, such as achievements’ recognition, personal growth, clear description of tasks and responsibilities.Keywords: generation theory, generation Z, motivators, motivation mechanism.