THE IMPACT OF GENERATIONAL DIFFERENCES ON WORK RELATED FACTORS IN LEADING COMMERCIAL BANKS IN SRI LANKA.

Abstract

In the modem business environment organizations have to accomplish their business activities inmore competitive way. One of the biggest challenges faced by the modem organizations is toretain satisfied and productive workforce over the other competitors in the market. In order toaccomplish that it is essential to understand and cater to fulfill their needs, it is essential thatemployers pay attention to generational differences in the workplace. This study attempts toidentify the generational difference between three generations and their behaviour and desires inwork related factors within the employment.The sample of the study consists of 108 employees in Managerial and line managerial levelworking in five commercial banks in Sri Lanka. The independent variable of the study isgenerations consisted of Baby Boomers, Generation X and Y. The dependent variable is thework related factors such as Team work. Career Development, Work Engagement and JobSecurity. To gather data a structured questionnaire was distributed among the respondents anddata were analyzed by using descriptive statistical techniques and one-way Anova.The statistical results of the study showed that perceived expectation of job security among BabyBoomers is higher than employees belong to Generation X and Y but the perceived expectationof challenging jobs is higher among employees belong to Generation X and Y than BabyBoomers. Results showed that Gen Y wa more engaged at work than Gen X. Gender also playsa major role in work related factors and the study analysis these factors in detailed.Limited background information on Sri Lankan researches in generational analysis, the currentstudy may be considered as one of the new attempts to study generational behaviours in workrelated beliefs. Future studies are expected to conduct similar exploration about thecomprehensive knowledge and understanding of the generations and their work related beliefs inother enterprises within Sri Lanka. The present study contributes to the body of knowledge ofthe generational differences in a workplace by providing novel approach to understand differentgenerations inside out.