Difference of Work Related Behaviors between Generation X and Generation Y: A Study of Professionals in one of the Leading Development Banks in Sri Lanka

Abstract

Managing a multi-generation workforce today is becoming endlessly challenging, basically due to their different work related behaviors. In the recent literature, it is reported that further investigations are required for three work related behaviors of generations; work engagement, career development and teamwork, in banks, especially in developing countries. As a leading development bank in Sri Lanka, XYZ is unique in its multi-generation workforce consist of 2347 permanent employees as at 31st July 2019 across the county. In the context a gap is identified for such a study among two major generations; Gen X and Gen Y. Hence, bridging the gap in the context, and adding further evidence to the extant literature, this study was carried out as a cross-sectional, quantitative, field study among a sample of 350 Gen X and Gen Y professionals, randomly selected from XYZ Bank. Primary data were collected based on a standard measurement scale, through an offline questionnaire survey. Descriptive statistics and the Independent Sample t-test were used to analyze data and coming to conclusions with the aid of SPSS software. There is no significant difference found among Gen X and Gen Y professionals at XYZ Bank in terms of those three work related behaviors; work engagement, career development and teamwork. Further, the importance of a strong corporate culture is emphasized in which generational differences are neutralized up to a significant extent. So, it is recommended that the XYZ Bank does customize its people management policies and practices based on the need and the dynamics of its corporate culture.