Generational differences in extrinsic and intrinsic international work values between Generation X and Millennials: the case of Greece

Abstract

This thesis investigates the impact of intrinsic and extrinsic work values for Generation X and Millennial students at a Hellenic University. Six work facets were selected for this study in order to examine the accuracy of popular characteristics associated with the two cohorts. Using Herzberg’s two-factor theory; pay, supervision, work/life balance and feedback were classified as extrinsic; work itself and promotion were classified as intrinsic. At first, generations were examined separately in order to observe how each cohort ranked every facet in the aspect of their ideal job, with an ultimate goal to see which factor they valued the most was. Our next step was the comparison of these results in order to ascertain if generational differences were indeed manifested. A combination of items from the Lyons Work Value Survey (LWVS) and Elizur’s was specially chosen so that they represent only the under-investigation facets. T-tests and Crosstabulation techniques were used to determine the differences in work values between the two cohorts. The findings of this study indicated that there are no generational differences between the extrinsic and intrinsic work values and their facets, opposing to international findings. Generally, they ranked each facet in the same order, expect for pay and work/life balance; with Xers showing that they valued each of them more than Millennials did, except for pay. Moreover, Millennials were the one that valued more the extrinsic factor and Generation X the intrinsic, but in their in-between comparison, the results showed that Generation X found both factors more important than the younger generation. At last, the line of distinction on the existence of generational differences between the two generations was not clearly drawn for any factor or facet.