Work Values: Generation Y Expectations and HRM Implications (Study of an Indian Public Sector Non-Life Insurer)

Abstract

Work places these days are becoming age diverse. With the young generation entering the workforce, it becomes imperative to study and understand their expectations and mindsets so as to resolve and avoid any expectation gap which may arise in the future. A vast amount of research has already been undertaken on how the current Generation Y (Gen-Y) differs from the earlier generations. This study is an attempt to identify the work-value preferences of the Gen-Y working in the public sector. For this purpose, qualitative feedback of 57 Direct Recruit Administrative Officers of an Indian public sector non-life insurance company was analyzed, after they had completed one year of service with the organization. The purpose of this research is to help organizations understand the work values of the young generation now entering into various PSUs in order to enable organizations manage and retain the young workforce endowed with varied talents and their expectations.