Generational differences in the Banking sector : a study on how work values and co-operation are perceived between generations

Abstract

Today's working life experiences many challenges, one of them is the lengthening of working careers. Many modern workplaces can contain many generations at the same time. Various theories have underlined, that shared experiences forms a generation, and therefore within a generation, they can have shared values. This thesis covers Baby boomer, Generation X, Millennials and Generation Z, as they are the generation that occupies the working population today. Generation Z and millennials value flexibility and feedback and baby boomers take work seriously, for example. The purpose of this thesis is to investigate what are the differences in work values between generations and how is the co-operation perceived between generation in the banking sector in Finland. A qualitative method was applied to answer the research questions 1) What are the differences in work values between generations and 2) how is the co-operation perceived between generations. Data was collected with the help of in-depth semi-structured interviews. The result showed that there are some similarities but a few differences as well between the older generation and the younger generation. All generations valued flexibility at work, functioning and a fun work community. The younger generation valued achievement and development opportunities, while the older generation did not. Age-diverse work community was seen as a richness, the older generations valued helping the younger generation and the younger generation enjoyed receiving help from the older generation. The younger ones felt the older generations are too devoted to their work, and the younger generation are too brave and selfish.