Work values for generations Y and Z stricto sensu accounting students

Valores do trabalho para estudantes de stricto sensu em contabilidade das gerações Y e Z

Valores del trabajo para estudiantes de stricto sensu en contabilidad de las generaciones Y y Z

Rayane Camila da Silva Sousa rayanecamila.pi@gmail.com

State University of Paraná (UNESPAR), Brasil

Romualdo Douglas Colauto rdcolauto.ufpr@gmail.com

Federal University of Paraná (UFPR), Brasil

Esta obra está bajo una Licencia Creative Commons Atribución-NoComercial 4.0 Internacional.

Studies on generations are being increasingly discussed in both academics and job market. That is because empirical findings (Smola & Sutton, 2002; Cennamo & Gardner, 2008; Twenge, Campbell, Hoffman & Lance, 2010) revealed differences in the way generations relate at work and the way they build their values. With time Roe and Ester (1999); Porto and Tamayo (2003); Porto and Pilati (2010) focused their research to work-related values due to their importance not only as income source for survival but also as a prime element in personality development and foundation for social participation.

Work-related values are defined as the principles and convictions that unveil preferences and aspects people regard for at work (Dose, 1997; Ros, Schwartz & Surkiss, 1999). They guide behavior and attitude at labor environment (Dose, 1997) and professional life in terms of occupation or work decisions even before one perform a professional function (Moreno & Marcaccio, 2014). So, work values are present before the individual is inserted into job market and they are associated to the evaluation of abilities, preferences, and needs (Moreno & Marcaccio, 2014).

Generally, studies relate work values to Schwartz's Theory of Personal Values (1992). Ros et al. (1999) were the first ones to investigate such relation in an attempt to check for the nature of work values. Those authors show that, as to personal values, work values are beliefs regarding things desirable at workplace (high wage, working with people, power) arranged in an importance scale to guide individuals in their choices.

Studies imply that generations can be set according to their values at workplace. In the United States and New Zealand work values among generations were subject of investigation (Smola & Sutton, 2002; Cennamo & Gardner, 2008; Twenge et al., 2010), finding out significant differences among sample generations and their work values. Generation X individuals have expectations about being promoted at shorter times; the ones from Generation Y give higher value to aspects related to freedom (Cennamo & Gardner, 2008). To Twenge et al. (2010) values related to status and money are relevant to Generation X and even more important to Generation Y; Generation Y has lower altruistic work values (help, social value) than other generations.

Generation X covers people born from 1965 through 1978 and Generation Y covers the ones born from 1979 through 1992 (Cennamo & Gardner, 2008; Twenge et al., 2010; Becton, Walker & Jones-Farmer, 2014; Comazzetto, Perrone, Vasconcellos & Gonçalves, 2016). Besides those ones, a new generation so called Generation Z entered companies with different perspectives and searching for a pleasing, significant work culture. The generation covering people born from 1993 on craves for similar things as Generation Y but in a broader way (Ozkan & Solmaz, 2015). For Twenge and Campbell (2008) with new generations in corporate environment companies must have workers with higher expectations, craving for positive feedbacks, and demanding as to creativity.

Delloite (2019) performed a research with 13,416 youngsters from Generation Y and 3,009 from Generation Z, from several countries, revealing that both generations mentioned supporting organizations lined up to their values and not hesitating in breaking bonds with companies that adopt negotiation practices, values, and politics that diverge from their beliefs. Delloite (2019) report found that Generations Y and Z have been under anxiety and pessimistic feelings about their careers and personal lives. Respondents’ priorities are: traveling and knowing the world (57%); high wages and wealthy (52%); causing a positive impact on society (46%); and having family and children (39%).

Smola and Sutton (2002) stated that values on workplace can affect organizations and configure an important matter that can be discussed. So, the present study aims at addressing the following question: Which work values are significant to Generations Y and Z Stricto Sensu Accounting students? In this way, the goal of the present study aims at analyzing work values grated as significant for Generations Y and Z Stricto Sensu Accounting students.

Any study checking work-related values from Generations Y and Z were found in Brazil. It is important that organizations and educational institutions put some effort on knowing these generations needs in order to get them better suited to workplace. In Accounting field, for example, there is a lack of professionals with certain qualification required by market, bringing higher competition among newly graduates and recruiters. It seems there is a preference for accountants from Generations Y and Z which, in turn, get more options in their careers (Lindquist, 2008).

In this way, studies on work values allow being aware of what people take as important; they aim at, specifically, understanding the principles guiding them and the reasons they work for (Cammarosano, Santos & Rojas, 2014). Knowing these values bring several contributions. Firstly, it allows managers to identify their employees’ work targets that can help developing organizational strategies and promoting individuals’ satisfaction as well as helping on organization performance and results since workers feel good and motivated to work (Porto & Tamayo, 2008).

Second, at academy, mapping work-related values helps teachers and educational managers reinterpreting curricular proposals to address these generations needs and rising students’ enthusiasm (Santos Neto & Franco, 2010; Maloni, Hiatt & Campbell, 2019). In addition, the study has great potential to show a hierarchy of values taken as preponderant to the career of professionals from Generations Y and Z in stricto sensu.

Finally, it is important to highlight that knowing work-related values can help not only managers and teachers but also the individual himself, to understand his professional expectations. Studies on work values among generations becomes relevant and contemporary due to behavioral aspects of workplace such as depression, anxiety, resilience, career projection, and satisfaction, aspects that several times are left aside during professional formation, even knowing that such behavioral aspects substantially interfere with individuals’ lives as a person.

Values relate to conceptions, beliefs, or goals transcending specific situations, arranged according to importance, and applied as normative standards guiding individuals’ behavior and their choices (Schwartz, 1999). They are used to explain changes in society, to analyze behaviors, and to feature groups. So, every individual is made out by an ample, inclusive structure of values linked to fundamental life aspects that have a significant motivational role (Porto & Tamayo, 2003). However, not only people have values, but they are also found in collective scope, that means, people belonging to a given group, geographic area, community, or culture (Roe & Ester, 1999).

In literature, an individuals’ set of values is arranged into two levels: general and specific. General level corresponds to every aspect of life, configurating broader and more abstract values. In specific level values relate to a particular context of a person’s life, such as Family, politics, religion, and work. Among research developed at specific context the issue ‘work’ is highlighted (Roe & Ester, 1999; Porto & Tamayo, 2003; Porto & Pilati, 2010) due to its relevance, the time people dedicate to it, and the impacts it plays on the individual`s personal life and well-being (Elizur & Sagie, 1999; Porto & Tamayo, 2008).

There are many definitions of work-related values but all of them focus on people’s priority or desire regarding work. Some of them explore one or more topics on values, such as cognitive and motivational dimensions, the arrangement of values and goals as to occupation. Ros et al. (1999) express that work values are conceptions related to desired goals or behaviors at workplace. These goals are arranged according to their importance, like principles guiding a person when evaluating and choosing at work context. Roe e Ester (1999) state values do not induct individuals in a direct way but indirectly they do it by means of attitudes and targets. This way, labor values are taken as a source of motivation for individual performance, and in social aspect they play indirect influence, set rules and shared goals that guide collective actions.

Porto and Tamayo (2003) conceptualized work values as principles or beliefs on desires to be reached by means of working, arranged according to their importance, that guide perceptions, behaviors, and choices of people at work context. According to the authors to build up such concept it is needed to take three important aspects into account: (i) cognitive – referring to convictions regarding what is or is not desired at work; (ii) motivational – showing peoples’ wishes at workplace; and (iii) hierarchy – comprising arranging values according to their importance degree.

In addition, Ros et al., (1999, p.54) stated work-related values are “specific expressions of personal values at workplace”. In that context some studies (Ros et al., 1999; Borges, 1999; Porto e Tamayo, 2003) tried to link work values to Schwartz’s Theory of Personal Values proposed in 1992. Schwartz’s Theory (1992) states that values represent the answers people should give as conscious intentions for three universal requirements: (1) personal needs of biological essence; (2) social coordination; and (3) relationships for a good group living. Those three requirements gave rise to a structure made out of ten motivational values: power, achievement, hedonism, stimulation, self-determinism, universalism, benevolence, tradition, compliance, and security. They all represent a goal or motivation and manifest individual, group, or both interests (Schwartz, 1992). Complimentarily, Schwartz’s (1992) ten types of motivational values can be grouped into four dimensions of superior order: (1) Self-transcendency, assembling motivational types Universalism and Benevolence; (2) Self-promotion, composed by Power and Achievement; (3) Opening to change, assembling Hedonism, Stimulation, and Self-determinism; and (4) Conservation, which is formed by Tradition, Security, and Compliance (Schwartz, 1992; Porto & Tamayo, 2003;2008).

In this way, it is speculated that work-related values are manifestations of personal values at workplace so that the four superior order dimensions proposed by Schwartz’s Theory (1992) can be seen when analyzing work-related values (Porto & Tamayo, 2003). In Brazilian context, aiming at checking the link of work values to Schwartz’s Theory (1992), Porto and Pilati (2010) developed and applied the Reviewed Scale for Work-Related Values (EVT-R) to 412 employees from both public and cooperative organizations. Results showed that values are arranged similarly to motivational types, confirming the support to Schwartz’s Theory (1992). So, the present study is based on Schwartz’ theoretical strand (1992) since it presents a recurring model on values that served as basis for the buildup of instruments that better represented work-related values.

The effort for researching work-related values to the detriment of other aspects of life (family, politics, religion) can be assigned to the fundamental role work exerts on peoples’ lives, not only for survival but as an important aspect for social insertion, life quality, and personal and professional well-being, too (Roe & Ester, 1999). In addition to this, work values have been discussed as variables influencing people management and behavior in organizations (Cammarosano et al., 2014; Waal, Peters & Broekhuizen 2017).

In organizations, attitudes, performance at workplace, and the way workers relate to each other are influenced by their values, principles, and the way they think, which several times is similar to people from the same generation (Comazzetto, Perrone, Vasconcellos & Gonçalves, 2016). Considered as a demographic factor, generations can also influence work context (Cordeiro, 2012). Several generations interacting in the same workplace can bring advantages due to the diversity of ideas, inclusion, and learning from people with different points of view. On the other hand, it can trigger disagreements, confrontations, and oppositions due to the way each generation relates to historical context and political and social scenarios.

Generations Y and Z, focus of the present study, experienced subtle ruptures in the way they perceive the world. Their values and personalities are being molded differently from previous generations that based on family, religion, school, and TV (Santos Neto & Franco, 2010). Those generations value perceptive processes through visual language and oral practice, now permeated by globalization and consumption dynamics (Grubb, 2016). As well, technological process and the volume of information in an instant and daily way, make it hard to select what is meaningful for character and identity formation (Santos Neto & Franco, 2010). Besides those factors, the role of parents, friends, social media, and popular culture also influenced the set of values, goals, and generation identity feeling that those people probably formed and will form Twenge & Campbell, 2008; Hajdu & Sik, 2018).

Twenge e Campbell (2008) report Generation Y has great expectations mainly due to the high self-esteem and exacerbated narcissism. That generation was raised with technology and due to that their nickname is “digital native” (Grubb, 2016). At workplace, they are confident, looking for an interesting occupation, are less motivated by power, wish for immediate feedback, try to establish contacts, like working in teams, and value safety and stability at work (Kowske, Rasch & Wiley, 2010; Waal et al. 2017). Besides that, Generation Y demands meaning, guidance, and meritocracy regarding the tasks given to them at work (Grubb, 2016, Maloni et al., 2019).

Generation Z is regarded as an extension of Generation Y (Santos Neto & Franco, 2010; Ozkan & Solmaz, 2015; Grubb, 2016). This is because their features are similar but amplificated as to Generation Y, such as for example the use of social media and the preference for working in teams (Ozkan & Solmaz, 2015; Grubb, 2016). In addition to this Generation Z worries about sociability and communication at work, they look for Independence and refuse authority, they believe work has as important role for accomplishing their dreams, and they consider happiness and achievement aspects very important at work (Ozkan & Solmaz, 2015, Maloni et al., 2019).

In this context consultant Millennial Branding (2014) performed a study investigating motivations of both Generations Y and Z at workplace. 1,005 youngsters from ten different countries were interviewed and the results showed generation Z gets more motivation from promotion opportunities (34%), followed by money (27%), and significant work (23%); generation Y gets motivation mainly for more money (38%), promotion opportunities (30%), and significant work (15%). Another study, performed by Global Shapers Community (2017), interviewed over 30,000 people ranging from 18 to 35 years old, from 186 countries, revealed that three most important aspects for these youngsters are: financial wage; sense of purpose/social impact; and career progress.

Regarding generation differences and work-related values Smola and Sutton (2002) investigated differences among generations from work values and beliefs. More than 350npeople living in the United States took part in the research and the data obtained were compared to a similar study performed in 1974. Results revealed the desire of American worker for finding balance between personal and professional life. Besides that, the study found that there are decreases in work centrality and ethics, comparing to samples from 1974 and 1999, as well as work values change as workers grow older.

Cennamo and Gardner (2008) tried to analyze differences among Baby Boomers, Generation X, and Generation Y as to work values, satisfaction, commitment, and turnover. The study enclosed 504 employees from one organization and one of the results was that Generation Y gives higher importance to values such as status, freedom, and social involvement when compared to Baby Boomers. In this same direction, the study of Twenge et al. (2010) investigated differences among Baby Boomers, Generation X, and Generation Y as to work-related values. The study included 507 high school students in the United States, in 1976, 1991, and 2006, encompassing the three generations. Results show that Generation Y gives more value to extrinsic rewards, such as money and status, than Generation X and Baby Boomers.

Contrary to these results Kowske et al., (2010) empirical study with a miscellaneous sample of Baby Boomers, X, and Y generations suggests generations are more similar than different, and the existing differences are inconsistent and tend to contradict generational stereotypes. One of the significant differences reported in the study was that Generation Y is more satisfied with the opportunity of getting a job and progressing in career in the organization when compared to previous generations.

Maloni et al. (2019) investigated Generations Y and Z students, teachers, and business recruiters aiming at checking the values those students desired and their comprehension by part of the teachers and business recruiters. Results reported Generations Y and Z are similar to each other as to their work values and the fact that students are highly focused on financial stability. Besides that, results showed teachers and business recruiters do not know work values regarded by students from these generations.

Such dissonant findings suggest that there is need for more empirical research among generations. According to Forbes (2019b) magazine Generation Y shows the highest education level and composes the gross of labor force nowadays. In addition, Generation Z, yet poorly explored in researches, is entering work market and is going to be well represented in the next years (Ozkan & Solmaz, 2015; Forbes, 2019a; Maloni et al., 2019). Thus, these generations require studies that look for knowing and understanding their features and preferences at workplace.

The present study is a descriptive, quantitative-nature one. The population was composed by Accounting stricto sensu students regularly enrolled in one of the Post-Graduation programs linked to Accounting area in 2019. To check programs linked to Accounting area a search on the Coordination for Improvement of Higher-Level Personnel (CAPES) that provides four-yearly evaluations of all stricto sensu post-graduation courses recommended by that department was performed.

Data provided by CAPES show that Accounting area is composed of 14 Academic Mastership programs, 15 Mastership and Academic Doctorate programs, and 5 Professional Mastership programs. Identification of Accounting stricto sensu Post-graduation programs allowed communicating and promoting the research at courses coordination tables. Also, according to data provided on CAPES website (2019), the 34 stricto sensu Accounting area courses had 1,696 students regularly enrolled in 2019.

In this study, people born from 1979 to 1992 were classified as Generation Y and those born from 1993 on were classified as Generation Z. that cut-off period for ranking generations is the same used by Santos Neto and Franco (2010). This study was chosen because it is essentially Brazilian and because it considers historical, political, and social elements in the constitution of generations.

Data collect was performed by on-line electronic instrument on SurveyMonkey®. Firstly, the research was e-mailed to the Coordination Department of post-graduation programs so they could promote it among students enrolled in 2019, then CAPES website was surfed to collect the e-mail addresses of the students enrolled in Accounting Post-graduation courses. After collecting e-mail addresses the research was sent directly to students. Besides that, a 15 second video was produced for promoting and potentiating the study on Facebook and Instagram. Data were collected during October and November 2019.

The instrument used in the research had three sections. The first section had a filter-question where respondents indicated their education level at the moment. The respondent would only proceed fulfilling the instrument in case of he concluded or was enrolled, in 2019, in an academic mastership, professional mastership, or academic doctorate.

The second section targeted identifying work-related values using the Reviewed Scale for Work-Related Values (EVT-R), developed and released for using by Porto and Pilati (2010). EVT-R composes of 34 items in which respondents should indicate the importance of each item using the scale that ranges from “1 – not important at all” to “5 – extremely important”. EVT-R was chosen because: (i) the scale presents satisfactory security; (ii) it was developed and suits Brazilian context in order to understand work values at organizational environment; (iii) it evaluates theoretical structure in a more satisfactory way so that, according to the authors, it is the scale that gets closer to Schwartz’s Theory of General Values (Porto & Pilati, 2010; Andrade, Costa, Estivalete & Lengler, 2017).

The third section aimed at featuring respondents from sociodemographic questions. The first question regarded respondent’s year of birth. Such question allowed ranking respondents into generations Y and Z and worked as a filtering question to allow excluding respondents out of the scope of the research.

Software Statistical Package for the Social Sciences-SPSS, version 22, was used for analyzing data, following the given steps: (i) descriptive statistics; (ii) exploratory factorial analysis; and (iii) t Mann-Whitney (M-W) test. Exploratory Factorial Analysis (EFA) was used aiming at checking the formation of factors derived from EVT-R. So, initially communalities were checked, which feature the variance shared by an original variable of the study, which in turn must show a value higher than 0.5 (Hair Jr, Black, Babin, Anderson, & Tatham, 2009). KMO testing (Kaiser -Meyer-Olkin) and Bartlett Sphericity testing were used to check technical adequation (Field, 2009). Additionally, the Measurement of Adequation of Sample (MAS) was checked by means of diagonal elements provided in the correlation anti-image matrix, and whether factors retention presented more than 50% of the variance explained (Hair et al., 2009). As advised by Field (2009), factor loads lesser than 0.4 were suppressed and variables were arranged according to load size to make interpretation easy. The method of main components with Varimax rotation was used for extracting factors.

Finally, due to data non-normality, checked by means of the Kolmogorov-Smirnov test, non-parametric Mann-Whitney (M-W) test was used to check values differences between Generations Y and Z. addressing ethical criteria the study was approved by the Research Ethics Committee CEP/SD of the Federal University Of Paraná, being registered under number 18268819.4.0000.0102.

Work values are under studies as important variables influencing organizational behavior and they guide peoples’ professional lives. The aim of the present study was to analyze work values interpreted as significant to Generations Y and Z and Accounting stricto sensu students. It was seen that Generations Y and Z respondents perceptions differ in a few aspects. Generally, results show that respondents from these generations give higher importance to values related to financial stability and better life conditions by means of work. Such result confirms Maloni et al., (2019) findings, who evidenced Generation Y and Z students focus on financial stability.

To check the most significant values the averages of factors formed by Exploratory Factorial Analysis (EFA) were calculated for their later arrangement in a hierarchy. So, the ordination of work values for Generation Y and Z respondents according to importance degree was set as follows: Security; Achievement; Universalism and Benevolence; Stimulation; Self-determinism; Compliance; and Power. In this way, the findings from this research evidenced that values regarded as the most important at workplace relate to Security factor and are linked to financial stability and financial independency. On the other hand, sovereignty and prestige, composing Power factor, were not considered as important values for the sample involved in the present study.

Results found support in literature, which shows financial income, stability, high wages, and wealthy as priorities for Generations Y and Z (Hajdu & Sik, 2018; Delloite, 2019; Maloni et al., 2019). Besides that, studies quote Generation Y and Z youngsters as favorable to teamwork and collective action, and less worried about status and power (Ozkan & Solmaz, 2015; Waal et al., 2017). Mann-Whitney (M-W) test indicated generations only differ as to the importance given to values composing Achievement factor.

The present research offers theoretical, practical, and social contributions. It delivers substantial contribution to empirical literature of generations as an issue at work context mainly because it analyzes Generation Z, recently inserted into academy and market, and because it regards the stricto sensu workplace of these students. As a practical contribution comes the fact that, from understanding such values, teachers and education managers can build new syntheses in their education practices to promote students’ well-being and address these generation’s needs. Besides that, being aware of those generations work values helps companies’ managers to identify the goals their employees have at work and to develop organizational strategies promoting satisfaction and engagement at workplace. With regards to social contribution, Generation Y and Z preferences at workplace throw light on several behavior aspects such as depression, anxiety, resilience, satisfaction at work, career projection, which are frequently left behind in professional formation. These behavior aspects clearly interfere with choosing a profession in a substantial way, as well as the upcoming from such choice on and individual’s life both as person and professional.

Understanding Generation Y and Z features and values at workplace is the first needed action towards understanding the several needs these generations have regarding work. In this way, besides differences, it is important to know similarities among generations since it can be helpful in management practices in the company or institution so that communication and living can be improved. Besides that, organizations should also know and clearly disclose their values in order to raise new generations interest and better evaluate their performance as well as their coworkers.

The combination of quantitative analysis to qualitative approach used in the present study could help to have a better understanding of work values since they develop along individuals’ personality is established, being one of the limitations present in the research. Combined to this, as well as work values reveal preferences and behavior ate workplace, future researches could investigate other behavioral variables such as satisfaction and engagement, along with work values in order to predict significant results on organizations and institutions performance.