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Financial, Career and Professional Aspects of the Motivation of the New Generation of Doctors in Russia

Author

Listed:
  • Christopher M. Davis

    (Russian Presidential Academy of National Economy and Public Administration (RANEPA), Moscow 119571, Russia)

  • Ekaterina M. Pazukhina

    (Russian Presidential Academy of National Economy and Public Administration (RANEPA), Moscow 119571, Russia
    Financial Research Institute, Moscow 127006, Russia)

Abstract

Russia is now experiencing a significant inflow of Generation Y (Millennials, born 1980–1999) into the labor force. By 2020 Generation Y employees will make up 50 % of the national labor force and will occupy important mid-career positions. International studies show that Millennials have different motivations and career expectations. They are unlike those of previous generations in having better technological skills, higher expectations concerning technology at the workplace and opportunities to use their professional skills, greater interest in achieving a work-life balance and strong desires to improve their knowledge related to work. The hierarchy of motivating factors of young Russian doctors diverges from those in the UK by the position of financial remuneration, which is higher in Russia. Quantitative analysis of Russian surveys shows that doctors from Generation Y have lower perceptions of their social status than do doctors from previous generations. The article concludes by presenting proposals to improve motivation of Millennials employed in Russian medical system, which could increase their skills and professional performance.

Suggested Citation

  • Christopher M. Davis & Ekaterina M. Pazukhina, 2019. "Financial, Career and Professional Aspects of the Motivation of the New Generation of Doctors in Russia," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 1, pages 110-132, February.
    • Handle: RePEc:fru:finjrn:190110:p:110-132
    DOI: 10.31107/2075-1990-2019-1-110-132
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    generations; cohorts; demography; motivation; doctors; healthcare sector; reforms;
    All these keywords.

    JEL classification:

    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health
    • J44 - Labor and Demographic Economics - - Particular Labor Markets - - - Professional Labor Markets and Occupations
    • H51 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Health
    • J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts

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