Do different times call for different measures? The psychological contract of the Millennial Generation in times of economic recession
Purpose – The purpose of this study was to investigate the effect of generational, contextual and individual influences on Millennials’ career expectations. Design/methodology/approach – Two matched samples of Millennials graduating in 2006 (n = 787) and 2009 (n = 825) filled out a questionnaire regarding their psychological contract expectations, career strategy and optimism about the labor market in completely different socio-economic contexts. Findings – Recession is related to lower levels of optimism. During times of recession, Millennials lower their expectations regarding the work-life balance and social atmosphere. However, their expectations regarding job content, training, career development and financial rewards remain high, suggesting that these expectations are largely embedded within the generation. Moreover, Millennials’ expectations are significantly influenced by individual variables, careerism and optimism. Implications – This study suggests that managers need to focus their limited resources during times of recession on meeting Millennials’ high expectations regarding their development and careers. Because violating these high expectations can have detrimental effects on a number of outcomes, organizations are encouraged to discover creative and inexpensive ways to provide Millennials with meaningful work, plenty of learning opportunities and career development. Originality/value – By comparing two matched samples of Millennials in two different situations, the present study was able to disentangle generational, contextual and individual influences on Millennials’ psychological contract expectations
|Date of creation:||05 Mar 2010|
|Contact details of provider:|| Postal: Reep 1, 9000 Gent|
Phone: +32 9 210 98 99
Fax: +32 9 210 97 00
Web page: http://www.vlerick.com
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:vlg:vlgwps:2010-02. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Isabelle Vandenbroere)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.