Generational difference in work values in achieving work-life balance: A study on millennials and generation Z 6

Business Research: (BSBA major Human Resource Management) - Pamantasan ng Lungsod ng Maynila, 2023 56

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Background of the study As time changes, the required workforce in the workplace also changes depending on the needs and wants of the company. Every generation brings different experiences and values to the workplace, which fosters more original thinking and creative problem-solving. This is one of the many advantages of having a generationally diverse company. Learning from both younger and older generations helps employees develop their skills. According to Mohsin Wohocho (2023), a defined workplace is a specific location or environment where individuals engage in tasks and responsibilities assigned by their employer or organization. Each industry has unique demands and requirements, determining the type and structure of the workplace suitable for its operations. Asavari & Sharma (2022) said that each of these generations has different preferences, working styles, and strengths influenced by the world they grew up in, their professional experiences, and their life stage. Today, many workers from different generations work together in the same businesses and workplace, and since different generations have different characteristics and their expectations from work and life differ, generational differences make it hard to manage the human resources of businesses (Aydemir et al., 2016). According to Gilchrist (2019), Millennials and Gen Z currently account for slightly over a third of the workforce (38%). The next decade will see a surge in the youthful generation's presence in the workplace, with their numbers expected to reach a staggering fifty-eight percent (58%). This growth will make them the most dominant demographic in the workforce. As a new generation of workers is joining the workforce, different values and perspectives on work are brought up in the workplace by a diverse workforce. As defined by Arsenal et al., 2021, work values depict a solid or heavy personal preference for what is essential and significant to the employees regarding their work. It is a common belief that each generation carries a set of work values distinctive from one another (Silva et al., 2015). In relation to the study, work-life balance (WLB) is the degree to which individuals attain equal levels of engagement and satisfaction in work and life roles (Clark, 2000; Greenhaus et al., 2003). Balancing these two equally essential domains has proven difficult due to the increasing demands of work expectations and personal life. In its simplest form, work-life balance can be described as equilibrium or an overall sense of harmony in work and private life (Yang et al., 2018,p. 1). By creating a work environment that prioritizes work-life balance, employers can save money and maintain a healthier and more productive workforce (Sundari et al., 2020). Succinctly, the generational shift within the workplace presents changes and challenges in the work values in relation to work--life balance, which both Generation Z and Millennials are addressing through this research. Rincy et al.'s (2015) study revealed the influence of work values on work-life balance issues faced by employees. These work values guide daily actions, bind groups, help resolve conflicts, and stimulate development, all closely linked to WLB. Although earlier research has yielded insightful information regarding generational disparities, the influence of these values on the aspiration and capacity of individuals across generations to attain work-life equilibrium remains inadequately understood. Barber's (2014) study delved into the differences between Generation Y and Baby Boomers, particularly emphasizing work-life balance. However, the research specifically targeted these generations and focused on this aspect. This prompted the idea of conducting a study centered Millennials and Generation Z. Moreover, on the dominant generations in today's workforce-future research could broaden its scope by incorporating additional dimensions of work values. To enhance the study's credibility, Rafiki & Yanki (2022) recommend employing longitudinal methods to validate the current findings and track potential changes over time to strengthen the overall conclusions. This research aims to contribute to a better understanding of the growing complexity of the modern workplace by exploring the differences in work values between generations and the corresponding implications in achieving work-life balance. This is important because it helps to promote a supportive, inclusive, and flexible work environment to benefit workers of all generations, specifically Millennials and Gen Z. Hence, this study aims to identify the generational disparities in work values that influence perceptions and practices in achieving work-life balance.

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