Viewpoints and business values of the New Generations

The results of the expert interviews are supplemented together with the findings from theoretical research and represent a holistic picture of the demands to organisations.

In analysing the differences between the New Generations, the results (see chapter 6 of the online survey "New Generations: Changes of values, leadership and organisational culture" have shown that there are no significant differences between Generation Y and Generation Z.

Therefore, the following chapter examines the findings of the expert interviews regarding the differences in viewpoints and business values of the New Generations. The defined areas are derived from the previous study and cover the areas of flexibility, feedback, career, digitalisation and leadership. Results of the qualitative analysis are complemented with the findings from theoretical research.

Table 23 shows an overview of the examination results:

91 Viewpoints and business

values regarding working life

Generation Y Generation Z

Values in business life Network, teamwork, Claims to work-life Positive feedback,

work must be fun,

Usage of digitalisation Usage of electronic devices, e.g. smartphone, tablet, notebook etc.,

usage of one or two devices at the same time

Flexibility in working life Flexibility plays a significant role, job sharing,

flexible working hours

Flexibility plays a significant role, wants to work anywhere (remote work)

Job-hopping and loyalty Willing to change job if they are disappointed,

Claims to leadership Mentor and counsellor Mentor,

freedom and security

Feedback in working life Standardised feedback process,

Table 23 Requirements Business Life Generation Y & Z, own illustration

92 The examination of the opinion of the expert showed that in the field of values in business that within Generation Y, the essential values network, teamwork, optimism and flexibility dominate.

Generation Z differs from the Millennials as they are looking for internationality and digital technology. Furthermore, they show the characteristics of egoism and self-realization, which is a bit controversial with the literature research and the final value "loyalty".

They align their promises of support with issues that affect everyone, not for a small social sphere or just themselves. Zs further exhibit strong feelings and concern for those around them.

Since the generation is still at the beginning of their working career, it remains to be seen how the values develop. The evaluation of the results is based on the experience of the experts.

The claims to working life overlap within the New Generations. Both want to get positive feedback and work should be fun. Further, they are looking for a positive working environment.

The respondents think that Generation Y demands private life as an essential component in working life, whereby Generation Z is looking for development with simultaneous permanent contracts. These are no longer a matter of course, in the world of work at present. Zs strive for security in an insecure working environment. One of the core values within the New Generations is the use of digital networking. They are looking for the possibilities to be 24 hours online and available as they know from their private life.

To enable the requirement of 24 hours availability, the usage of technical possibilities plays an essential role in the company. Both Generation Y and Generation Z are used to multitasking usage of electronic devices. As a result, they also demand the use of technical possibilities in the workplace. In addition to the usage of two devices, e.g. smartphone and notebook at the same time at the Millennials, the Zs use three or more devices at the same time. In this area, the experts do not see a significant difference, but there is a difference between the generations in terms of digital affinity.

As described in chapter 2.3.2, flexibility has a high priority within the New Generations.

Examination underlines this and experts see no significant differences between the two generations. For Gen Y, as well as their successors, flexibility plays a significant role. In this context, the experts explain the demand for flexible working hours and remote work. In this context, job sharing is a possibility. Two employees reduce their working hours and share the responsibilities of a full-time employee, even at the management level. Job sharing is only possible if based on confidence and coordination. Furthermore, it is not possible to use the model

"job sharing" in every kind of job. Nowadays, New Generations want to approach job mobility and job flexibility.

In the defined area "job-hopping and loyalty" experts see a significant difference besides the digital affinity between the generations. They call Generation Y job-hoppers who change jobs every 2-3 years. They are open and willing to change jobs if they are disappointed. As summarised in the expert interviews, job platforms such as Xing and Linked quickly offer the opportunity to seek new challenges. In contrast, Generation Z is looking for a long-term working relationship. For them, the values of traditions and family play a role in the area of work.

Members of Generation Z witnessed a high level of unemployment during their youth, which leads that the word loyalty is different concerning the working world than it was within the Millennials because they are very career-minded.

93 In the viewpoint and business values of the NG regarding leadership, respondents see an increased demand for their role as mentor and counsellor. The New Generations expect support from their superiors in all areas in the world of work. Sometimes it is sufficient if leadership acts as a best practice and as a role model for them. Generation Z also expects from their future leaders that they give them a sense of freedom and security.

In the area of balance between social and business life, the experts do not see any significant differences between Generation Y and the Zs. For both generations, the work-life balance plays a significant role. Respondents mentioned that they see a difference within the Millennials, as they demand an even stronger separation between work and social life. They focus on their family and friends. In the future, even when Generation Z found their own family, they might call for a stronger separation.

The theoretical studies, as well as the survey, have shown that development and continuous education is an essential requirement of the New Generations to organisations. Generation Y and Z demand constant personal development. Most members of their generations have studied and already have a solid primary education. The challenge for the generation is the continuous adaption of new roles and tasks and their openness for technological progress. Zs will look for the possibilities to build up transferable skills to have a basis for the future. For this generation, personal development and growth have high priority.

In the area of communication in the job environment, the experts agreed that the New Generations communicate via electronic devices via smartphone, tablet or notebook. However, Generation Y still works with paper communication.

The requirements for feedback of Generation Y and Generation Z are summarised and compared with the theoretical and practical findings relating to viewpoints and business values regarding business life. The desire for standardised and continuous feedback is prevalent in both generations. Companies should have the orientation of 360-degree feedback processes, as the NG not only want to receive feedback but also provide feedback to their executives. The key difference between the Millennials and their followers is that the Zs are most inclined to receive only "positive feedback". They see it more as motivation, and thereby they can focus on their strengths.

Summary

The analysis showed that the requirements of Generation Y and Generation Z overlap in many viewpoints regarding working life. This finding was already demonstrated by the comparison between Generation Y and Generation Z in study I. The expert opinions also show common trends of the generations, which are summarised with the findings of the theory in a table.

Feedback, flexibility, personal development and education play an essential role in both generations. There is also no deviation between the expert opinions and the findings investigated in the literature.

The expert interviews have shown that feedback is increasingly demanded by their employees and has often been standardised in the companies. The opportunity to give feedback to the

94 executives (360 degrees) is also frequent in the company. This result is confirmed by the theoretical evaluation.

The usage of digital possibilities is not only essential for the Millennials, but also Generation Z.

Different electronic devices are used simultaneously. However, Gen Z shows an enormous overhang of the use of this possibility. This ensures communication and networking. The working method is also the prerequisite for companies and a modern working environment.

The differences are, next to the area of digital affinity, also the desire for job security and loyalty. The last generation defined in theory shows a shift towards to old values. Due to the uncertainty, they have seen in the workplace, and they are looking for loyalty. However, the career path of Gen Z is no longer "one job in life" like the old notion. They will work in jobs that do not even exist yet. The challenge for the generation is the continuous adaption of new roles and tasks and their openness for technological progress.

The results also highlight the importance of the manager, who not only show mentor and counsellor skills in the future but also to fulfil the new requirements of the New Generations and job satisfaction in the company.

The following chapters describe the concept map. Based on the findings, the new NGCM applies to Generation Y and Generation Z. The testing of this model or implementation in companies is not the content of this research.