The purpose of this paper is to explore the life priorities of Gen Y, the largest cohort of generation in India. Further variations in the life priorities of Gen Y with regard to their demographics have also been analyzed.
Ten-item Schwartz Value Inventory was subjected to factor analysis to explore defining factors for studying the life priorities of Gen Y in Indian context. Respondents ranking of the factors so revealed will allow us to study their preferred life priorities. The effect of demographics was assessed by employing an independent sample t-test.
Factor analysis revealed two factors, “materialism” and “altruism,” and Gen Y preferred materialism over altruism as their life priority. Gender and work experience did not show significant differences with regard to the life preferences Gen Y.
Gen Y is increasing its presence at workplaces across the world, and limited research has been done to study their motivations, needs and expectations at work in Indian context. This study could help managers gain insightful information related to the life priorities of Gen Y which could be harnessed to make effective strategies for their recruitment and retention.
The paper provides a valuable contribution by measuring the life priorities of Gen Y in India and adds to the scant literature on this cohort of generation.
