Organizations need to be as dynamic as the economy. This study compared and contrasted the characteristics of Generation X and Generation Y, as members of Generation Y continue to move into the workforce to begin their careers. Organizations should be cognizant of the needs of these new recruits, particularly if they vary in comparison to the previous generational cohort. Furthermore, members of Generation Y experience substantial increases in their discretionary income as they enter the workplace, which is of special interest to marketers targeting this group. An identical survey was administered to respondents from each generational cohort. Information was gathered concerning each group, from basic demographics to extensive Internet usage characteristics. Independent t-tests were run to assess the differences between Generation X and Generation Y regarding several variables: Internet satisfaction, volunteerism, brand loyalty, work orientation, and risk aversion. Results revealed that Generation Y is amenable to more Internet use than the previous generation, equal to Generation X in its interest in volunteerism and its work orientation, and is less brand loyal and less risk averse than Generation X. Implications for the organization and marketers were detailed. Finally, limitations and suggestions for future research are discussed.
Reisenwitz et al. (Thu,) studied this question.