| dc.description.abstract | A Study of the Different Work Values and Incentive Preferences among Different Generations of Employees of Taiwan Power Company
Abstract
Aging populations has given rise to a series of issues common to most developed countries. In consequence of this trend, the global power industry is facing a number of serious human resource challenges. In an effort to manage the problem of aging and large-scale retirements, the Taiwan Power Company has made efforts to recruit significant numbers of new employees in recent years. This surge of new employees, while necessary, has created a range of challenges for the company’s human resources policy and management.
The aim of this study was to define the values of different generations of employees and to identify the most appropriate incentives to motivate and meet the needs of each group. For the purposes of this study, three “Taiwan Power Company generations” were identified. These included “Baby Boomers” (1945-1960), “Generation X” (1961-1976), and “Generation Y” (1977- ). These groups were then examined by means of a questionnaire, which included a total of 945 valid responses. Through statistical analysis, the following were determined:
1.There are significant differences in the “external reward needs” amongst different generations.
2.There are differences in certain work values among those of different genders, positions and seniorities.
3.Different Generations of employees have different direct -, indirect- and external compensation preferences.
4.There are differences in certain individual motivation based on position, education and seniority.
Based on these findings, this study makes several recommendations for building and revising the incentive system of the Taiwan Power Company. These recommendations include:
1.More attention should be paid to the differential allocation of bonuses.
2.Efforts should be made to encourage talents associated with different generations.
3.Leadership development programs should be established and expanded.
4.Greater importance should be placed on addressing the management challenges associated with different generations.
Keywords: Generations, work value, work motivation
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