Leeds University Business School

Module code: LUBS3345

Generation Y in the Accounting Industry: An

Exploration into Their Work Values and the Impact of
These on Individual Outcomes

This dissertation is submitted in accordance with the Leeds University

Business School’s regulations. I confirm that this is all my own work
and, where quotes or citations have been made, they are appropriately
referenced.

Declared word count: 11998

I do not wish this dissertation to be made available to students

electronically via the University of Leeds library website

I have no objections to this dissertation being made available to

students electronically via the University of Leeds library website /

1
 Abstract

Generation Y will soon dominate the workforce, yet organisations are

consistently facing problems in terms of attracting, retaining and motivating this
cohort, particularly in the Accounting industry. Due to their recent entrance into
the workforce, Generation Y has received little empirical examination, with
current literature reporting largely inconsistent findings. This qualitative study
seeks to address the current gap by providing a richer insight into Generation
Y, specifically uncovering their work values and the impacts of these in this
industry context. An explorative approach was taken, with semi-structured
interviews conducted across a case of fourteen Generation Y Accountants.
Findings revealed the importance of considering the work values of this cohort,
with an absence of such consideration meaning substantial negative impacts
for organisations. An understanding of the key work values of Generation Y
Accountants was obtained. Specifically, while Generation Y place high
importance on extrinsic aspects of work, salary alone is not enough to satisfy
these employees. Intrinsic values such as task variety, responsibility and
opportunities for personal growth need to be considered in order to promote
enjoyment at work. Generation Y are highly socialised, valuing teamwork and
building relationships with colleagues. Of particular importance is having a
work life balance, with the concept of ‘work to live’ largely associated with this
cohort. Lastly, Generation Y Accountants need to feel valued at work,
preferring minimal hierarchy to allow active decision-making. In uncovering
these values and the reasons behind them, it was evident how context impacts
generational research, thus indicating a substantial contribution to generational
theory.

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 Acknowledgements

Firstly, I would like to thank my supervisor, , for her exceptional

support and guidance throughout the entire process. You have been a
pleasure to work with and your positivity and reassurance has kept me calm
and focused throughout the year, for which I am extremely grateful. I really
value the time you have dedicated in helping ensure I reach my full potential,
and I hope this piece of work demonstrates this.

To the module leader, , I would like to thank you for the time
and effort you have put into guiding us through the dissertation process. I have
valued your continued support in keeping us on track and motivated
throughout the year.

Finally, I would like to express my appreciation for the participants of my study.

Thank you for taking the time out of your busy work schedules to participate, I
am very appreciative of this.

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 Table of Contents

1.0. Introduction.…………………………………………………………………...7

1.1. Research Problem........................................................................7

1.2. Research Aim.………………………………………………………..9

1.3. Methodology.………………………………………………………….9

1.4. Dissertation Outline………………………………………………...10

2.0. Literature Review……………………………………………………………11

2.1. Overview……………………………………………………………..11

2.2. Generational Differences…………………………………………..11

2.3. Work Values…………………………………………………………13

2.3.1. Job Satisfaction……………………………………………..14

2.3.2. Employee Turnover…………………………………………15

2.3.3. Summary…………………………………………………….15

2.4. Generation Y Work Values………………………………………...16

2.4.1. Overview……………………………………………………..17

2.4.2. Extrinsic Values……………………………………………..17

2.4.3. Intrinsic Values………………………………………………18

2.4.4. Social Values………………………………………………..18

2.4.5. Leisure Values………………………………………………20

2.4.6. Summary…………………………………………………….20

2.5. Context……………………………………………………………….21

2.5.1. Summary…………………………………………………….22

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 2.6. Generation Y in the Accounting Industry…………………………23

2.7. Conclusion on the Gaps on Existing Literature………………….23

3.0. Methodology…………………………………………………………………25

3.1. Introduction…………………………………………………………..25

3.2. Research Objectives………………………………………………..25

3.3. Research Questions………………………………………………..26

3.4. Philosophical Stance……………………………………………….26

3.5. Research Design……………………………………………………27

3.5.1. Qualitative Research……………………………………….27

3.5.2. Case Study…………………………………………………..27

3.5.3. Interviews…………………………………………………….28

3.6. Access and Sample………………………………………………...29

3.7. Data Analysis………………………………………………………..30

3.8. Research Ethics…………………………………………………….32

4.0. Data Analysis………………………………………………………………..33

4.1. Introduction………………………………………………………….33

4.2. Generation Y Work Values in the Accounting Industry…………33

4.2.1. Extrinsic Values……………………………………………..33

4.2.2. Intrinsic Values……………………………………………...35

4.2.3. Leisure Values………………………………………………36

4.2.4. Social Values………………………………………………..38

4.2.5. Organisational Hierarchy…………………………………..39

4.3. The Impact of Work Values on Individual Outcomes……………40

4.3.1. Importance of Work Values Fit…………………………….40

4.3.2. Negative Impacts……………………………………………40

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 4.3.3. Action Taken………………………………………………...41

5.0. Discussion…………………………………………………………………...43

5.1. Introduction…………………………………………………………..43

5.2. Research Question 1……………………………………………….43

5.2.1. Extrinsic Work Values………………………………………43

5.2.2. Intrinsic Work Values……………………………………….45

5.2.3. Work Life Balance…………………………………………..47

5.2.4. Social Values………………………………………….........48

5.2.5. Organisational Hierarchy…………………………………..50

5.3. Research Question 2……………………………………………….51

6.0. Conclusion………………………………………………………………...…53

6.1. Overview of the Study………………………………………..........53

6.2. Theoretical Implications……………………………………………54

6.3. Practical Implications……………………………………………….55

6.4. Limitations and Future Research Recommendations…………..57

7.0. References…………………………………………………………………..59

8.0. Appendix……………………………………………………………………..71

8.1. Participant Information……………………………………………..71

8.2. Interview Schedule………………………………………………….72

8.3. Email to Participants………………………………………………..73

8.4. Consent Form……………………………………………………….74

8.5. Template Analysis…………………………………………………..75

8.6. Supporting Quotes………………………………………………….80

8.7. Field Work Assessment Form……………………………………..96

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1.0 Introduction

1.1 Research Problem

The current ageing population, and consequently ageing workforce, is

presenting numerous challenges for organisations (Connell et al, 2015). With

over 75 million workers set to retire in coming years, the challenge of attracting

and retaining younger workers is a key focus for employers (Twenge et al,

2010). McKinsey and Company estimated a 33% rise in demand for talented

employees over the next 15 years, yet a 15% drop in supply was also

predicted (Lowe et al, 2008). This shortage of skilled workers has highlighted

the need for employers to direct attention to the youngest generation in the

workforce, namely Generation Y (Ng and Johnson, 2015). It is estimated that

Generation Y will make up 75% of the global workforce by 2030; hence

understanding this generation is a key goal for many organisations (Kilber et

al, 2014).

For the first time, the workforce consists of four generations, including

Traditionalists, Baby Boomers, Generation X and Generation Y (Lewis and

Westcott, 2017). Past research predominantly focuses on older generations,

with Generation Y receiving little empirical examination, therefore indicating a

clear gap for further research (Twenge et al, 2010; Cooman and Dries, 2012).

The need to focus on Generation Y stems from the suggestion their work

values are radically different to those of previous generations, therefore

management techniques need to be adjusted (Balda and Mora, 2011). The

fact that large organisations, such as Google and KPMG, have already taken

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action to adapt to the work values of Generation Y (Twenge et al, 2010),

suggests the commercial relevance of a study in this area. The importance of

exploring the work values of this generation has also been emphasised

throughout academic literature (Wong et al, 2008; Cogin, 2012; Papavasileiou

and Lyons, 2015). It is argued that failure to understand and act on these

values can lead to individual outcomes such as reduced satisfaction and

increased turnover (Cogin, 2012; Lewis and Wescott, 2017). However, due to

their recent entrance into the workforce, many of Generation Y’s work values

remain unknown (Queiri et al, 2014). Work values assumed core to Generation

Y have been proposed, yet contradictory findings have highlighted the need for

further research (Deal et al, 2010).

Existing research surrounding the work values of Generation Y largely

ignores the role of context, which may explain inconsistent findings (Lyons and

Kuron, 2014). Studies have suggested country and industry context should be

considered, to avoid inaccurate generalisations (Deal et al, 2010). Therefore,

exploring the work values of Generation Y in specific contexts has been

identified as a key area for further study (Rentz, 2015). A context of particular

significance is the Accounting industry (Lindquist, 2008). In 2017, 20% of all

UK graduates were employed in the Banking and Finance sector (ONS, 2017),

with Accounting companies facing intense competition to attract quality

candidates (Lindquist, 2008). Additional problems concerning the retention of

Generation Y in the industry has confirmed the need to better understand the

work values of this generation in this specific context (Caglio and Cameran,

2017).

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1.2 Research Aim

Given the research problem highlighted above, the focus of this study is on

the work values of Generation Y in the Accounting industry. Limited empirical

research and inconsistent findings provide substantial support for a study of

this nature (Twenge et al, 2010; Cooman and Dries, 2012). Both a review of

existing literature and an exploratory study will seek to address the following

research aim:

To explore the work values of Generation Y in the Accounting industry,

understanding the impact of these values on individual outcomes, and gaining

an insight into the importance of context in generational research.

1.3 Methodology

In order to address the research aim and subsequent objectives and

questions, an interpretivist and inductive approach is taken. This was deemed

most effective due to the exploratory nature of the study (Collis and Hussey,

2014). A qualitative methodology is adopted, with a single case study of

Generation Y Accountants. As previous research is predominantly quantitative,

the need for a study of this nature has been highlighted (Kultalahti and Viitala,

2015). Semi-structured interviews are used to allow a deeper, more detailed

exploration needed to investigate the work values of Generation Y, as well as

their effect on individual outcomes (Saunders et al, 2012).

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1.4 Dissertation Outline

This paper begins with an introduction to the study, highlighting the present

research problem. This is followed by an extensive review of existing literature

surrounding the work values of Generation Y. The following chapter outlines

the methodology of the study, providing justification for the stance and design

adopted. The findings of the study are then presented, identifying and

analysing emerging themes. A discussion of the findings will then follow, with

practical implications identified. Finally, overall conclusions will be provided,

indicating limitations of the study and future research suggestions.

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2.0 Literature Review

2.1 Overview

An extensive review of literature surrounding the work values of Generation

Y will be discussed in this chapter. This will begin by defining the concept of

generations and the existence of generational differences in the work place.

Work values will then be explored, identifying the need for congruence

between the values of employees and aspects of their work. Additionally, the

existing understanding of Generation Y’s work values will be identified,

highlighting inconsistencies within the literature. Finally, context will be

considered, emphasising its importance in generational research.

2.2 Generational Differences

A generation is defined as a group of individuals, born within the same

defined period of time, who have experienced similar life events during their

stages of formative development (Crumpacker and Crumpacker, 2007; Cogin,

2012). These shared experiences mean members of a generation develop a

common set of values (Solnet et al, 2012). As the forces that shape one

generation differ from the next, differences in beliefs, values and attitudes are

said to exist between generations (Cogin, 2012; Solnet et al, 2012). These

factors consequently impact both general and workplace behaviours (Twenge

et al, 2010; Cogin, 2012). Vast extant research has meant the concept of

generations is now accepted in academia and four generations have been

11
identified in the current workforce (Crampton and Hodge, 2009; Lewis and

Wescott, 2017). These include, Traditionalists, Baby Boomers, Generation X

and Generation Y (Lewis and Wescott, 2017). Although the variability in the

time periods of these generations has been criticised (Johnson and Lopes,

2008), there is a consensus that these four generations exist, with only

moderate variations in start and end dates (Lieber, 2010).

A main criticism of the generational perspective argues differences are

determined by life stage, not generation, suggesting the values and beliefs of

individuals change as they age (Appelbaum et al, 2005; Johnson and Lopes,

2008). This links to the cross-sectional nature of past studies, meaning their

ability to segregate generational differences from differences in age has been

limited (Dencker et al, 2008; Queiri et al, 2014). However, empirical evidence

based on longitudinal studies has affirmed the existence of differences in work

values across generations (Twenge et al, 2010).

The characteristics and work values of each generation have been

suggested throughout the literature (Lieber, 2010). Interestingly, Generation Y

employees, born 1980-2000, are suggested to have significantly different

values and attitudes to generations before them, thus highlighting the

importance of focusing on these employees (Shaw and Fairhurst, 2008).

However, although generic values of each generation have been identified,

there is much debate over whether these can be universally applied or whether

they are mere stereotypes, lacking empirical support (Costanza and

Finkelstein, 2015). Contradictions in findings have highlighted the need for

further research to more clearly define the values held by generations

(Giancola, 2006; Sessa et al, 2007). The impact of Generation Y’s work values

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and whether organisations need to adapt to these has also been questioned

(Jorgensen, 2003). Therefore, more consideration is needed on the impact of

work values on individual outcomes.

2.3 Work Values

Values are beliefs about desirable end states that act as guiding principles

for individuals (Rokeach, 1973). Values are said to be enduring and underlie

attitudes and preferences, as well as guiding behaviours and decisions (Lyons

et al, 2010). Therefore, work values are defined as beliefs about the

desirability of work aspects and outcomes, and determine what individuals

consider to be important in the completion of work (Dose, 1997). Three types

of work values are consistently identified in the literature, these include

extrinsic, intrinsic and social values (Lyon et al, 2010; Jin and Rounds, 2012;

Papavasileiou and Lyons, 2015). Extrinsic values relate to material aspects of

work such as salary, whereas intrinsic values relate to valued aspects of work

itself, such as autonomy and intellectual stimulation (Schwartz, 1992). Social

values pertain the relationships formed with co-workers as well as social

contribution (Schwartz, 1992). Additional values such as the need for work-life

balance have also recently been suggested (Queiri et al, 2014).

More than 70 years of research has highlighted the influence of work values

on individual outcomes such as job satisfaction and turnover (Jin and Rounds,

2012). This can be explained by congruence theory, which refers to the degree

to which the needs, demands and objectives of one component match those of

another (Nadler and Tushman, 1980; Pelled and Xin, 1997). It is argued the

13
greater the congruence, the more effective an organisation will be (Howell et

al, 2012). For example, congruence between individuals’ work values and

human resource management practices is said to result in increased

organisational performance (Cogin, 2012). Additionally, the literature focuses

largely on the concept of person-organisation fit (Hegney et al, 2006; Froese

and Xiao, 2012). Person-organisation fit, in terms of the values perspective,

describes the fit between employees’ needs, desires and preferences and the

work they carry out (Kristof-Brown et al, 2005). Congruence in this sense is

said to positively affect a range of work outcomes (Taris and Feij, 2001).

2.3.1 Job Satisfaction

The fit between an employee’s work values and aspects of their job is

suggested to increase job satisfaction (Hegney et al, 2006; Froese and Xiao,

2012). For example, Taris and Feij (2001) found when intrinsic values were

matched with organisational supplies, job satisfaction increased. Similar

findings were also expressed in a study of white-collar workers, where the

provision of valued work aspects increased employee satisfaction (Froese and

Xiao, 2012). However, for certain work values such as salary, this relationship

was not found (Froese and Xiao, 2012). An inverted U-shaped relationship has

also been suggested for certain values, where increasing valued aspects of

work will only increase satisfaction up to a certain point, following that will

result in reduced satisfaction (Taris and Feij, 2001). This is consistent with

Warr’s (1987) ‘Vitamin Model’. However this relationship is suggested for

14
intrinsic work values only (Warr, 1987), suggesting effects may differ

depending on the type of value.

2.3.2 Employee Turnover

Furthermore, work values fit has been linked to employee turnover (Kristof,

1996; Elfenbein and O’Reilly, 2007; Chang et al, 2008). For example, Takase

et al (2008) found when aspects of work were not congruent with individuals’

work values, their turnover intention increased. This was also evident in a

study of employees in the trade industry, where work values fit was

significantly related to turnover intention (Van Vianen et al, 2007), highlighting

the need to consider work values in order to retain employees. However,

Wheeler et al (2007) suggested this relationship depends on the availability of

jobs, with employees more likely to quit where alternative jobs are available.

Even though studies have suggested that work values fit is only moderately

related to turnover, consistent correlations do indicate the predictive power of

work values fit for turnover (Hoffman and Woehr, 2005).

2.3.3 Summary

Having identified the effects of work values on individual outcomes, it is

evident that organisations need to understand the work values of employees in

order to remain effective and therefore competitive (Cogin, 2012). Recent

literature highlights the importance of focusing on the work values of

Generation Y to attract and retain young talent, as older generations approach

15
retirement (Papavasileiou and Lyons, 2015). Exploring the work values of this

generation is especially crucial due to their recent entrance into the workforce;

meaning many of their values are unknown (Leveson and Joiner, 2014).

Further confusion lies in the inconsistencies between supposedly core values

of Generation Y, requiring further research in this area (Mencl and Lester,

2014).

2.4 Generation Y Work Values

Generation Y are the most recent cohort to enter the workforce, with

growing evidence suggesting they have distinctively different values, attitudes

and expectations than generations before them (Shaw and Fairhurst, 2008;

Solnet et al, 2012; Ng and Johnson, 2015). However, given their age, the work

values and attitudes of Generation Y have only recently gained attention in the

literature (Leveson and Joiner, 2014). Recent studies suggest that many of the

generation’s work values still remain unknown to employers, identifying the

need for further research in this area (Queiri et al, 2014). With past research

predominantly focussing on Baby Boomers and Generation X, and the

challenges facing organisations due to the retirement of millions of workers,

understanding the values of Generation Y has become of critical importance

(Twenge et al, 2010). It is argued that the future effectiveness of organisations

will depend on their ability to recognise and act on the values of Generation Y,

tailoring jobs, policies and working conditions to meet their expectations (Shaw

and Fairhurst, 2008).

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2.4.1 Overview

An extensive review of extant literature has indicated several work values

argued to be core to Generation Y (Martin, 2005; Lowe et al, 2008; Wong et al,

2008; Mencl and Lester, 2014; Lewis and Wescott, 2017). The following

sections discuss these values and highlight vast inconsistencies prevalent in

the literature, indicating further research is required (Kultalahti and Viitala,

2015).

2.4.2 Extrinsic Values

Having watched their parents encounter economic difficulties, it is

suggested that Generation Y place high importance on extrinsic work values

(Queiri et al, 2014). Several studies highlight the importance of pay in

attracting, retaining and motivating Generation Y employees (Dries et al, 2008;

Lowe et al, 2008; Twenge et al, 2010; Leveson and Joiner, 2014; Mencl and

Lester, 2014). For example, a study of the values of Generation Y found that

high value was placed on extrinsic aspects of work (Krahn and Galambos,

2014). Similar findings were reflected in Twenge and Kasser’s (2013) study,

where Generation Y employees were significantly orientated towards

materialistic values, such as desire for money and highly paid jobs. However,

inconsistencies have been identified, with some studies suggesting money is

not of high importance (Eisner, 2005; Ng et al, 2010; Weyland, 2011). For

example, Kultalahti and Viitala (2015) found Generation Y individuals in

Finland did not place emphasis on monetary rewards. Although, this may have

17
been due to cultural background, as in Finland it is considered inappropriate to

discuss salaries (Kultalahti and Viltala, 2015). This suggests the importance of

cultural context when considering Generation Y, which was also highlighted by

Papavasileiou and Lyons (2015) in their study of Greek Millennials.

2.4.3 Intrinsic Values

Studies have shown the priority Generation Y employees place on intrinsic

work values (Martin, 2005; Glass 2007; Dries et al, 2008; Solnet and Hood,

2008; Weyland, 2011; Cooman and Dries, 2012). Aspects of work such as

autonomy, meaningfulness and opportunity for growth are commonly cited

(Lowe at al, 2008; Kilber et al, 2014). For example, Terjesen et al’s (2007)

study of the work values of Generation Y graduates found intrinsic attributes,

such as task variety and personal growth, were more important than extrinsic

values. An interesting finding from the study was also the increased

significance of intrinsic values for female participants in the sample (Terjesen

et al, 2007). This is consistent with the work of both Cooman and Dries (2012)

and Ng et al (2010), who also found that women placed higher importance on

intrinsic values. This suggests that differences between individuals within a

generation may exist due to factors such as gender (Cooman and Dries,

2012).

2.4.4 Social Values

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 Generation Y are said to value social relationships at work (Cennamo and

Gardner, 2008; Weyland, 2011; Solnet et al, 2012). For example, Wong et al’s

(2008) study of employee traits, found Generation Y valued affiliation and were

highly socialised. It is argued this may be because Generation Y are often at

the lower end of the organisational hierarchy, so may feel more inclined to

build up contacts in order to progress (Wong et al, 2008). Additionally, Chen

and Choi (2008) found that Generation Y employees valued strong supervisory

relationships. However, as they also valued economic returns, it was argued

supervisory relationships are sought in order to achieve quick promotions to

fulfil this desire (Chen and Choi, 2008). Due to inconsistent results, drawing

conclusions about the social values of Generation Y is difficult, suggesting

more research is necessary (Twenge et al, 2010).

Social aspects of work have also been highlighted in terms of altruistic

values (Eisner, 2005; Lieber, 2010). It is argued Generation Y employees want

to make a difference, encouraging their employers to adopt responsible

practices and actively seeking participation in social activities (Glass, 2007;

Needleman, 2008). However, in their study surrounding corporate social

responsibility, Leveson and Joiner (2014) found monetary rewards were likely

to sway the social conscience of Generation Y employees. These findings

were consistent with those of both Ng et al (2010) and Twenge et al (2010). As

Generation Y employees have been identified as materialistic, their

engagement in pro-social behaviours is said to be unlikely (Twenge and

Kesser, 2013). Even though volunteering is common among Generation Y

students, this may be due to requirements of educational establishments, so

may not reflect their true values (Twenge et al, 2010).

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2.4.5 Leisure Values

The concept of a work-life balance is widely associated with Generation Y

employees (Ng et al, 2010; Cogin, 2012; Queiri et al, 2014). Witnessing their

parents working long hours only to be downsized has led to a ‘work to live’

attitude amongst the generation (Crampton and Hodge, 2009). Additionally,

increasing terror attacks has led Generation Y to re-evaluate their priorities,

shifting to an increased focus on their personal lives (Ng et al, 2010). For

example, McDonald and Hite’s (2008) study indicated a strong desire for work

life balance, with Generation Y viewing it as an indicator of personal success.

Similar findings were evidenced in studies across a range of industries

(Gursoy et al, 2008; Smith, 2010; Grobelna and Tokarz-Kocik, 2016).

Conversely, the assumptions based around Generation Y’s need for a work-life

balance have been questioned (Queiri et al, 2014). For example, Twenge et al

(2010) suggest a lesser focus on work-life balance due to the increased global

competition for jobs putting pressure on Generation Y to focus on work.

Additionally, Broadbridge et al (2007) found that work-life balance was less

relevant for Generation Y employees at the start of their careers, with

individuals prepared to make personal sacrifices initially, expecting the reward

of more flexibility in the future. This suggests career stage may influence the

desire for work-life balance.

2.4.6 Summary

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 As indicated by the previous critical discussion, there is still much to learn

about the work values of Generation Y (Mencl and Lester, 2014). Literature

suggests there is a significant need for further studies to uncover new insights

in this area (Cooman and Dries, 2012). As the stereotypical values of

Generation Y are often based on anecdotal evidence, both Mencl and Lester

(2014) and Cooman and Dries (2012) highlight the need and opportunity for an

empirical study. The inconsistencies observed throughout the literature have

called for a greater consideration of the role of context, in order to more

accurately understand the work values of this generation (Lyons and Kuron,

2014; Rentz, 2015).

2.5 Context

Context refers to the situational constraints that affect the meaning and

presence of organisational behaviour, as well as the relationships between

variables (Johns, 2006). Researchers often downplay context, even though it

can often explain anomalies in research and, if misunderstood, can damage

the generalizability of results (Johns, 2001). The need to consider context

when studying the work values of Generation Y has been widely recognised

throughout the literature (Deal et al, 2010; Lyons and Kuron, 2014; Rentz,

2015). However, inconsistencies in Generation Y work values research, as

previously discussed, are likely to be due to the disregard of context in many

extant studies (Lyons and Kuron, 2014).

Firstly, many generational studies are conducted in US contexts, so findings

are unlikely to apply to other nations (Parry and Urwin, 2011). For example,

21
the Vietnam War is said to shape the values of Baby Boomers, but it is unlikely

this experience had the same effect on individuals outside the US (Parry and

Urwin, 2011). This notion is congruent with Hofstede’s (1993) theory, which

states that work values are significantly impacted by a nations culture.

Conversely, the concept of global generations has challenged this perspective,

with the global reach of events in the modern age argued to affect multiple

nations in the same way (Edmunds and Turner, 2005). However, Egri and

Ralston (2004) found distinct differences between Generation Y employees in

the US and those in China, suggesting little support for this concept.

Additionally, industry context should also be considered (Deal et al, 2010). For

example, Real et al (2010) found distinct differences in the work values of

Generation Y blue-collar workers in comparison to white-collar workers,

suggesting values may differ depending on the industry. This is consistent with

Hui-Chun and Miller’s (2003) study; therefore further highlighting the need to

consider Generation Y’s work values in specific contexts.

2.5.1 Summary

The danger of disregarding context is that organisations will adopt practices

and strategies based on inaccurate stereotypes, which may result in ineffective

outcomes (Costanza and Finkelstein, 2015). Extant literature treats all

Generation Y as if they are the same, with no published studies examining

these employees in specific workplace contexts (Rentz, 2015). Furthermore,

where research does exist, it has predominantly focussed on Generation Y

students, not employees (Kultalahti and Viitala, 2015). Therefore, the need for

22
further research with a greater consideration of context has been emphasised

(Lyons and Kuron, 2014).

2.6 Generation Y in the Accounting Industry

The Accounting industry is experiencing new challenges with the entrance

of Generation Y into the workforce (Yeaton, 2008). With fierce competition to

attract the best candidates, organisations will need to change their approach in

order to meet the needs of this new cohort (Yeaton, 2008). Therefore,

understanding the work values of this generation in an Accounting context is of

crucial importance (Durocher et al, 2016). One of the most commonly cited

problems is the ability of organisations to retain Generation Y Accountants

(Bloom and Myring, 2008; Lindquist, 2008; George and Wallio, 2017). For

example, a survey by the Chartered Institute of Management Accounts of over

4000 Generation Y finance professionals, found that 78% would expect to look

for new employment within the following two years (Hagel, 2014). With

turnover at an unusually high rate (Reinstein et al, 2012), and a shrinking

market of qualified Accountants (Durocher et al, 2016), there have been calls

for scholars to investigate Generation Y in the Accounting industry (Caglio and

Cameran, 2017).

2.7 Conclusion on the Gaps in Existing Literature

Having reviewed the literature, it is evident that understanding the work

values of Generation Y is of critical importance (Leveson and Joiner, 2014).

23
Impacts such as decreased employee satisfaction and increased retention

highlight the potential negative effects if organisations fail to adapt to the

requirements of this cohort (Lyons et al, 2010). As existing research

predominantly focuses on previous generations, there is a clear need and

opportunity for further exploration into the work values of Generation Y

(Twenge et al, 2010; Mencl and Lester, 2014). Due to their recent entry into

the workforce, many of the work values of Generation Y still remain unknown,

and several researchers have expressed the need for an empirical study in this

area (Cooman and Dries, 2012; Leveson and Joiner, 2014; Queiri et al, 2014).

Inconsistencies in existing literature also highlight the need for further

exploration and suggest the importance of context in generational research

(Rentz, 2015). It is argued that more research is required in order to gain a

clearer understanding of the work values of Generation Y employees in

specific contexts (Lyons and Kuron, 2014; Kultalahti and Viitala, 2015; Rentz,

2015). As discussed in the above review, a context with particular relevance is

the Accounting industry. The challenges of attracting, retaining and

understanding Generation Y Accountants have led to requests for a study in

this area (Caglio and Cameran, 2017).

24
3.0 Methodology

3.1 Introduction

This chapter outlines the methodology used to address the research

objectives and questions of the study. This will cover the philosophical stance

taken and how this informed the strategy, methods and procedures chosen.

Details of the sample will be discussed, including how access was gained. An

overview of the data analysis procedure will be given, including the reasons for

using this method. Finally, ethical considerations required for undertaking

research will be outlined.

3.2 Research Objectives

Considering the gaps in existing literature, the current study addressed the

following research objectives:

1) To understand the aspects of work valued by Generation Y employees

in the Accounting industry

2) To understand the impact of these values on individual outcomes

25
3.3 Research Questions

To meet the aims and objectives of this study, the following research questions

were addressed:

1) What are the work values of Generation Y employees in the Accounting

industry?

2) What impact do these values have on the individual outcomes of

employees?

3.4 Philosophical Stance

The philosophical framework that guides this study is interpretivist. This

reflects the view that social reality is subjective; therefore individuals cannot be

separated from the social contexts they exist in (Burrell and Morgan, 1979;

Wahyuni, 2012). Therefore, interpretivism involves adopting an empathetic

stance in order to explore the meaning behind complex phenomena (Saunders

et al, 2012). Due to the complexity and uniqueness of organisations, it is

argued an interpretivist perspective is highly appropriate in organisational

behaviour research (Saunders et al, 2012). In line with this, the study takes an

inductive and exploratory approach, to develop new insights and build theory,

26
rather than test hypotheses (Collis and Hussey, 2014). An exploratory nature

is also necessary due to the absence of previous research in the area of study

(Collis and Hussey, 2014), as evidenced in the literature review.

3.5 Research Design

3.5.1 Qualitative Research

In accordance with the ontological and epistemological stance of the study,

a qualitative methodology was adopted (Stake, 2010). This also adheres to

requests for greater qualitative understanding in generational research (Urick,

2012; Foster, 2013; Lyons and Kuron, 2014), as most past research has been

quantitative (Kultalahti and Viitala, 2015). Qualitative research is most

appropriate for this study due to its ability to gain a more in-depth

understanding of Generation Y, which would not be possible through

quantitative methods (Flick, 2009). Qualitative research emphasises the values

and experiences of individuals, with careful consideration of context (Johns,

2001; Stake, 2010), therefore highlighting the appropriateness of this method.

3.5.2 Case Study

A single case study of Generation Y Accountants was chosen in order to

explore the research aims of the study. A single case study is believed to be

highly appropriate for the in-depth exploration of a case (Stake, 1995). It is

argued that a case study design is also beneficial where context should be

27
considered (Baxter and Jack, 2008). This is therefore appropriate for

considering the work values of Generation Y in the specific context of the

Accounting industry.

3.5.3 Interviews

In line with the exploratory nature of the study, semi-structured interviews

were used (Saunders et al, 2012). This allowed for increased flexibility, with

scope for additional questioning to obtain a deeper exploration of the research

topic (Collis and Hussey, 2014). This structure also allowed for the use of

probing questions, which were necessary to develop richer, more detailed

responses regarding the meaning behind particular work values (Saunders et

al, 2012). Consideration was given to the potential interview biases highlighted

by Rosenthal (1966), ensuring tone and non-verbal behaviour was consistent

(Collis and Hussey, 2014).

A total of fourteen interviews were conducted, each lasting between thirty

minutes and one hour. The interview schedule (Appendix 2) comprised

questions surrounding Generation Y’s work values and the impact of these, in

accordance with the research objectives and questions. Prior to the study, a

pilot interview was carried out on a University of Leeds student who was not

part of the research sample. This was necessary to ensure the questions were

easily understood and could be answered in enough detail within the given

time frame (Collis and Hussey, 2014). Amendments were made accordingly.

The interviews were conducted face-to-face to allow non-verbal behaviour to

be observed (Cooper and Schindler, 2014), providing additional insight into

28
how respondents expressed their work values. A quiet room within the office of

interviewees was chosen, to ensure a comfortable, distraction-free atmosphere

(Easterby-Smith et al, 2015). Time was taken before each interview to

introduce the study, explain the purpose and begin building rapport. Building

rapport was essential due to the nature of values research, requiring

interviewees to feel comfortable in revealing personal information (Collis and

Hussey, 2014). Each interview began by using classification questions to

collect background information on each participant, such as their age and job

title. Having the interviewee answer easy questions of this nature is said to

increase their confidence and help to build rapport (Collis and Hussey, 2014).

Open questions then followed for a more in-depth exploration of the values of

each participant (Maylor and Blackmon, 2005).

The interviews were recorded using a pre-tested voice recorder, to aid the

listening process and provide an unbiased recording for later analysis

(Easterby-Smith et al, 2015). Notes were also taken to aid the development of

probing questions and to record thoughts and behaviour not captured by the

recording device (Maylor and Blackmon, 2005). The suggestion that note

taking alerts interviewees of the importance of their response also gave reason

for this approach (Saunders et al, 2012).

3.6 Access and Sample

An opportunist approach was taken, using personal contacts to gain access

to participants (Saunders, 2012), with emails sent to confirm participation

(Appendix 3). A total of 14 Generation Y employees from the Accounting

29
industry formed the sample. This sample size allowed the point of data

saturation to be reached, where subsequent interviews did not yield any newly

emerging findings. Participants were obtained from two small and two

multinational Accounting firms based in the UK. Five participants were

interviewed from each of the small firms and two from each of the large firms.

The ages of participants ranged from the lower to upper boundary of the

generation, allowing the full age span to be explored. The sample included

both males and females of various ethnicities, allowing for analysis of the intra-

generational differences discussed in the literature review.

Non-probability sampling was chosen, which is argued to be effective for

exploratory research, in order to gain new insights into phenomena (Saunders,

2012). More specifically, convenience sampling was used, meaning

participants were selected based on their availability (Royer and Zarlowski,

2001). This was due to the limited number of Generation Y employees working

in each organisation. A limitation of this approach concerns the existence of

biases with respect to the population as a whole (Jankowicz, 2005). However,

as the sample chosen met the purposive sample selection criteria relevant to

addressing the research aim, this limitation was minimised (Saunders et al,

2012). The case organisations were chosen due to convenience of access,

however their representation of a ‘typical case’ in this industry meant

justification of their relevance in addressing the research aim (Saunders et al,

2012).

3.7 Data Analysis

30
 Prior to analysis, the data was transcribed and checked against the raw

recordings to reduce possible errors (Maylor and Blackmon, 2005). The layout

of each transcript included double-spacing, wide margins and numbered lines

to facilitate ease of analysis (King, 2012).

A thematic approach, specifically template analysis, was taken in order to

analyse the data (King, 2012). Template analysis was chosen due to its

structured yet flexible nature, allowing in-depth analysis whilst tailoring the

process to the needs of the study (Brooks et al, 2015). In accordance with the

exploratory nature of the study, an inductive, bottom up approach to analysis

was taken, meaning no a priori themes were identified (Braun and Clarke,

2006). Instead, themes were developed through identification of recurrent and

distinctive features in the data (King, 2012), fulfilling the purpose of gaining

new insights into Generation Y. In line with the suggestions of King (2012), the

process was carried out as follows. An initial template was drafted based on a

subset of the data, with preliminary codes applied to sections of the transcripts.

Hierarchical coding was used to organise and cluster the data, producing

higher order themes to allow analysis at varying levels. The initial template

was used as part of an iterative process, analysing the subsequent transcripts

whilst continually modifying the template by inserting, deleting and merging

themes. The template was finalised and applied to the full data set, ensuring

all data relating to the research aim could be coded. It was presented in table

format, using a numbering system to show the varying levels of themes

(Appendix 5). Key themes were identified with care, ensuring the boundaries of

each theme were distinct (King, 2012).

31
3.8 Research Ethics

Research demands ethical behaviour to consider the possible effects on

participants and ensure the welfare of all parties involved (Holt, 2012).

Therefore, careful consideration was taken to comply with the Leeds University

Ethical Code of Practice. In accordance with Bell and Bryman’s (2007) ethical

principles, participants were sent a summary of the research aims and

procedures prior to the interview, as well as a consent form (Appendix 4). At

the start of each interview, respondents were reminded that data would be

kept confidential (Bell and Bryman, 2007). Anonymity was ensured to protect

each individual’s identity (Collis and Hussey, 2014). Respondents were also

reminded of their rights to privacy, allowing them to withdraw or refrain from

answering at any time (Cooper and Schindler, 2001). Permission was granted

to use the recording device, reassuring respondents that recordings would be

erased immediately after transcription. It was acknowledged that the presence

of a recording device could cause hesitation in response to sensitive questions

(Ghauri and Gronhaug, 2002), however this was overcome by allowing

interviewees to pause the device when needed (Collis and Hussey, 2014).

32
4.0 Data Analysis

4.1 Introduction

This chapter will present the research findings, to address the aims of the

study. This will include in depth data analysis, based on the template analysis

in Appendix 5. Findings will be structured in two sections, presenting results to

address each of the research questions. Further quotes to support each theme

identified in the analysis can be found in Appendix 6.

4.2 Generation Y Work Values in the Accounting Industry

4.2.1 Extrinsic Values

A prominent finding was the importance placed on extrinsic values,

specifically salary and career progression. Nearly all participants highlighted

salary as their main work value. This is evidenced by “Salary is absolutely

important, you ultimately go to work to earn money” (INT 4) and “Isn’t that why

everybody goes to work? I’d definitely say salary is my main value” (INT 14).

When analysing this in greater depth, it was evident salary is prioritised due to

the effort required to become a qualified Accountant, and so it is seen as a

deserved reward. This is evidenced by “When you’ve worked so hard for a

qualification and it’s a very difficult qualification, you want to be rewarded for

that” (INT 10) and “I’ve worked hard, completed my Accounting qualifications,

so I want to receive and make the most of that” (INT 4). However, findings also

33
yielded a less frequent yet significant exception to Generation Y’s focus on

salary. For example, in a certain case salary was not valued due to religious

background. This is evidenced by;

Salary is not important to me. It’s irrelevant. It comes down to my

background and my religion. In my religion it says I should seek

knowledge not money, and that’s what I live by (INT 7).

In addition, career progression was found to be an important work value. For

example, “Progression in general is important to me, the faster the better” (INT

6) and “I want to work towards a better position…I’d say progression is my

number one value” (INT 8). Findings also suggested progression is valued due

to the increase in financial returns that accompany it. This is supported by

“Career progression is my highest priority right now because I’m young, I have

the opportunity to progress quickly which is hopefully when the salary would

increase” (INT 1), and “I want to build my way up really, the salary is important”

(INT 13). The link between career progression and salary was further explored,

with the opportunity to progress considered more important than salary when

starting a career in the Accounting industry. This is evidenced by “I didn’t want

to take a job where you had a higher salary at the start but progression

wouldn’t be as high” (INT 1) and “I had an offer from another firm but the

career progression there wouldn’t have been as good, so even though the

salary was better there, I chose to work here” (INT 6). However, findings also

suggested career progression became less important once a senior position

34
had been obtained. For example, “I’ve kind of made it to the top of the game

really, there’s no more progression I can get” (INT 11).

4.2.2 Intrinsic Values

The value placed on intrinsic aspects was evidenced frequently in the

research findings. Firstly, although salary was deemed the most important

value in multiple cases, the need to enjoy the job itself was considered equally

important. For example, “The number one value is the combination of enjoying

the job and salary, because if I didn’t enjoy the job, I wouldn’t be able to stay at

it” (INT 13) and “If it was just the salary and I didn’t enjoy the job…I just

wouldn’t be doing it” (INT 14).

Additionally, the opportunity to learn and develop was consistently

emphasised as an important work value. This linked to the qualifications

required to become an Accountant, as well as the desire to progress.

This was evidenced by “Without training I wouldn’t feel like I could do my job,

it’s very important that a company I work for gives me access to training” (INT

2) and “It’s constant learning for about 4 years in terms of examinations…I

enjoy it as it means that I can learn more, advance my skills and then get a

pay rise” (INT 5).

Furthermore, multiple participants stated their value of having a variety of

work. For example, “I wouldn’t want to be in a repetitive role doing the same

thing over and over, variety is important to me” (INT 7). A common reason for

this linked to the importance of personal development, with variety seen as a

way to promote skill development. This is evidenced by “I enjoy the variety of

35
work … which also means I increase my skill set which is really important” (INT

2) and “Variety is the main thing that’s really important, variety and as well as

for my development” (INT 9).

Another intrinsic aspect valued by nearly all participants was having

responsibility at work. When analysing the reasons behind this, associated

feelings of value were commonly stated. For example, “Having responsibility is

important…I feel accomplished and that my manager values me” (INT 7) and

“You feel more trusted and valued…if you’ve got no responsibility you almost

feel as though a monkey could do your job” (INT 13). An interesting finding

regarding responsibility was that there is an optimum level sought, with too

much responsibility having negative impacts. For example, “There’s obviously

a point of too much responsibility… If I had too much responsibility I’d feel

pressured and tense” (INT 5) and “Too much responsibility I think would be

quite stressful” (INT 14).

4.2.3 Leisure Values

A work value with high importance for all participants was having a work life

balance. One of the most prominent reasons for this is to prevent burnout. This

is evidenced by “If I just worked and worked I would just burn myself out, there

has to be a balance” (INT 7). Additionally;

If you just work 14-hour days and don’t enjoy yourself then you’ll

burnout at some point, the whole point in being here is that you can

spend time away from it and enjoy yourself (INT 11).

36
The negative impacts of having no work life balance also resonated throughout

responses with references to stress and poor health. For example “I don’t want

my whole life to be work, I need a balance to be healthy” (INT 2) and “I’d be

really depressed. It’s just so important to have a work life balance” (INT 14).

When exploring the concept in greater depth, it was apparent that external

factors contributed to the need for a balance. For example, participants

frequently mentioned watching their parents with little balance, which

contributed to their desire for this. This is evidenced by “I wouldn’t want to be

in the position that my dad is with no work life balance” (INT 5) and “My dad

worked long hours, didn’t get to spend much time with his family so it would be

nice when I do have a family to be able to be more flexible” (INT 11).

Participants commonly referred to world events shaping their value of a

balance, with the notion that there is more to life than work continuing to

emerge. For example, “In this day and age you do see things and hear of

things that make you think there’s more to life than work” (INT 14) and “Things

like terrorism and what’s happening in the world now…that makes you realise

what’s important” (INT 2).

In addition, a significant finding regarding work life balance was the

willingness of Generation Y to sacrifice this balance early in their career in

order to benefit in the future. This is evidenced by “At the moment my job is

more important to me… I’m willing to have limited free time now because I

know I’m working towards it in the future” (INT 6) and “I would sacrifice my

time a little bit at this stage in my career, so I can build my way up” INT (13).

37
4.2.4 Social Values

Research findings clearly indicated the importance of social aspects of work.

In particular, socialising and building relationships with colleagues was

frequently highlighted. For example, “I’ve got to be talking to people or be

around people…I like building friendships at work” (INT 14). Social interaction

was also linked to positive outcomes such as enjoyment and motivation. This

is evidenced by “I wouldn’t be motivated to go to work if I didn’t have good

relationships with my colleagues” (INT 8) and “It’s about the enjoyment at

work, getting to work with people that I get along with… this brings out the best

in me and drives me” (INT 2). Working with people and teamwork were also

considered important, with team member support emerging as the reason

behind this value. This is evidenced by “Working as a team is good as I can

watch others and learn from them” (INT 5) and “I work as part of a small team

and enjoy that, it’s nice to get support” (INT 12).

However, an alternative motive emerged for why Generation Y value social

interaction. This was the concept of socialising for personal gain and was

indicated by several participants. For example “Socialising is important

because of being able to get your foot in the door and get opportunities” (INT

2). Additionally;

Attending the work socials is really just to progress myself and

identify opportunities of where there might be things I can get

involved with or things to aid my career progression (INT 3).

38
 Furthermore, participants commonly referred to social values in terms of

altruism, with the desire to give back and make a difference frequently

mentioned. For example, “I value the chance to be able to give back, if every

business contributed to a good cause…I’m sure they’d make a big difference”

(INT 7). Additionally;

CSR is definitely important to me… it definitely reflects well on a

firm to have these opportunities, and would make me more likely to

work for a firm if I knew they were involved with helping out the

community (INT 3).

However, some cases suggested Generation Y did not value altruism, with

participants emphasising a focus on themselves rather than others. This is

evidenced by “It sounds bad but I’m not really bothered, I think everyone has

their own problems” (INT 6) and “I think our generation, everything is everyone

for themselves, and I guess that’s how my mind set is” (INT 13).

4.2.5 Organisational Hierarchy

An unexpected finding was Generation Y’s preference of a flat

organisational structure. The participants valued minimal hierarchy, with the

ability to make decisions emerging as a key reason for this. This is evidenced

by “I prefer there to be a more flat structure where everybody is collective in

decision making, rather than I’ve said this because I’m top dog situation” (INT

39
9) and “I’d never go near corporates again in terms of they’re too controlling,

there’s too much bureaucracy, hierarchy structure is so strong and you can’t

make decisions” (INT 10).

4.3 The Impact of Work Values on Individual Outcomes

4.3.1 Importance of Work Values Fit

The importance Generation Y place on work values fit was clearly

evidenced. For example, “The values are so, so important…they weren’t

materialising when I was working for a company…I had to change that,

because it’s important to me” (INT 10) and “It’s important as work takes a large

percentage of your life, so if these conditions aren’t met it would impact my

whole life” (INT 1). This was further emphasised with reference to the

individual impacts of work values fit, such as satisfaction and motivation. For

example, “If you get what you want from a company it makes you feel valued,

it motivates you” (INT 13) and “It definitely motivates me, it’s easy to be

demotivated by not having those values” (INT 4). Clear benefits to the

organisation were also suggested in terms of productivity and organisational

commitment. For example, “It makes me want to contribute more to the

performance of the firm” (INT 1) and “It also gives me more of a willingness to

stay with my company, the fact that they are meeting the values…makes me

want to do more and work harder (INT 4).

4.3.2 Negative impacts

40
 Having confirmed the importance of work values fit, the impact of an

absence of fit was also explored. Several negative impacts emerged from the

findings with frequent references to stress, demotivation and lower

productivity. This is evidenced by “I’ve been in these circumstances before…I

was doing long days and was so stressed…I was less productive, less

motivated” (INT 10) and “I would feel very demotivated, it would be really hard

going to work with a team you don’t get along with, where my values aren’t

met” (INT 2). Feelings of undervalue were also expressed, for example, “It

would make me feel less valued, these factors being provided make you feel

like the firm is considering you” (INT 3) and “Demotivated is probably the main

one, and undervalued” (INT 13).

4.3.3 Action Taken

One of the most significant research findings concerned the action

Generation Y Accountants were prepared to take if their work values were not

met. All participants voiced their willingness to leave the company, with some

also suggesting a change in career. This is evidenced by “If my values weren’t

met then what would be the point in working here, I’d look for a different

career” (INT 7) and “I’d leave and find somewhere else to work, if it was the

extreme case then I’d leave the industry altogether” (INT 11). The case for this

was further strengthened by participants reflecting on past experiences leaving

firms due to the lack of work values fit. For example, “I started out working for

a large company and found my values weren’t met and I made the decision to

41
completely change and start my own practice” (INT 10) and “My first job I left

because I didn’t get the responsibility and also the salary that I wanted…I’ve

left a company for these reasons before and so I would do again” (INT 13).

42
5.0 Discussion

5.1 Introduction

This chapter will discuss the research findings, interpreting the meaning of

these in order to address the proposed research questions. The relationship

between these findings and previously explored literature will be examined, in

order to add value to and expand on current theory. Firstly, the work values

that emerged from the study will be discussed, followed by a consideration of

the impact of work values on individual outcomes.

5.2 Research Question 1

What are the work values of Generation Y employees in the Accounting

industry?

5.2.1 Extrinsic Work Values

The research findings clearly indicated the importance of extrinsic aspects

of work. The majority of participants considered salary a main work value, thus

supporting the findings of both Twenge and Kasser (2013) and Krahn and

Galambos (2014). However, unlike those previous studies, the qualitative

nature of the study allowed further exploration into the reasons why salary is

so valued. The hard work required when becoming an Accountant in terms of

studying and examinations means salary is seen as a reward to justify this

43
effort. Given the emerging reasons behind this value are specific to the

Accounting profession, may suggest context has impacted this. This may

explain why studies of Generation Y in other contexts, such as Weyland

(2011), have found opposing results in terms of the value of salary. The impact

of context was also highlighted by an exceptional case, where salary was

regarded unimportant due to the participant’s religious background. This links

to the findings of both Kultalahti and Viitala (2015) and Papavasileiou and

Lyons (2015), which suggest the importance of cultural context when

considering the work values of Generation Y.

Additionally, career progression was considered highly important. Though

not one of the main values reflected in existing literature, some studies have

proposed the urgency in which Generation Y desire to progress (Ng et al,

2010). This urgency was reflected in the research findings with frequent

references to progressing as quickly as possible. The importance placed on

this value therefore represents an interesting addition to current theory. Given

that progression was also considered more important than salary when starting

an Accounting career, further emphasises the relevance of this finding.

However, when exploring progression in more depth, the corresponding

increase in salary gave reason for this value, further confirming Generation Y’s

desire to be highly paid. An interesting finding concerned the reduced

importance of this value once progression had been achieved. As many

Generation Y employees are currently at the bottom of the organisational

hierarchy (Wong et al, 2008), their desire to progress may be as a result of

career stage, suggesting support for critics in that generational forces do not

shape work values (Appelbaum et al, 2005; Johnson and Lopes, 2008).

44
However, as progression was still valued until a high position had been

achieved, generational forces may in fact impact work values, but the

perceived importance of these values may change over time. This conclusion

mirrors that of Sturges and Guest (2004), who found the importance of certain

values, such as work life balance, were less important for young professionals

in the short term, but expected to be more significant later in their careers.

5.2.2 Intrinsic Work Values

The importance of intrinsic values was clearly evidenced, thus supporting

existing literature (Martin, 2005; Dries et al 2008; Solnet and Hood, 2008;

Cooman and Dries, 2012). However, unlike some previous studies, the

research findings allowed an exploration into specific intrinsic aspects valued

by Generation Y and the reasons behind these. Of particular significance was

the need to enjoy the job itself, with participants considering enjoyment equally

important to salary. Responses implied that enjoyment was so critical that

salary alone would not result in employee retention. This therefore questions

existing suggestions that Generation Y employees are largely materialistic

(Twenge and Kasser, 2013).

The participants’ value of learning and development mirrors existing

suggestions that Generation Y desire personal growth (Kilber et al, 2014).

However, when analysing the underlying reasons for this, it was evidently due

to the nature of Accounting and the need to learn in order to obtain

qualifications. Therefore, suggesting support for the notion that work values

are shaped by specific industry contexts (Deal et al, 2010; Real et al, 2010).

45
Linking to this was Generation Y’s value of having a variety of work, which

reinforced the findings of Terjesen et al (2007). When exploring the reasons

behind this value, it was clear that completing a variety of tasks was seen as a

way to enhance skill development. Therefore further emphasising the value of

learning and development.

An interesting finding concerned Generation Y’s value of responsibility.

Although this did not stand out as a main value when reviewing existing

literature, studies have suggested Generation Y desire responsibility at work

(Martin, 2005; Wong et al, 2008; Weyland, 2011). When exploring this further,

it was evident that the need for responsibility was associated with participants’

desire to feel valued. The need to be valued by superiors has also been

referred to in additional research surrounding the traits of Generation Y (Rentz,

2015). Generation Y have been termed the ‘Trophy Generation’, denoting their

need for recognition and praise (Kilber et al, 2014). These findings may

therefore reinforce this title, with obtaining responsibility seen as recognition of

their good performance. It was also noteworthy how findings reinforced

existing literature suggesting a U-shaped relationship between the provision of

valued aspects of work and satisfaction (Warr, 1987; Taris and Feji, 2001).

Participants stated responsibility has an optimum level, with too much leading

to negative outcomes such as stress and tension. This therefore suggests that

the simple provision of work values may not result in satisfaction, rather the

extent of such aspects provided should also be considered.

It is also important to note that overall findings did not correspond with those

of Terjesen et al (2007), Cooman and Dries (2012) and Ng et al (2010), in that

women place higher importance on intrinsic values than men. Considering how

46
the Accounting context appears to have shaped some work values, it may be

logical that gender differences have not been found. Given that the

aforementioned studies were of Generation Y students and did not focus on

specific industry contexts, further suggests the logic of this conclusion.

5.2.3 Work Life Balance

The research findings largely supported existing literature regarding the

importance of work life balance for Generation Y (Cogin, 2012; Queiri et al,

2014). The fact all participants regarded this a key work value reinforces the

findings of both Smith (2010) and Grobelna and Tokarz-Kocik (2016).

However, the results of the study draw greater focus to potential impacts if this

value is not met. Frequent references to burnout, stress and poor health in the

absence of a work life balance further emphasise the significance of this value.

When drawing on additional literature, it is evident that the relationship

between a poor work life balance and these negative outcomes has been

frequently established (Peeters et al, 2005; Kanwar et al, 2009). Given that

stress and burnout have been linked to increased turnover, reduced

productivity and lower organisational commitment (Hobson et al, 2001; Ongori

and Agolla, 2008), it is evident that organisations may benefit from considering

this value.

Additionally, the external factors underlying participants’ desire for a work

life balance neatly correspond to those suggested in existing literature. It is

evident that watching their parents with little balance has impacted Generation

Y’s subsequent value of this, thus mirroring the suggestion of Crampton and

47
Hodge (2009). References made to factors such as terrorism also match the

suggestions of Ng et al (2010), in that witnessing global traumas has led

Generation Y to re-evaluate what is important in life and maintain a balance.

The presence of similarities in how external factors have impacted the values

of Generation Y also suggests support for the generational perspective in

general. Recalling the notion that “shared experiences mean that members of

a generation develop a common set of values and exhibit similar responses to

the environment (Solnet et al, 2012)”, it may be logical to assume that these

findings are representative of this.

Furthermore, it was particularly interesting that the research findings were

largely consistent with Broadbridge et al (2007), in that the Generation Y

Accountants were willing to sacrifice their work life balance at the start of their

careers in order to benefit in the future. While participants were willing to give

up a balance in the short-term, they still considered this an important value,

thus opposing Twenge et al’s (2010) view that a work life balance is less

significant to Generation Y. These findings are less surprising when

considering Generation Y’s value of career progression, as reflected in the

research findings, with references to sacrificing a balance in order to progress.

5.2.4 Social Values

In terms of social values, findings largely supported existing literature,

reflecting the importance Generation Y place on socialising at work (Cennamo

and Gardner, 2008; Weyland, 2011; Solnet et al, 2012). The need to build

relationships and work with colleagues is consistent with the findings of Wong

48
et al (2008). References to enjoyment and motivation resulting from

socialisation emphasise the importance of considering these values. When

exploring social values in more depth, it was evident that Generation Y

Accountants value teamwork due to the support they receive from co-workers.

Given the previously discussed focus on learning and development, it is not

surprising that support is also valued, which may also reflect the challenging

nature of Accounting as a profession. Therefore, suggesting that industry

context may underlie this value.

Additionally, it was particularly interesting how the findings reinforced those

of both Wong et al (2008) and Chen and Choi, 2008), in terms of Generation Y

socialising for personal gain. Underlying motives for socialising, such as to

provide exposure to new opportunities and to make contacts to aid

progression, were clearly evident. These results also further emphasise the

importance Generation Y place on career progression and ultimately salary.

Overall, the findings provide some clarity in that social aspects are valued,

hence addressing the ambiguity suggested by Twenge et al (2010). However,

as shown, there may be differing motives behind these values and so

identifying a potential area for further research.

The study also indicated some support for suggestions that Generation Y

value altruism in the workplace (Eisner, 2005; Lieber, 2010). According to both

Glass (2007) and Needleman (2008), Generation Y wants to make a difference

to the world and expect their employers to act responsibly. This was clearly

evidenced in the study, with indications that social responsibility is a deciding

factor when determining where to obtain employment. However, for this value,

results were less consistent throughout the sample. In line with Leveson and

49
Joiner (2014), Ng et al (2010) and Twenge et al (2010), the study showed a

different side to Generation Y, where social responsibility was considered

unimportant. The inconsistency in both extant literature and the present

findings indicates these values may be individual to a person. This is also

reflected in pro-social orientation literature, with individual traits, personality

and educational level considered as determinants of altruistic behaviour (Brief

and Motowildo, 1986). Therefore, suggesting generational forces may not

shape all work values.

5.2.5 Organisational Hierarchy

An unexpected finding was Generation Y’s desire for a flat organisational

structure. The study showed how bureaucracy and hierarchy were viewed in a

negative light, suggesting that Generation Y want to be connected with all

levels of employees and to be able to make decisions. Research has

suggested an emerging change in organisational structure, with frequent

references to the flattening of hierarchies (Powell, 2002; Rajan and Wulf,

2006). However, in the context of Generation Y, this is not well explored.

Hershatter and Epstein (2010) briefly mention Generation Y’s expectation of a

flat hierarchy, but do not explore this in detail. Additionally, although Glass

(2007) suggested generational differences in perceptions of organisational

hierarchy, the perceptions of Generation Y were not specified. Given the

emerging structural changes and the findings of the study, this therefore

represents a valuable addition to current theory and an area for future

research.

50
5.3 Research Question 2

What impact do these values have on the individual outcomes of employees?

Both congruence theory (Nadler and Tushman, 1980) and the concept of

work values fit (Kristof-Brown et al, 2005) state the importance of meeting the

values of employees, in order to achieve positive organisational outcomes.

The results of the study showed clear support for this and allowed a further

exploration into these specific outcomes. In line with Taris and Feji (2001) and

Hegney et al (2006), the findings uncovered how work values fit would lead to

employee satisfaction. An expansion on this concerned the references made

to increased motivation and higher productivity, which mirror the suggestions

of Cogin (2012). Work values fit was also linked to the concept of feeling

valued, which again reinforces previous suggestions regarding Generation Y’s

need for recognition. The consistency of this theme throughout the findings

suggests an interesting addition to current theory. The impact of work values fit

was further emphasised when exploring the impact of an absence of fit.

Negative outcomes such as stress, demotivation and reduced productivity

were suggested, reinforcing the notion that organisations should consider

employees’ work values.

The impact of work values and whether organisations need to take action

has been questioned (Jorgensen, 2003). Perhaps the most significant finding

in addressing this, concerns the action participants were willing to take if their

values were not met at work. Frequent links to employee turnover have been

51
made in extant literature (Kristof, 1996; Elfenbein and O’Reilly, 2007; Chang et

al, 2008), and support for this was clearly evidenced in the study. It was found

that all participants would be willing to leave their organisation if their values

were not met. The unanimity of this finding indicates the severity of potential

consequences if Accounting organisations do not take action. The fact

participants also considered a career change emphasises this further,

particularly given the required effort to obtain their positions, as previously

discussed. It could be argued that these results are less surprising when

considering the current challenges faced by Accounting organisations in terms

of retaining Generation Y employees (Bloom and Myring, 2008; Lindquist,

2008; George and Wallio, 2017). These findings also link to additional

suggestions regarding the ease at which Generation Y are willing to move

organisations (Earle, 2003; Levitt and Wilson, 2008), providing a degree of

support for this viewpoint.

While findings corresponded to those of Takase et al (2008) and Van

Vianen et al (2007) in terms of increased turnover intention, the nature of the

study allowed a greater insight into the potential occurrence of actual turnover.

As participants were able to reflect on past experiences, it was uncovered in

multiple cases that previous employment, where work values were not met,

had resulted in actual turnover. Thus further indicating the significance of this

concept.

52
6.0 Conclusion

6.1 Overview of the Study

Given the challenges faced by organisations in attracting and retaining

Generation Y, particularly in the Accounting industry, the current study sought

to provide a deeper understanding into this unique cohort. Specifically, due to

the suggested importance of work values fit in extant literature, an exploration

into the work values of Generation Y and the effects of these on individual

outcomes was undertaken. A careful execution of the study meant the aims

and objectives were successfully met.

The consistency of participant responses allowed the key work values of

Generation Y Accountants to be identified. Specifically, the combined

importance of both extrinsic and intrinsic values was highlighted. It can be

concluded from responses that, although largely valued, salary is not always

enough to satisfy Generation Y. Enjoyment of work itself is required, which

may result from task variety, responsibility or teamwork opportunities. It is

apparent that Generation Y demands a lot from their work environment,

valuing the opportunity to socialise, maintaining a work life balance, and

preferring a flat organisational structure with minimal hierarchy. A clear focus

on learning and development signals their pursuit for personal growth, whilst

addressing the demands of a challenging Accounting career. Although not

consistently valued throughout the sample, the importance of social

responsibility is significant for a number of Generation Y Accountants.

53
 The study clearly evidenced the importance of work values fit. Where

organisations can meet the values of Generation Y, several positive outcomes

may arise, such as increased satisfaction, productivity and motivation.

However, an absence of such fit can have substantial negative consequences

in terms of stress, demotivation and reduced productivity. Arguably most

important is the potential effect on employee turnover. The study evidenced

clear intentions to leave if values are not met, with past examples of such

action further justifying these intentions.

Due to the explorative approach employed, a rich insight was gained,

allowing the underlying reasons behind important work values and their

impacts to be uncovered. This allowed for the contribution of both theoretical

and practical implications, as discussed below. By demonstrating the

limitations of the current study, opportunities for future research have been

identified.

6.2 Theoretical Implications

Having addressed demands for a qualitative study of Generation Y in a

specific context (Lyons and Kuron, 2014), significant contributions to current

theory have been provided. The consistency of findings throughout the sample

suggests the key work values of Generation Y Accountants have been

uncovered, and the ambiguity surrounding the impact of work values fit has

been addressed (Jorgensen, 2003). The unique nature of the study enabled

significant contributions to the existing debate as to whether work values are

universal to Generation Y, or if contextual factors have an impact. For

54
example, it was clear certain values had been shaped by the shared

experiences of the sample, thus offering support for the generational

perspective in general. However, for others, findings indicated how context had

impacted their importance. This suggests that generational forces may shape

some, but not all, values. Therefore, reinforcing suggestions that the assumed

core work values of Generation Y may not be universal across industry and

cultural contexts (Deal et al, 2010). The study also brought attention to certain

work values not previously assumed core to Generation Y, including the need

for progression, responsibility and a flat organisational structure. This provides

a foundation for further study and suggests the work values considered in

extant literature are not exhaustive.

6.3 Practical Implications

By uncovering the impact of work values on individual outcomes, the study

provides clear implications for practice, evidencing that Accounting

organisations should meet the work values of Generation Y. The following

recommendations concern the approaches that can be taken to appropriately

adapt to such values.

While findings largely support previous recommendations of using salary to

attract and retain Generation Y (Leveson and Joiner, 2014; Mencl and Lester,

2014), organisations need to understand that money alone will not be

sufficient. Accordingly, it is recommended that management should also

provide clear opportunities for progression, particularly as this was considered

more important than salary for Generation Y Accountants seeking

55
employment. Management could map out the career paths of individuals,

showing commitment in helping them to achieve these goals. Showing this

commitment may also fulfil Generation Y’s desire to feel valued. Entrusting

Generation Y Accountants with significant responsibility can also fulfil this

desire, showing recognition of their efforts and indicating the value of their

contribution. In line with Kilber et al (2014), micro-management should be

avoided, allowing employees to take full ownership of their tasks. However,

individual limits should be understood to avoid the over provision of

responsibility.

Organisations should not consider Generation Y homogeneous. As shown,

factors such as culture and religion can shape their values. However, where

industry context is thought to shape certain values, Accounting organisations

may particularly benefit from adapting to these. For example, due to the

challenging nature of the Accounting profession, management should provide

training and education, create communities of support, and ensure task variety

to encourage skill development.

Generation Y Accountants need to enjoy their work environment and

strongly believe there is more to life than work. In order to adapt to this,

organisations should meet these social needs by providing opportunities for

teamwork and collaboration. Simple adjustments to allow time for social

interaction may be beneficial, for example short instant messaging breaks (Ng

et al, 2010). Arguably the most important factor to consider is Generation Y’s

need for a work life balance. While Generation Y is willing to sacrifice a

balance in the short term, they must know that such benefits will eventually be

realised. In light of this, organisations could introduce flexible working perks for

56
employees that reach managerial status. Alternatively, knowing that

Generation Y are willing to commit more of their time to work, organisations

could seek to incorporate leisure into their work environment. As companies

such as Google have done (Ng et al, 2010), Accounting firms could provide

onsite leisure facilities such as games rooms or gyms in order to combine work

and leisure. Lastly, management should consider Generation Y’s value of a flat

organisational structure. Changes can be made to reduce employee

perceptions of a strong hierarchy, such as promoting bottom-up decision

making, and de-layering to reduce the felt power distance between employees

and management.

6.4 Limitations and Future Research Recommendations

One of the main limitations concerns the method used for data collection.

The use of self-report, in the form of interviews, meant participant responses

were largely subjective (Spector, 1994). In terms of the current study, this

means Generation Y’s claims that they would leave an organisation that did

not meet their values, may not materialise in reality. The subjective nature of

responses may also limit the relevance of negative impacts, such as stress

and reduced productivity, which were associated with the absence of work

values fit. This could therefore reduce the significance of findings in terms of

the consequences organisations face if they do not conform to the values of

Generation Y. However, given the purpose of the study was to provide a

unique contribution by exploring the values of participants and the underlying

reasons and effects of these, this method was justified. Having established

57
these findings, future research should now seek to complement these, by

testing the proposed effects using objective quantitative measurements. For

example, actual turnover should be studied rather than perceived intent to

leave.

Although not a limitation per se, given that the purpose of qualitative

research is to gain a rich and detailed insight rather than achieve

generalizability (Flick, 2009), the research findings cannot be generalised to

reflect Generation Y in the Accounting industry as a whole. Although the point

of data saturation was reached, participants were selected from just four,

similarly located organisations and so an extended study may not yield

corresponding results. However, the consistency in research findings of this

limited sample does identify a clear base for further research to expand on and

test the proposed findings at more substantial levels. An expansion on the

current study should also overcome existing limitations in terms of the cross-

sectional nature of the research (Dencker et al, 2008). A longitudinal study of

Generation Y in the Accounting industry may be beneficial in clarifying whether

the identified values are core to the cohort or whether they will change over

time. Thus providing further indication of whether values form as a result of

generational forces, rather than age or career stage. A study of this nature will

be particularly important in justifying any changes organisations need to make

in order to adapt to Generation Y, as it will provide evidence for the long-term

benefit of such adaptations.

58
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8.0 Appendix

8.1 Participant Information (Appendix 1)

Key of Participants
Participant Gender Age Position
Level
INT 1 Female 21 Graduate
INT 2 Female 21 Graduate
INT 3 Female 25 Senior
INT 4 Male 36 Senior
INT 5 Male 20 Junior
INT 6 Male 21 Junior
INT 7 Male 19 Junior
INT 8 Male 19 Junior
INT 9 Male 25 Senior
INT 10 Female 32 Managing
Director
INT 11 Male 36 Partner
INT 12 Female 22 Junior
INT 13 Male 21 Junior
INT 14 Female 30 Manager

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8.2 Interview Schedule (Appendix 2)

Name of participant:

Age of participant:

Job title:

1. What do you enjoy most about your work?

- How does this affect you at work?
- Why do you enjoy these aspects the most?
- How would you feel if these aspects were not present in your work?
- What about X?

2. Which aspects of work did you consider when applying to jobs in the
Accounting industry?

3. Do you feel that your work values are met in your current job role?

4. How are these values met? If they are not met, what are the reasons for
this?

5. Is it important that these values are met and if so, why?

6. If these values were not met, how would you feel?

7. Would you take any action regarding whether the values are met or not?

72
8.3. Email to Participants (Appendix 3)

Hi (Name),

Thank you again for agreeing to participate in the study I am conducting for my
final year dissertation. Please see below some details regarding your
participation.

The interview will be based around the topic of Generation Y in the Accounting
industry, specifically Generation Y’s work values and the impacts of these. The
background of the study surrounds the problem of an ageing workforce and
the need to understand the values of Generation Y Accountants in order to
attract, motivate and retain them. A more detailed explanation of the content to
be explored will be provided at the start of the interview.

The interview will last between 30 minutes and 1 hour, and findings will be kept
strictly confidential. The write up of my dissertation will not use either your
name or your company’s name and only my dissertation tutor and an external
examiner will view it. I am also happy to share my overall findings with you or
your company if you are interested.

Please contact me if you have any additional questions.

Thank you again and looking forward to meeting you,

73
8.4 Consent Form (Appendix 4)

Consent Form

This research is subject to ethical guidelines set out by the University of Leeds Research
Ethics Committee.

These guidelines include principles such as obtaining your informed consent before
research starts, notifying you of your right to withdraw, and protection of your anonymity.

Have you had the opportunity to ask questions and discuss the study to your satisfaction?

YES/NO

Do you understand that you are free to end the interview at any time or to choose not to
answer a question without giving a reason why?

YES/NO

Do you agree to take part in this study?

YES/NO

Do you grant permission for extracts from the interview, and any other data produced during
this interview to be used in reports of the research on the understanding that your anonymity
will be maintained?

YES/NO

SIGNED ………………………………………………………………...

NAME
(IN BLOCK LETTERS) ……………………………………………….

DATE …………………………………………………………

74
8.5 Template Analysis (Appendix 5)

Level 1 Themes Level 2 Themes Level 3 Themes

Social Values Working with people Working with similar

people

Team work

Interacting with
clients

Relationships with colleagues Friendships

Support

Managerial
relationships

Socialising at work Fun at work

Socialising for
personal gain

Networking

Altruistic Values CSR important Making a difference

Global Suffering

75
 Rewarding

CSR not important Look after self

Intrinsic Values Learning and Development Qualifications

Personal growth and

development

Provision of training

Religion

Changing
environment

Challenging work Mentally stimulating

Avoid boredom

Sense of
achievement

Responsibility Feeling valued

Pressure

Variety of work More interesting

Increased skill
development

Enjoyment of work Job content

Happiness

76
Extrinsic Values Salary important Reward for hard work

Support
family/dependants

Feel valued

Work to live

Salary not important Religion

Enjoyment prioritised

Short-term sacrifices

Career progression Salary increase

More responsibility

Power

Work to live Quality of life

Materialistic needs

Additional benefits Paid holiday

Expenses

Work life balance Work life balance important Family time

Prevent burnout

77
 Watched parents with
poor WLB

Prevent stress

More to life than work

Short term sacrifices Future benefits

Progression

Pressure on
graduates

Flexible working Home working

Flexible hours

Organisational Flat structure Level playing field

Hierarchy

Increased decision
making

External factors Upbringing/Childhood Education

Family

Participation in sports

World events Terrorism

Brexit

78
Value Congruence important Happiness
Congruence

Motivation

Organisational
commitment

Feel valued

Negative impacts Boredom

Lack of development

Stress

De-motivated

Less valued

Less productive

Depressed

Action taken Company turnover

Industry turnover

79
8.6 Supporting Quotes (Appendix 6)

Theme Research Finding Participant Additional

Supporting Quotes

Extrinsic Importance of INT 1 “I also enjoy the

Values salary salary because it
means you can live
off it well. Salary
would be 8.5/10 in
terms of importance
for me”
INT 3 “I would say the
financial benefits,
getting a salary, a
regular monthly
income… it’s
something I really
value, it’s a big part,
obviously I want to
get financially
rewarded for the job I
do”

INT 5 “Salary is the reason

I go to work,
obviously I want to
go to work to
progress my career
and have a better
future, but at the
moment I go to work
to earn money”

INT 8 “Salary would be the

most important, it
motivates me”
INT 11 “I think salary is
important, there’s no
point in coming into
work if you’re not
going to make any
money. I’m quite
motivated to earn as
much as I can”

INT 12 “The salary is

important to me, I

80
 don’t value it more
than my enjoyment
at work, but I think it
is an important
factor”

INT 13 “I think salary makes

you feel valued,
everything revolves
around money
doesn’t it, the more
money you have the
more powerful you
are, the more things
you can do”

INT 13 “The need to buy a

house, also
materialistic things
like buying a new
car, nice watches,
funding my social
life, so all these
make me want to
work more so I can
afford them, which is
the main reason I go
to work, a work to
live sort of thing”

Career Progression INT 2 “Oh I 100% value

career progression,
career progression is
really important,
especially in the
Accounting industry”
INT 3 “I think it’s important
to know where you’re
heading I guess and
if there’s a clear
career progression
outlined, especially
working in a bigger
firm, you know each
year that you’re
going to progress”

Progression for INT 5 “I definitely value

increased financial career progression

81
 returns For a better quality of
life for myself and my
family in the future,
in this profession you
can earn a lot of
money”
INT 9 “Yes, I think that’s
very important, I
think that links well
into the salary,
because in most
cases now
progression goes
alongside a higher
salary”

INT 10 “So I’m always

looking to look
ahead, grow and go
the next step in
terms of progression.
Obviously there’s a
financial reward with
progression”

Intrinsic Enjoyment of work INT 7 “I think it’s very

Values important to enjoy
what you do, some
people just work for
money but you need
to enjoy your work to
be able to enjoy life,
it’s about my long
term happiness”

INT 10 “I actually took a pay

cut to set up my own
business…I wasn’t
getting that regular
financial reward,
which was an
important value for
me, but I enjoy my
job so much… I think
for me, and this
comes through the
very top of my
priority, it’s being
happy”

82
Learning and INT 1 “I like how there’s a
development lot of opportunity to
grow and to learn,
you always feel like
you’re developing
and learning
something”

INT 3 “I think it’s important

to be trained up as
an individual and see
the firm investing
time and resources
into you”

INT 4 “I’m always looking

to develop myself
and learn new
things”

INT 7 “If I wasn’t learning

I’d be bored, I’d feel
like I didn’t have
purpose

INT 9 “You need it these

days, I suppose in
terms of
development nobody
comes in and thinks
they know it all, so
you’ve kind of got to
develop and hone
your skills”

INT 10 “I will never stop

learning and I’ll
never stop
developing myself,
I’ll always continue”

INT 11 “I wouldn’t like the

83
 thought of leaving
university and that’s
your job, you need to
learn new things and
progress and learn
as much as you can”

INT 12 “I enjoy learning new

things and it makes
my job easier
knowing how to get
things done”

INT 13 “It’s important to me

yes, just because I
wouldn’t want to stay
at the same role and
knowledge base
forever as it would
get repetitive, but I
always like pushing
myself and
developing”

Variety of work INT 5 “The variety has

definitely made me a
lot more happy. I
was also more driven
to explore different
areas of accounting
and this drove me to
work harder”

INT 4 “I think partly the

variety, so I work
across finance and
payroll so I get to
work internally
across both areas,
so there’s a lot of
variety”

INT 8 “I like the variety at

work and that the
work is interesting,
otherwise I wouldn’t
be motivated”

84
 Responsibility INT 1 “I’ve worked in banks
before and the
responsibility I have
with this job
compared to others
is a lot more and I
think that’s really
important”

INT 3 “I personally enjoy

having that
responsibility, I
guess it makes you
feel like you’re
working towards
helping to build other
people up as well, I
think that’s an
important aspect”

INT 5 “I’m happy that the

company has given
me this
responsibility, it’s
something I didn’t
get at the last place I
worked, which drove
me to leave in part”

INT 12 “I like getting on with

things and having my
own responsibility”

Leisure Importance of work INT 1 “I really value work-

Values life balance life balance and I
think especially after
you’ve come out of
university and
education, work life
balance is really
important”

INT 2 “Work life balance is

very important to me
because you need to

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 be able to switch off
from work”

INT 5 “A work life balance

is definitely
important, I don’t
want to be going
home at night and
thinking about work”

INT 8 “I’d say work life

balance is important,
so I’m not just
constantly working, I
need to have a social
life and not think
about work all the
time”

INT 9 “Yes 100% it’s

important, I think if
you decide to
immerse yourself in
work for 12 hours a
day, then it will just
become boring”

INT 10 “You start to re-

evaluate the
importance of life,
and it’s not just about
money and success,
it’s about how your
job impacts your life”

INT 14 “Oh yes that’s very

important, when I
finish work at 5 I
completely switch off
from work at that
point”

Work life balance – INT 4 “Whilst you do work

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burnout to earn money to
live, it’s also
important to have
some balance
because without that
you’d end up burning
yourself out”

Work life balance – INT 8 “If I didn’t have a

stress balance I’d be bored,
I wouldn’t know what
to do with myself. I’d
be stressed at work”

Work life balance – INT 1 “I would take a lower

initial sacrifice cut now so that in the
future I have these
benefits”

INT 4 “Even now quite

often I’m working late
at home, just to
make sure I keep up
with the work but I’m
happy to do that in
order to do well in
my job”

INT 5 “I definitely sacrificed

a work life balance
early on … but I
knew that I had to
sacrifice that to get
to my end goal”

INT 11 “Throughout my mid

to late 20s is when I
could really move up
the ladder in terms of
progression so I put
that first instead of
having a social life,
but I did that knowing
that once you get to
partner level you can
ease off and have
that balance”

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Social Values Socialising and INT 1 “Social interaction is
relationships with important to me. I
colleagues think it’s really
important to have
friends at work”

INT 5 “The social side of

work is important, it’s
important to have a
personal relationship
with all your
colleagues, it makes
your day easier”

INT 7 “I enjoy working with

people, for me if I
came to work where
the people weren’t
friendly and the
environment wasn’t
sociable then I
wouldn’t want to be
here”

INT 7 “I think building

relationships is
important, it’s the
same with clients,
you need to have a
bond, it makes me
enjoy my work more”

INT 12 “I enjoy social

aspects of work, I
think it makes work
enjoyable having
friends in the office
and having events
like office socials”

INT 11 “I enjoy being in the

office, seeing

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 everybody, we also
go out for social
lunches, meet other
professionals, so it’s
nice in terms of
social events”

INT 13 “I think work needs

some sort of social
interaction, like I said
I couldn’t just sit in
an office and not
speak to anyone all
day, Id be bored
really”

Working with INT 4 “I generally like

people/Teamwork working with people.
Being able to speak
to people and deal
with different people
constantly”

INT 2 “I really value being

able to work in a
team, building
relationships with
team members”

“I definitely value
INT 10 teamwork because I
think we’re all one
big team”

Teamwork – INT 1 “When we come

support together as a team
it’s really enjoyable,
there’s always
someone there to
help when I’m stuck
on my own work”

INT 6 “I like having a team

and to help my team
mates as well as

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 receive help from
them. Having
someone help and
support me is so
important”

INT 3 “It’s good to have the

input of others, to be
able to bounce ideas
off each other and
have that input”

INT 10 “Unless you’ve got

ideas off other
people, people think
differently, people
behave differently,
you can learn the
negatives and the
positives from team
work”

INT 6 “I like working in a

team because I want
to be part of
something, to feel
like I’m contributing”

Socialising for INT 10 “I’d say the social

personal gain aspect is tactical
networking really”

Altruistic Value altruism INT 5 “Personally, giving

Values back to the
community is
important to me…
From a business
point of view, I
started up a scheme
where we would
have charity events
in the office”

INT 9 “Yes, I think it’s

something I’d look
for in a job, and
that’s something that
links to how I like
going out to clients

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 and helping them”

INT 10 “I think it’s more my

desire to help, I think
giving something
back if you can, I’ve
always wanted to…
so to have that
incorporated in work
life would be great”

INT 11 “We do support

charities, it’s just a
nice thing to do isn’t
it, giving to people
that need it, I like
giving to local
charities where you
can see the benefits”

INT 14 “I definitely value

that. I think giving
back to the
community is
important”

Don’t value altruism INT 1 “I think it’s a good

cause and a great
thing to offer but it’s
not something that I
have got involved in,
I don’t see this as a
huge value
compared to others”

INT 2 “We have the option

to volunteer but it is
not important to me,
it’s not something
that I’d want to do”

Organisational Flat structure INT 2 “I get to work with

Hierarchy valued second years, third
years, more
experienced
employees and my
manager, it’s a really
level playing field

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 which I admire”

INT 7 “If I worked for a big

firm like Deloitte, I
probably would not
see my director, my
boss, I’d just see my
team, whereas in this
office you get to work
with everyone on all
levels daily, and
that’s what I enjoy”

INT 12 “I like that I’m able to

work with employees
in all levels of the
firm, like I have
regular contact with
the partners, and
that makes me feel
valued within the
company because I
can go straight to my
manager”

Work values Congruence INT 2 “I would say it’s very

fit important important.
Essentially it affects
my ultimate
happiness at work,
and I think that you
have to be happy at
work in what you do,
otherwise I won’t put
the hours in”

INT 3 “If I had a good

opportunity come up
elsewhere in a
different firm and it
didn’t meet those
factors, even if the
job itself seemed
appealing I don’t
think I’d want to
move, just because
all the other things
matter a lot more”

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 INT 14 “Yes it is (important),
it makes me a
happier person, I do
enjoy work a lot
more when all those
things are met”

Negative Stress INT 1 “I would feel very

impacts stressed and
unaware of what is
happening in terms
of my friendships
and social life”

INT 5 “I’d feel

uncomfortable and
anxious. I’d feel
stressed”

INT 11 “If you don’t feel like

you’ve made a
difference then you
wouldn’t feel as
fulfilled, you’d feel
stressed out about it”

INT 12 “I’d definitely feel

stressed, bored at
work”

Demotivation INT 9 “I’d be

demotivated…if the
best opportunities
aren’t available for
you to utilise then
you’re not going to
be that motivated
and interested in
what you’re doing”

INT 12 “I’d be demotivated,

it would affect my
mood, if I enjoy work
I’m generally happier
as a person”

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 Lower Productivity INT 3 “If you’re happy in
your job your more
efficient and
productivity goes up,
whereas if you’re
going to work
everyday and not
enjoying the benefits
you get then it would
dishearten me”

Less valued INT 12 “If I wasn’t

progressing I
wouldn’t feel valued
because no ones
investing in my
career and giving me
those opportunities”

Action taken Leave the company INT 1 “I think I’d want to

move and work
somewhere else”

INT 2 “I would consider

leaving and moving
to a company that
provides the aspects
of work that I value, I
would 100% do this”
INT 3 “I’d definitely start to
question whether I
want to stay where I
am in the firm”

INT 4 “I would certainly find

myself looking to do
something else. I
wouldn’t want to be
going to bed every
night thinking oh no
I’ve got to go to work
tomorrow”

INT 5 “I would definitely do

something about it
as I wouldn’t want to
be in that position, I’d
have to consider a
new job or even a

94
 new career”

INT 6 “I wouldn’t work for

the company,
especially if I couldn’t
progress. If my
values weren’t met I
would leave the
company”

INT 8 “If nothing changed

I’d consider leaving
the company”

INT 12 “I suppose I’d look

for another job where
they weren’t met”

INT 14 “If all those things

weren’t met and
they’re all important
to me, I just wouldn’t
be happy, I know I
wouldn’t, and I’d
have to find either
another job in
accounts or if it was
that they weren’t
going to be met in
accounts then
perhaps accounting
wouldn’t be for me”

95
8.7 Field Work Assessment Form (Appendix 7)

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