FAMILY BUSINESS OR NONE OF MY BUSINESS: FACTORS INFLUENCING THE EMPLOYER ATTRACTIVENESS OF FAMILY BUSINESSES FOR THE GENERATION Y
MCI Management Center Innsbruck (AUSTRIA)
About this paper:
Conference name: 14th International Conference on Education and New Learning Technologies
Dates: 4-6 July, 2022
Location: Palma, Spain
Abstract:Due to the increasing "war for talents", recruitment of qualified workers is key in the competitive business environment and of particular importance for small to mid-sized family businesses. Hauswald et al. (2016) show that family businesses are associated with certain values through their culture and are therefore a factor in the company selection of job seekers. On the one hand, companies that are managed by families are sometimes perceived as inflexible or not open to change. On the other hand, family influence is also associated with security and familiarity. As another factor potentially influencing employment relationships and perceptions of employers the different generations potential employees belong to are described. Different generations are shaped by different expectations and ideas regarding the employment relationship. In particular, Generation Y, some of whom are about to start their careers, differs fundamentally from the previous generations. Furthermore, this generation will be fully employed in the upcoming years. However, there is only little research addressing Generation Y and family businesses. The potential correlations between perceptions, values and the criteria for decision-making in favour for a specific employer are still not extensively studied. Therefore, knowledge of the values and perceptions of the generation and their impact on decision-making factors for entering the workforce is essential for employers. As a result of this research gap, this paper aims to identify reasons for choosing an employer in the setting of family businesses. Hypotheses, deductively derived from the literature, were used to evaluate differences and correlations within the Generation Y. Following an quantitative approach, an online survey was conducted among German-speaking members of the Generation Y. Perceptions and values influencing decision-making for potential employers were correlated with predefined attributes of family businesses. Besides the assessment of perceptions, the questionnaire aimed to measure values on the basis of the Portrait-Value-Questionnaire and decision-making behaviour using a discrete conjoint analysis.
From a total of 356 online questionnaires, 105 were answered, and 101 were finally enrolled in the study. Of the 14 hypotheses put forward, 8 could be rejected and 6 accepted. The evaluation did not reveal any significant connections between value groups of Generation Y and the predefined attributes "family influence", "development opportunities" and "salary". On the other hand, correlations between certain individual values and attributes were documented.
In this regard, a positive perception of the family brand did not correlate with an appreciation of family influence, but when the company size was perceived as attractive, family influence was estimated. In contrast to other research work, however, no heterogeneity within Generation Y could be detected by rejecting connections and differences.
Keywords: Employer Attractiveness, Generation Y, Familiy Businesses, Career Planning.