Factors Influencing Gen Y's Job Choice: A Pilot Study

Perceived financial stress and quality of life (QoL) have an impact a job seeker's decision. Few studies have incorporated this concept to understand how job seekers make their job choice along with perceived fit with the organization (PO Fit) and perceived fit with the job (PJ Fit). The purpose of this study is to assess college students' job choice decision based on financial stress and QoL perception with a work-family balance focus. This research employed an online survey with Qualtrics software to 33 students who were of junior or senior status. No incentives were used, and all participation was voluntary. The results showed that there was a relationship between the role of financial stress in students with loans and Gen Y's job choice when considering job offers based on the factors that students found to be more important. Students with student loans were significantly less likely to focus on the importance of PO Fit, and significantly more likely to rank salary as a more important aspect of job offers. When looking at the impact of QoL on the job choice, PJ Fit and PO Fit were more important than salary alone, with or without student loans. Students were reportedly more concerned with task management and task control when determining which type of job offer to accept. This is an important descriptive characteristic of Gen Y because it indicates their preferences for what they aspire to gain from their career when financial stress is not included in their decision.
This study provides implications for employers when they attempt to create the most appealing job offer packages for newly graduated students who are applying for positions in the Hospitality and Food Management field. These findings show the importance of the interaction between a potential employee's view of their financial stress and QoL, and their resulting desire level for PJ and PO Fit. The results will assist in developing better recruitment efforts to attract talent in the market, and help college graduates to better plan their career after graduation.