Reward preferences for generations in selected Information and Communication Technology companies

Orientation: Previous research suggests that different generations have different reward preferences based on differences in values, frames of reference and life goals.Research purpose: The focus of this study was to determine whether different generations prefer different rewards in the Information and Communication Technology (ICT) industry in South Africa.Motivation for the study: The rationale for this study was to obtain a better understanding of the reward preferences of Veterans, Baby Boomers, Generation X and Generation Y in the ICT industry.Research design, approach and method: The research was a quantitative, cross-sectional, correlational design. Participants from two ICT companies completed a structured electronic survey. One hundred and sixty four valid responses were received. A Cronbach’s alpha of 0.821 indicates that the survey was reliable.Main findings: Contrary to previous research, the results show that generations do not display different reward preferences.Practical/managerial implications: It would be more beneficial to use individual interrelationship factors to develop a reward strategy than generations.Contribution/value-add: The research has added insight and value to reward preferences for generations in the ICT sector.