Purpose Generation Y (Gen Y) is the newest and largest generation entering the workforce. Gen Y may differ from previous generations in work‐related characteristics which may have recruitment and retention repercussions. Currently, limited theoretically‐based research exists regarding Gen Y's work expectations and goals in relation to undergraduate students and graduates. The aim of this paper is to attempt to address this gap in the research. Design/methodology/approach This study conducted a theoretically‐based investigation of the work expectations and goals of Generation Y and, in particular, student Gen Y versus working Gen Y individuals based within a framework incorporating both expectancy‐value and goal setting theories. n=398 provided useable data via an on‐line survey. Findings Overall, some support was found for predictions with career goals loading on a separate component to daily work expectations and significant differences between students and working Gen Y on career goals. No significant differences were found, however, between the two groups in daily work expectations. Research limitations/implications Future research studies may benefit from adopting a theoretical framework which assesses both daily work expectations and career goals. At a practical level, based on the findings, some examples are provided of the means by which organisations may draw upon daily work expectations and career goals of importance to Gen Y and, in doing so, influence the likelihood that a Gen Y individual will join and remain at their particular organisation. Originality/value This research has demonstrated the utility of adopting a sound theoretical framework in furthering understanding about the motivations which influence an organisations’ ability to recruit and retain Gen Y.
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