Workers’ Happiness: An Analysis of the Value of Family and Work among Generational Cohorts

  • Charamporn Holumyong Institute for Population and Social Research, Mahidol University
  • Sureeporn Punpuing Institute for Population and Social Research, Mahidol University
Keywords: Happiness, work and family, work-life balance, job satisfaction, family satisfaction

Abstract

This study investigates the influences of job and family satisfaction on industrial workers’ happiness and observes the role of generational cohorts. The findings show the positive influence of job and family satisfaction on happiness for all generations. However, demographic diversity exists regarding how workers value their work and family lives. Applying utility theory, the level of marginal rate of substitution (MRS) of family satisfaction for job satisfaction is shown to differ by generational cohorts. Even though job and family satisfaction are abstract concepts which cannot be perfectly substituted by other things, differing MRS levels offer insights into how each generation values family and work. Compared to other generations, the value of work is relatively high for Generation X workers. On the other hand, this study suggests Generation Y workers place the highest value on family when compared to older generations.

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Published
2015-06-30
How to Cite
Holumyong, C., & Punpuing, S. (2015). Workers’ Happiness: An Analysis of the Value of Family and Work among Generational Cohorts. Social Science Asia, 1(4), 1-18. Retrieved from https://socialscienceasia.nrct.go.th/index.php/SSAsia/article/view/70
Section
Research Article