Management Control of Tomorrow – Expectations and preferences affecting business students ́ motivation and job satisfaction, and the consequences for management control

Abstract: The purpose is to investigate what the next generation of employees prefer and expect, to be satisfied and motivated at work. It should also be shown, what they prioritise, when comparing two different items. This provides insights into what newer generations expect and what it means in terms of the use of management control to support and enhance employee ́s motivation and satisfaction. This research paper presents the perspective of future employees, which consists of students of business administration at master ́s level and the perspective of the employers who demand them. The main results of the 93 survey participants show that in Likert scale and pairwise comparison open and transparent communication is most preferred, followed by flexible and self-determined working hours. As an optional comment, the preference for a work-life balance and avoiding micro-management were mentioned frequently. The findings from the interviews are that the younger generation values their work-life balance, are intrinsically motivated and it is difficult to retain young employees. In addition, students ́ perceptions and preferences towards their employers have changed due to the Covid-19 pandemic, also the interviews confirmed this experience. When comparing the results and findings with the literature, many similarities were found. There were some discrepancies, possibly due to the changed cognition after the pandemic. The results combined with the theory show that mainly relatedness and autonomy are required from the SDT and less competence. In addition, enabling controls fit better with the students' expectations, and at the level of the levers of control, the interactive control and belief system should be applied preferably. From a managerial perspective, challenges can arise in fulfilling the expectations. For example, it is difficult to fulfil only two of the three psychological needs, as competence is necessary to provide autonomy. Furthermore, tasks should be designed in such a way that enabling controls are increasingly applied, but from a management perspective, coercive controls can partially increase efficiency.