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Generational Leadership Preference in the Insurance Industry

Generational Leadership Preference in the Insurance Industry

Darcy Munton | 2021

Abstract

This study was inspired by Larson (2017) and followed the scholar’s recommendations to continue researching and expanding on literature in regard to ideal leadership preferences across generations. Specifically, the purpose of this study was to determine if any significant differences in ideal leadership preference from Baby Boomer followers, Generation X followers, and Generation Y followers existed in the insurance industry. The leadership behaviors included in this study were transformational and the components of transformational leadership, transactional and the components of transactional leadership, and laissez-faire leadership. Data were collected using the Multifactor Leadership Questionnaire and analyzed using a one-way analysis of variance and the Kruskal-Wallis test. The results showed that no significant difference existed in leadership preference for transformational, idealized influence, inspirational motivation, intellectual stimulation, transactional, contingent reward, passive management by exception, active management by exception, and laissez-faire leadership across Baby Boomers, Generation X, and Generation Y in the insurance industry. There was, however, a statistically significant difference in individualized consideration leadership preference. This study expands upon the literature regarding leadership preferences across generations and provides practitioners and companies with a leadership development and training focus. Finally, it provides leaders with a better understanding of the leadership behaviors that their multigenerational workforce desire while shedding light on the difference of preference for individualized consideration between Generation X and Generation Y.