Thailand recently reached “aged” society status, signifying that over twenty percent of the population is over sixty. Considering that Thailand has a low literacy rate, a fractured pension system, and no regulations that could provide sufficient income to cover basic needs after retirement, there will be economic repercussions if the situation is not handled soon. The government and financial institutions have been encouraging Thai citizens to prepare retirement plans but lack understanding of the root causes of being unprepared for retirement. The objectives of this qualitative research were to explore the behavior, knowledge, and preparedness towards retirement in governmental and private wageworkers. Moreover, the study aims to identify the pain points of being unprepared for retirement and deliver the optimal solutions and sustainable retirement plans suitable for each segment. This article employed a sample of 46 wageworkers in Khon Kaen, Thailand with ages ranging from 20 to 59 years old. Qualitative semi-structured in-depth interviews and qualitative content analysis were conducted with the respondents asking about their income, expenses, pains, and problems towards saving for retirement, their desired outcome after they retire, and how they would achieve it. The framework used for the in-depth qualitative interview was by utilizing the customer, problem, and solution zoom tool. The research contributions were to facilitate Thai citizens being ready for retirement stages and overcome post-retirement risks sustainably. The results revealed that the sample could be divided into four segments by their characteristics. Two low-income segments share the same traits and behaviors that can prove that financial literacy plays an essential role in retirement readiness. Lower-income wage workers do not have their money put in place to prepare for retirement. Additionally, this article discussed the study’s implications for wageworkers, employers, and the Thai government. This article recommended that Thai citizens should accumulate wealth in various ways, including investment in financial assets and earning additional income from a second job. Employers should provide suitable retirement contribution schemes. The government should launch a policy enabling above-60-year-old seniors to continue working.

Multigenerational employees can evidently impact human resource management practices in terms of effective employee retention. Arguably, a high turnover intention of young employees can hinder a company’s human resource development, while a high volume of retirement of senior employees can create a skill deficit and even a labor management dilemma. This study explored how a supportive work environment can retain employees of different age groups in Thailand’s small- and medium-sized enterprises (SMEs), particularly Generation X and Y. It modeled a supportive work environment that impacts the behaviors of Generation X and Y employees, taking into consideration the relationship among factors such as person–job fit, person–group fit, person–supervisor fit, person–organization fit, person–environment fit, and turnover intention. This paper statistically analyzed a set of data drawn from an attentive survey of a total of 400 employees of SMEs in 4 populous provinces in Thailand using structural equation modeling (SEM) and multigroup analysis (MGA) with the moderation effect of generations. This paper then found that person–job fit, person–group fit, person–supervisor fit, person–organization fit, person–environment fit, and turnover intention can influence an employee’s intention to remain in his/her job. Additionally, the relationship manipulation among the aforementioned variables might influence Generation X and Y employees differently. Under the circumstances, supervisory support with less group involvement may encourage the retention of Generation Y employees, whereas a sufficient focus on job suitability could improve the retention of Generation X employees.

Purpose: Although the majority of research explores the direct relationship between family control and innovativeness, the purpose of this paper is to investigate mediators that explain how family control is related to innovativeness. Grounded in agency theory, resource dependence theory, and the resource-based view of the firm, the authors suggest that this relationship operates through board task performance, that is, the level of directors’ involvement in control and service tasks.Design/methodology/approach: To test the hypotheses, structural equation modeling is applied to cross-sectional survey data collected from 329 private firms that are located in Belgium. Family control is defined as 50 percent family ownership in combination with at least one family member being involved in the management or board of directors of the firm.Findings: Four key results emerge from the analysis. First, family control is negatively associated with control task performance but does not affect service task performance. Second, control and service task performance positively influence innovativeness. Third, the negative relationship between family control and innovativeness is partially mediated by control task performance. Fourth, the presence of a family CEO and the percentage of family directors address heterogeneity among family controlled firms (FCFs).Originality/value: This paper complements and extends existing research on the relationship between family control and innovativeness by adopting a governance perspective. The authors contribute to a deeper understanding of why FCFs are more or less innovative than nonfamily controlled firms and reveal underlying mechanisms previously uncovered.