The just pass Thursday, 10 July 08, i attended a Session Briefing on Harnessing the Potential of Gen Y in Singapore's Workplace organised by my company SHRI.
How do we define wat is Gen Y?
Born between 1977 and 1994, this is the youngest generation in the work force. They’re flooding into our workplaces with boundless energy and ambitions to match.
They are Optimistic, self-confident, strong morals and sense of civic duty, think
differently, expect greater workplace flexibility and work/life balance,
want options, challenge and want feedbacks.
How do we define wat is Gen X?
X is a term used to describe a group of people born from 1968 to the mid or late 1976s. This generation follows the powerful Baby Boomer generation which spiked after World War II. Although the term Generation X is used to describe people born in this time period, it has also been used to describe anyone who is “twentysomething” at the time. The biggest impact that Generation X has had on popular culture probably began in the 1980s and peaked in the 1990s.
They have Higher view of marriage, Lower view of sex, Selectively high morality, Tolerance, Spiritual, Universalist, Ignorance, Experiential, Doubt without guilt, Beer is boss, Non-workaholic, They believe they're OK eternally, Relational, They dismiss 'organized religion' and They consider 'evangelism' obnoxious.
The Question being asked are With university credentials in hand, Generation Y is entering the workplace full of ambitions. However, the world has only just begun to understand Generation X. So what can we expect from Generation Y? Do they pose a threat? How will they fit in and how will they change the workplace?
It is becoming increasingly clear that workplaces need to start preparing for the influx of Generation Y workers. While the change might not be quite so radical as the one felt by the baby boomers when Gen X arrived on the scene, employers and their employees will still have to adjust to a group that has a whole new set of values, behavioural characteristics and expectations to add to the mix.
So what makes Generation Y so different? Well for a start, they have a stronger set of values than Generation X. Although they are often viewed by their elders as the spoiled generation, and while they may be impatient and expect success to come quickly, Generation Y seem to have unexpectedly turned out to be less materialistic. They understand their value systems and place great importance on balance of life – neither of which they’re willing to compromise for their pay-packets. They are full of optimism and self-confidence, have a good sense of loyalty and a healthy dose of social conscience.
To understand their Generation Y colleagues, older employees need to be aware of these characteristics, especially to ensure a positive working experience for everyone. Generation Y may be loyal, but this loyalty does not necessarily extend to organisations. One of the key challenges for organisations lies in getting their Generation Y talent to stick around. A manager who is a true leader and encourages, motivates and challenges a Generation Y will inspire a more long-term commitment, as will a great team environment.
While a Generation Y’s ambition to achieve their career goals quickly, may be off-putting to older employees, resist the urge to cut them down. Instead, seek their input on important decisions and encourage them to feel valuable and meaningful in their roles.
Generation Ys want to believe in the company they work for. Brand values and genuine, inspiring leadership are important to them. To Generation Y, a good manager is one who is a coach and mentor. They expect to be treated as individuals and will not respond well to old-fashioned, rigid hierarchies. For this new generation, a successful career may mean many different jobs - a big difference to the boomers, who were more likely to stay put. Impatient Generation Y’s will refuse to simply put up with a situation that is not meeting their expectations.
Like Generation X, Generation Y is concerned with their own marketability. Providing opportunities for growth is a must for retaining top Generation Y talent. The more a Generation Y employee feels they are in a position where s/he is able to grow and become more marketable, the more likely s/he will stay. A Generation Y’er won’t necessarily put up with an employer that lets them sit and stagnate in their position.
Having said all this, it’s important not to get too preoccupied with the dynamics of a single generation. DBM predicts the workforce of the future will be made up of as many as four to five generations, ages ranging from 18 on, and from a wide range of countries and backgrounds. In addition to the new generations coming up through the ranks, older workers are expected to wait until they are much older to fully retire and will become more valued as the pool of skilled workers begins to shrink.
The one certainty in all of this is that we can no longer model the workplace on the expectations and values of a single generation. This may have been a possibility in the days of the Baby Boomers or the veterans (the generation before them), but we now need to move away from the purely generational trends and establish principles of good leadership. Younger workers may be a product of their generation, but beyond this they are also a reflection of the changing workplace. Change is here to stay and the only certainty will be unpredictability and workplace diversity. Employers need to be flexible and adaptable in order to remain competitive, and above all they need to develop strong leaders. Employers can learn a lot from Generation Y, but in order to survive, organisations and the people within them will need to find a way to work with a number of generations.
So Do You Consider Yrself Gen Y or a Gen X?
