August 08, 2007

Gen Y@Work 7 - Recruiting Generation Y

Geny5Recruiting and retaining Generation Y will become more and more important over the next few years

There will be large competition for new Generation Yers entering the workforce as the labour market tightens up. See post on intergenerational conflict for more information about demographics.

Over the next few years, most employers will have realised that the rapid retirement of the Baby Boomer shortage means that they will feel the pressure to accommodate for the needs of Generation Y. Companies will need to be able to attract and retain Generation Y more effectively if they want to remain competitive in the market.

Currently, many companies are finding it a struggle to recruit and retain good Generation Y workers.

The main key to recruiting Generation Y is to show them that you can help them to lead a more meaningful life

Be authentic

  • Employers need to be authentic and straight up in their interactions with Generation Y
  • Generation Y will be able to pick up if an organisation is paying lip service and are not "walking their talk" - and they will happily use social media tell the rest of their peers that this is the case
  • Generation Y would prefer the unvarnished truth rather than something that sounds good

Use Generation Y marketing techniques

  • Recruitment needs to be treated as a marketing effort (with Generation Y being the buyers rather than the sellers) - see post on Managing Generation Y
  • Generation Y is fickle and very attracted to what is hip and cool - employers will need to keep ahead of the times to recruit the best Generation Yers
  • Maximise the use of websites, social media and other popular technologies in recruitment campaigns
  • Start employing "Myspace" type recruiting - go to where the Generation Yers hang out

Make your sector attractive

  • Sectors that Generation Y find naturally attractive
    • Generation Y's social awareness makes the third sector very attractive to them
    • Also Generation Yers are intrinsically very attracted to cutting edge industries (media , technology etc)
  • What about the other sectors?
    • In general, Generation Y's knowledge about different industries is poor because they think more in terms of a portfolio of skills rather then specific industry focused career paths (see post on Generation Y & careers for more information).This means that employers cannot rely on Generation Yers specifically targeting employement in their particular industry without any proactive marketing. Employers will need to work actively to make their industries attractive to the Generation Y workforce if they want to draw them in the numbers that they require
    • Even graduates with vocational degrees cannot be expected to look for jobs in the vocation that they have trained in - there are many other jobs that they can do in the market that do not require specific degrees (for example the IT industry is currently suffering from a skills shortage even though enough graduates have been trained in IT) - vocational employers will be competing against generalist employers for good Generation Y resource

Make your organisation attractive

  • Employers need to be prepared to actively communicate their vision, values, culture and organisational structure in their marketing
  • Employers need to recruit to culture and values - the best way to recruit and retain Generation Yers is to those who are are aligned to the organisation
  • Employers should not pretend to have an organisation that they do not have to attract Generation Y - even if employers are in the process of cleaning up their organisation, they need to be authentic about where they are and where they want to get to with Generation Y candidates

Make the roles offered attractive

  • Offer balanced roles that are well designed and provide work-life balance
  • Show them that they will be managed well
  • Offer the opportunity for Generation Yer to gain a variety of different skills in your organisation
  • Upgrade internships to include coaching and mentoring
  • Work with candidates to determine how the opportunities available in your firm will help them to achieve their personal objectives and passions
  • Take advantage of their tech savvyness (Internet, mobile technology, computer games, gadgets etc) - most of Generation Y is highly technically literate not matter what they have studied at university. Generation Y is ideally placed to drivers of product development, sales, entrepreneurship in the organisation. Furthermore they are ideally suited to generate innovation by challenging the way that your organisation and your industry operates

Effectively manage Generation Y expectations

  • Generation Y are looking for a lifestyle whilst working that is in alignment with their expectations (work-life balance etc)
  • Generation Y are very idealistic - do not be disenchanted with what Generation Y are looking for them - work with them to create win-win solutions. A perceptions survey in USA has shown:
    • Pay - salary is primarily an attraction tool, it is not a retention tool. Even though Generation Y can come across as overly concerned about money, they are prepared to shift if employers can support them to create the lifestyle that they desire
      • Gen Y - $45k
      • Employers - $28k
    • Promotion - the mismanagement of this expectation will result in your recruited Generation Yers leaving in droves when they are disappointed
      • Gen Y - after 6 months
      • Employers - after 18 months
  • What Generation Y want from work:
    • purpose
    • meaning
    • responsibility
    • promotional opportunity
    • increased responsibility
    • individuality and creativity
    • flexibility & fun
    • ethical commitment
    • belonging and engagement
    • up-to-date work environment
    • passionate & optimistic workplace
  • What they want from their boss
    • empowerment
    • mentoring rather than direction
    • fairness / recognition
    • personal connection
    • involvement & demonstration of values
    • demonstrated competence
  • Educate candidates - help them to understand your corporate culture, the lifestyle that they will have, the values of your organisation and the expectations of your organisation
  • Have an effective candidate management system where all candidates are treated as individuals

Reference articles

Click on this link to access the links to the following article: (1),(13),(15), (21), (23), (28), (30), (31), (32)

Generation Y articles in this research series (in date order)

Posted by: Hina Patel

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August 03, 2007

Gen Y@Work 6 - Generation Y & Career

Geny4Generation Y's concept of career

"Career is not for life but for time being"

Generation Y's view of career is significantly different from what has been normally accepted in the past.

Generally Generation Y believe that work and career need to be integrated with the rest of life rather than being distinct and separate from it. Generation Y are advocates of work-life balance and for the majority of them, work is not their top life priority.

The ambitious generation

Generation Y is hungry for success, but their approach is different from previous generations. Generation Y prefer to see themselves as a "business" rather than as a "job".

Generation Y top line career goals

  • Developing skills that they want to learn and experience in order to increase their work fulfilment from work
  • Making a difference to the world in areas that matter to them

Anything is possible

Generation Yers have a high level of social consciousness that is supported by high levels of self esteem developed from highly nurturing parenting (see post on role of Generation Y parents). Generation Y have high expectations of their "career" because they have been bought up to believe that if they dream big and work hard, then they can have anything that they want - that they can be anything that they imagine.

Generation Yers aspire to leadership very early in their working lives - they are yearning to have responsibilities that help them to make a tangible difference in the organisation that they are working for and in the world. Their career choices are typically driven by the quest for opportunities to play meaningful roles in work that help others.

Believe in ability rather than hierarchy and £££££Geny2_5

Generation Y value skills and abilities more than hierarchy. Generation Y is more incentivised by the opportunity to develop a diverse range of skills rather than being promoted.

Generation Y are not so interested in the need for financial success that ran Generation X. Additionally, as many still have parental support until their late 20s, Generation Yers have the freedom to seek work based on interest rather than how much it will pay at the start of their career.

Career is not a job for life

Generation Y do not resonate with the concept of a single career track that you need stay on and follow forever. Generation Yers do not expect to stay in the same career for more than 2 - 4 years. They are willing to move around until they find something that suits them. Most of Generation Y aspire to Initially acquire a diverse range of skills before they make more long term decisions about specialisations.

The importance of passion

Generation Y prefer to choose to do work that that they can be passionate about rather than taking a well paid position. They want to do work that matches what they are interested in and what they perceive their abilities to be. Many of the Generation Yers are idealistically looking for the paid equivalents of voluntary positions.

Personalised careers - portfolio careers

Generation Y want personalised careers that they have built for themselves - careers that incorporate all their current passions and interests. Generation Y are very open to developing "portfolio careers" where they are able to perform a range of roles that will give them fulfilment in their work (eg banker part time & yoga teacher part time).

Self-loyalty

Career wise, Generation Y do not plan to be loyal to anyone except for themselves. They are not prepared to give their loyalty to any company unless it provides a huge benefit to them.

Career planning

Generation Y prefer to leave entering the world of professional work as long as possible. The term "too little too late" describes well how a lot Generation Yers embark on initial career planning. This lack of care and lethargy is most probably due to the knowledge that they know that they will be able to move on easily if they initially choose a job that they have does not suit them.

If a job looks interesting, then a Generation Yer will be willing to take a risk and take it on to see how they get on. One can see how this mentality could be frustrating to potential employers who prefer to hear that prospective employees have carefully selected their industry and their organisation.

Management and work environment Geny2_7

Although Generation Yers are not too certain about what job they will take on to start their career, they are very definite on how they want to be managed and the type of work environments that will suit them. See post on how to manage Generation Y for more information.

Entrepreneurship

Generation Y prefer to feel that they are working for themselves even when they are working for a company.

Reference articles

Click on this link to access the links to the following article: (11), (14), (15), (17), (23), (24), (25), (27), (30), (31)

Generation Y articles in this research series (in date order)

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Gen Y@Work 5 - How to Manage Generation Y

Geny3List of tips on how to manage Generation Y

Many of the things on the list below are how most people would like to be managed and what good managers are doing anyway.

However, Generation Y is the first generation that actually demands it! If Generation Yers are not managed well then they (especially the good ones) will leave for another firm that treats them better.

Good management is a key tool for retaining Generation Y. Organisations that do not develop good management will:

  • Have difficultly in retaining good staff
  • Have difficultly in filling their positions - Generation Y will market to each other the good & bad firms to work for
  • Not releasing the potential that Generation Y have to offer in their organisation - Generation Y employees have the potential to be very high performers - if they are managed well, Generation Y will be a huge asset to their employers

"Many of us are bored, we want more from life than a desk. We want continued education in the workplace, better hours, more family focus...etc"

Do not reject Generation Y workers because they seem difficult to manage

  • Generation Y is the most smartest, tech savvy and idealistic generation of our time - organisations need to learn to leverage this generation to ensure their future success and competitive advantage
  • Meeting the challenge of effectively managing Generation Y will support organisations to raise their overall bar in management capability - the other employees will also respond positively to raised management standards

Make their work matterGeny2

  • Prove to them that there is a good enough reason to for what you are asking them to do
  • Give them productive tasks that make a difference from day one

Listen to them and provide them with feedback

  • Generation Y workers need for their voice to be heard
  • People that manage Generation Y need to notice and react to their performance - Generation Y need to be stimulated and given feedback on an ongoing basis
  • Give them the opportunity to tell you when they have a better idea for something since they will tell you anyway!
  • Try to make an effort to understand their "language"
  • Allow them to have their say in organisational decision making

Generation Y want to experience leadership as soon as possible

  • Build opportunities for leadership for them
  • Generation Y desire to take on significant responsibility early - they will respond positively if they are made responsible for sugnificant pieces of work
  • Provide them with autonomy - do not micro manage them - they will come and ask for help and feedback from managers and other employees if they can not do something

Get them on the leading edge of what the organisation is doing

  • Generation Y need to feel that they are the cutting edge at work - show them how their work is cutting edge

Encourage problem solvingGeny2_2

  • Never take for granted that Generation Y will not understand complex situations or products
  • Generation Y will not believe that something will fail unless they see it - they want actual proof that something that cannot be done
  • Generation Y are capable of solving issues that organisations have failed to solve in the past because they are not afraid of trying and learning from failing

Understand what motivates Generation Y

  • The key to managing Generation Y is understand what motivates them - once managers are able to active this, they will be able to inspire the loyalty of high performing Generation Y employees
  • Consider new benefits and compensation strategies
  • Generation Y are motivated to contribute by working through levels of increasing complexity -this comes from their gaming mentality
  • Generation Y do not respond well to command and control management styles ("do this or else"). Many companies have found that their Generation Yers have quit before they have the time to fire them
  • Remove / minimise company politics - Generation Y are not interested in "sucking up" - Generation Y is not afraid to tell people at all levels of hierarchy what they think of them
  • Goals, goals, goals - small goals with tight deadlines
  • Generation Y want work that is sociable and fun

Generation Y want recognition for what they do

  • Give public praise - Generation Y want to be famous and known for their achievements

Be prepared to manage their high expectationsGeny2_3

  • You will need to actively manage the expectations of Generation Y workers - explore with them which of their expectations can be achieved and why others cannot - Generation Y will leave if they are not supported to manage their idealistic expectations

Help them to make the transition into the professional workplace

  • Generation Y workers need to be provided with professional guidelines as they are not used to being formal
  • Teach them the basics of time management
  • Generation Y need support to transition to the real world - they are not as ready as to hit the ground running like Generation X were - they need more instruction & mentoring

Support them to give back

  • Offer Generation Y workers opportunities for community involvement
  • Allow them to help those less fortunate than themselves
  • Generation Y have a core need to make a difference and affect the world for the better - help them to do this

Be flexible about how they work

  • Be prepared to reconfigure the way that things are done - if the work is getting done, does it matter where and how it is done?
  • Provide balance, flexibility and variety in their work

Generation Y prefer to work in teams

  • Allow Generation Y workers to work in teams whenever possible as they are more social than other generations

Be prepared to encourage and guide them

  • Encourage the use of mentors
  • Generation Y know what they want from work but they will need support on how to get there
  • Model the behavior that you want them to have - be prepared to walk your talk - Generation Y will know when you are not being authentic
  • Provide coaching - coaching is one of the most successful methods for Generation Y retention

Cater to Generation Y's concept of careerGeny2_4

  • Create customised career paths for them rather than forcing them onto standard career paths
  • Provide them with a personalised portfolio job - give them the opportunity to experience different departments
  • Be prepared to develop additional career pathways in the organisation
  • Profile each Generation Yer individually and provide a personalised career path
  • Show them what lateral opportunities exist in the organisation - otherwise they will leave to find them in another organisation

Understand and provide for their need for technology, knowledge and opportunities

  • Commit to training and educational programmes
  • Provide them with opportunities to travel
  • A key part of retaining Generation Y is the provision of the technology that they are used to using in their personal lives - Generation Y "need" to have access to informal technology based communication
  • Allow them to consume media as part of their work
  • Provide them with cutting edge knowledge management tools

Allow them to contribute their skills

  • Provide Generation Y with opportunities for reverse mentoring - they will be excellent at rasing the technology capability of the rest of the workforce

Allow for "helicopter" parents

  • Parents may want to be involved in the development of their children at work

Reference articles

Click on this link to access the links to the following article: (13), (15), (16), (17), (23), (25), (26), (27), (28), (31), (32)

Generation Y articles in this research series (in date order)

Posted by: Hina Patel

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August 02, 2007

Gen Y@Work 4 - How Employing Generation Y Will Benefit Business

Employing Generation Y is more than filling in a gap in the workforceGeny1_4

Modifying their recruiting, managing and retaining processes to cater for Generation Y may seem like a high maintenance chore to some employers. They may feel that they have been pressurised to make changes to suit their Generation Y employees because they need to fill the workforce gaps left by their retiring Baby Boomers.

However, the benefits of having a satisfied Generation Y workforce are more considerable than just having a complete workforce.

Having Generation Y on-board and engaged will support their employers to naturally develop further proven sources of competitive advantage:

  • Engaged staff & higher productivity
  • Increased CSR capability
  • Increased collaborative working
  • Enhanced problem solving capabilities
  • Maximised use of technology
  • Enhanced core competency development
  • Increased internal entrepreneurship

Engaged staff & Higher ProductivityGeny2_20

The "good work" and "management" that Generation Y require are also conditions that the rest of the workforce will thrive under, increasing their happiness levels at work. Happy workers are more engaged in their work which which will result in higher levels of productivity, creativity and innovation and lower levels of stress and sickness. A more detailed discussion of the link between happiness and engagement is detailed in our previous blog summarising our happiness conference research. The current level of workforce engagement is only on average 30%...even an increase by a few percent will provide substantial productivity improvements.

Furthermore, a Generation Y workforce will challenge outdated ways of working that are entrenched in the organisational culture....Generation Y love to ask "Why?"...especially when it means that they could be sacrificing their work-life balance. Generation  Y will be incentivised to work with employers to reshape job roles so that they are more effective and more conducive to work-life balance...this should result in increased productivity over a shorter working week.

Increased CSR capability

An organisation's CSR activities will be a key attraction and retention tool for a Generation Y workforce who want to contribute back to society. Furthermore, an organisation's Generation Y workforce would be delighted to support their organisation to develop its CSR capabilities further. If the organisation is able to engage their Generation Y workforce in their CSR development, then they will be able to implement highly leveraged creative CSR solutions with a limited resources because of the passion and enthusiasm of their Generation Y workforce. Additionally, many Generation Y employees will be willing to implement community focused CSR activities in their non-working time as it will contribute to their personal social responsibility.

The CSR business case - the government CSR department is currently working to show that organisations that take on CSR actively improve their profitability because they will be able to attract better customers and business partners.

Increased collaborative workingGeny2_21

Collaboration is one of the most difficult activities to develop in business because most people have been trained to work and deliver as individuals...developing effective teams has always a significant challenge for the management in all organisations.

Generation Y are naturally collaborative employees - the majority of Generation Y love to work in teams rather than as individuals. Furthermore they are savvy with technology based collaboration tools, facilitating collaborative working even when the team is working remotely. This passion and enthusiasm for team working should rub off onto the other members of the workforce who are working with Generation Y team members.

Enhanced problem solving capabilities

Generation Y love to solve problems. They are not stopped by the fact that the organisation has not succeeded in the past with any particular issue - they love to take on these types of challenges and they will not stop until it is done. Typically, Generation Y have no problems in risking failure in order to learn how to solve problems...this mentality comes from their game playing activities where you need to fail in order to learn how to get to the next level. Properly supported through mentoring and good management, an organisation's Generation Y workforce will be a great asset in supporting the organisation to solve their long standing issues.

Maximised use of technology

An organisation's Generation Y workforce will know more about how to use the latest technology applications effectively and creatively than the rest of the workforce. They will facilitate their organisation to learn how to use the latest technology to improve performance and they will also teach the rest of the workforce how to use it. Generation Y will be particularly useful in helping their organisations to implement the web 2.0 and 3.0 tools (on line social networking etc)to improve connection, sharing and collaboration internally within the organisation and externally with customers, suppliers and partners.

Enhanced core competency development

Generation Y want to learn a portfolio of skills that they find interesting rather than concentrating on specializing in one job profile. Generation Y also prefer a portfolio way of working where they are doing several job roles at the same time. Organisations that facilitate their Generation Y workers to do this will both increase retention (as their Generation Y workers will not need to leave the organisation in order to learn other new and interesting skills) and increase the organisation's ability to transfer knowledge and best practices across different functions.

Increased internal entrepreneurship

Generation Y value autonomy, independence and entrepreneurship. They would love to help their organisation to improve its entrepreneurship activities.

Generation Y articles in this research series (in date order)

Posted by: Hina Patel

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Gen Y@Work 3 - Generation Y - Vision, Good Work, Work Ethics, Work-Life Balance

The importance of Generation Y in the workforceGeny5_2

The demographics show that the Generation Y are a prominent section of the workforce - currently 20% of the workforce and rising to 40% in 2010. Employers are starting to realise that with the upcoming Baby Boomer shortage through retirement that in the future they have no choice but to accommodate Generation Y if they want to retain a robust competitive advantage.

In the next few years, Generation Y workers will be in the position of asking for what they want from their work from their employers.

So what does generation Y want from their work?

When you look at the list of what Generation Y are looking for from their work (vision,values, good work, work ethic, work-life balance), you will see that it is not much different to what most people desire from their work. However, Generation Y is the first generation that is not willing to sell out on themselves to please their employers. Generation Y workers have high expectations and they expect to them met.

Good Generation Y workers will leave an organisation that does not give them what they want - some of the older Generation Y workers (circa 27 years) are in their 9th job!! Typically it is expected that the majority of Generation Y will have changed roles 5 times by the time they are 30. Generation Y have considerably less company loyalty than previous generations and are more prepared to walk and seek another organisation that is more suited to their needs if they are dissatisfied.

Company Vision & Values

Companies that want recruit and retain good Generation Y workers will need to create company vision and values that will motive them. Generation Y want their work to be holistic, have meaning and make a difference in the world. The key elements that are important to Generation Y are:Geny2_13

  • A company vision that seeks to make a positive difference in the world...Generation Y has a core need to make a difference and affect the world for the better

"Work needs to matter - make it matter"

  • A set of shared values that are actually lived...ie the company walks its talk!
  • Flat organisational hierarchies...Generation Y value abilities and skills more than positions
  • Divestment from dictatorial regimes...Generation Y are not well suited to command and control type management
  • Valuing the development of people...Generation Y want their work to help them to fulfil their potential and dreams
  • Ethical and sustainable operation...Generation Y are highly supportive of CSR
  • Affinity groups for shared learning and working....Generation Y love to learn, share knowledge and work in teams

Good Work

We have already explored "what is good work?" in a series of Blogs that are part of the foundation's happiness research (posts: Good Work Part 1 and Good Work Part 2). Generation Y are demanding good work and are prepared to be paid less for it. In general they prefer choose employers who have well designed work that suit the needs of a human being rather than employers who pay more but do not provide "good work". In the USA, even management consultancies (long known for long hours, lots of travel etc) are having to lower the hours that they expect their staff to work and to also allow time for volunteer work and entrepreneurial activities. Geny2_14

Generation Y are not afraid of challenging their employers as to why things need to be done a certain way. They are not willing to put themselves out and compromise their work-life balance to do things in a certain way because it has always been done that way. For example in Deliotte in the USA, Generation Y challenged the need working in intensive on-site teams when the same work with the same time-lines could be done at the hours convenient to the consultants off-site.

"If the work gets done, does it matter where it is done from?"

Work ethic and work-life balance

Many employers are saying that Generation Y have a low work ethic in that they are not prepared to work hard and deliver what they are being paid to do. In actuality, Generation Yers do have high work ethics but they define it differently....Generation Y are hard workers:

  • but they are not willing to do work that has no meaning for the sake of it
  • ...and they are not willing to work long hours and compromise their work-life balance....Generation Yers will challenge employers who require long hours as a standard for the jobs that they offer - from the Generation Y perspective these jobs have not been properly structured in the first place and the jobs need to change so that they are more suitable for human beings!

"Organisations just can't find people who are willing to work 60 hours a week"

Generation Yers will also challenge the need for excessive amounts of formality at work when it is not really required - this can be seen as a lack of professionalism by some employers

Work-life balance is an important value held by Generation Y. Employers can be last on the list of a Generation Yer's priorities unless they feel that their work is extremely valuable to their life.  Even Generation Yers who are passionate about their work will not make work a top priority because of their desire to have life with balance. A typical prioriGeny2_15ty list for Generation Y is:

  • families
  • friends
  • communities
  • coworkers
  • themselves
  • employers

"Overall, Generation Y are not that into work"

Generation Y have typically achieved the experience of affluence as part of their upbringing...and they know from this experience that money does not make you happy. Generation Y are not as interested as previous generations are to put earning lots of money above the overall quality of their lives...they have seen their parents make their lives work and TV and they do not want that for themselves.  Furthermore, Generation Y are better able to regulate the demands of parenting and juggling their career because they are more prepared to make quality-of-life trade-offs. 

Reference articles

Click on this link to access the links to the following article: (15), (16), (17), (18), (23), (24), (26), (28), (30), (31)

Generation Y articles in this research series (in date order)

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Gen Y@Work 2 - Generation Y and Intergenerational Conflict

The current generations at workGeny4_2

This is the first time in history that we have four distinct generations in the workplace.

  • Traditionalists Pre 1946 (youngest is 64)
  • Baby Boomers 1946 - 1964 (youngest is 43)
  • Generation X 1964 - 1979 (youngest is 28)
  • Generation Y 1980 - 1994 (youngest is 13)

The workplace clash - the intergenerational conflict

Thoughts about Generation Y at work...

"...Companies are now waking up the havoc that the newest generation is causing"

"...These people are so smart it is sometime unbelievable...and here is the cool part, they don't know what they can't do..yes, they are pampered by their parents...but they are smart, fast learners who love to please"

"...70% of older workers are dismissive of Generation Y"

Reference article 34 provides a comparison of how the different generations work & reference article 35details the conflicts due to the different generations in the workplace.

What the demographics are telling usGeny2_11

  • Currently Generation Y make up 20% of the workforce
  • In 3 years time (2010) Generation Y will make up 40% of the workforce
  • Baby Boomers are starting to take early retirement and in 5 years time a large proportion of Baby Boomers will be eligible for full retirement
  • This will result in a tightening of the labour market with a severe skills shortage
  • The UK will not be able to solve this problem with migrant labour and off shoring because this demographic problem is a global phenomenon
  • The government are predicting that work capacity that is not currently being utilised (stay at home mothers, disabled, sick people, carers, retired workers, students etc) will need to enter the job market to keep the UK economy on track
  • The job market should be be looking healthy for Generation Yers who are graduating in the the period that employers should be preparing for the future shortage of workers

The transition period and the difficulties being experienced by Generation Y

The demographics should be good news for the UK's graduate population. However, this is not the experience that most graduates are experiencing:

  • Many employers do not seem to be aware of the demographics time bomb...their Baby Boomers still have not left and they are experiencing a large influx of new graduates on the job market that they do not have the facility to cope with. Employers are reacting by raising their employability standards to make recruitment manageable, forcing many graduates to resort to taking sub-graduate jobs in order to be employed Geny2_12
  • Employers are expecting that they will be able to hold onto their Baby Boomers heading into retirement on a part time because they still need to earn money to support the lifestyles that they desire
  • Current graduates are now being advised to not make the "demographic" mistake and prepare even more rigorously for employment in the job market by:
    • not letting their helicopter parents have contact with employers
    • making sure that their "My Space" is suitable for employer viewing
    • networking to raise their profiles
    • being courteous
  • In the USA, the story seems to be different for graduates because the market is tightening up at faster pace because of higher rates of early retirement. Organisations are typically increasing their graduate intake rates by 20%
    • Here the demand for young graduates is already outstripping supply
    • Employers are having to pander to the employment needs of Generation Y in order to be competitive in the recruitment market

Reference articles

Click on this link to access the links to the following article: (1), (4), (17), (18), (23), (25), (27), (28), (34), (35)

Generation Y articles in this research series (in date order)

Posted by: Hina Patel

Posted at 03:24 PM in Generation Y, graduate conference | | Comments (0) | TrackBack (0)

Gen Y@Work 1 - Characteristics and Values at Work

Generation Y characteristics at workGeny3_2

  • Work-life balance is not a "buzz word" to Generation Y - they mean it  (work-life balance comes first even if their career does not progress)
  • Work is not life
  • Don't like "command and control" management styles (equality with parents means they are less open to being told what to do)
  • Want to be independent (much of Generation Y is attracted to the idea of working for themselves)
  • Want to work in independent environments
  • Love to work in teams
  • Highly naturally collaborative
  • Tech smart
  • Have a different concept to career than previous generations (they want to explore & change, they want to apply the "mash-up" concept to jobs)
  • High performance AND high maintenance
  • Hard working
  • NEED and want direction
  • High ability to multi-task (concentrate on many things at the same time) Geny2_10
  • Able to reverse mentor technology skills to rest of workforce
  • Casual and informal working styles
  • Require constant feedback and stimulation
  • Have difficulty in concentrating for long periods
  • Find it difficult to make the transition to professional work (this may come across as low self confidence at first glance, but Generation Y are typically very self confident)
  • Not afraid to move about as not intimidated by companies
  • Low levels of ability verbal / social / written communications (Generation Y is used to communicating in their "own language" to each other)
  • Low loyalty to organisations
  • Low receptivity to long hours

Generation Y Values at Work

  • Work life balance
  • Good work
  • Work with meaning
  • Building a portfolio of skills
  • Personal expression
  • Work they can be passionate about

Reference articles

Click on this link to access the links to the following article: (4), (6), (7), (11), (12), (13)

Generation Y articles in this research series (in date order)

Posted by: Hina Patel

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Gen Y 5 - The Marketing View of Generation Y

Understanding Generation Y from the experience of marketing to themGeny4

Many of the behaviours and values that are intrinsic to Generation Y are showing up in how they want to be marketed to....this post explores what is showing up about Generation Y from the marketing perspective.

Generation Y is a significant market

The "collaborative partnership" relationship that Generation Y have with their parents has resulted in Generation Y having more financial clout in the market than expected. Generation Y have a significant impact on the purse strings of their parents because their parents:

  • Spend a large proportion of their disposable income on their children
  • Rely on their children to make technical buying decisions because of Generation Y's technical fluency
  • Rely on their children to make product and service comparisons in a complex consumer market

Generation Y is a "marketing mystery"

Marketers are finding it extremely difficult to market to Generation Y because it is a very diverse group in terms of demographics. Generation Y is also a very "tight" group because they have a high level of influence amongst themselves...Generation Y prefer to market to themselves than to be marketed to.

Generation Y have low brand loyalty

Old marketing methods based around brand loyalty are not working. Generation Y is driven by what Generation Y themselves as a group deem to be hip and cool. They want to have products and services that are on the leading edge, and they will change suppliers at the flick of a switch to get this. They demand real intrinsic value in their products and services than than perceived values that are build around branding. Generation Y are also less likely to be influenced by celebrity and image marketing. Generation Y want more authentic and human marketing - they prefer to have the unvarnished truth rather than hype.

Generation Y is driving market diversityGeny2_4 and innovation

This lack of brand loyalty by Generation Y is lowering the barriers of entry for new competitors. If suppliers have products and services of real value that are on the leading edge, then Generation Y would like to buy from them. Generation Y is always searching for the next best thing...driving high levels of innovation.

Generation Y need to participate and interact

Generation Y see on-line shopping as a sport. They see on-line as a medium by which they can influence the products and services that they have access to. They want to be able to vote and provide feedback...Generation Y are not prepared to just read marketing material in a magazine and then buy - they want to log in, provide feedback and also socialise with other buyers. They want to be involved in the creation of their products and services. They know what they want and they want to influence their suppliers to get it - Generation Y do not like to be told what they should want, they want to dictate what they want.

Generation Y need multiple marketing channels

Generation Y need a mix a marketing channels, with the on-line participatory channels becoming more and more of a necessity to reach them. The technology that is available is now driving unprecedented levels of customer choice....marketers are finding that they need to go to where Generation Y hang out and participate with them rather than waiting for Generation Y to come to them to purchase set solutions.

Generation Y prefer simplicityGeny2_5

Generation Y want stripped down brands that are forward thinking. They want their products and services to be more "real stuff" and less packaging.

Generation Y are sophisticated buyers

Generation Y have been making buying decisions for a lifetime. They are now the most sophisticated buyers in the consumer market.

Reference articles

Click on this link to access the links to the following articles: (2), (3), (4), (6), (10), (11), (12), (15)

Generation Y articles in this research series (in date order)

Posted by: Hina Patel

Posted at 03:22 PM in Generation Y, graduate conference | | Comments (0) | TrackBack (0)

Gen Y 4 - Generation Y Characteristics and Values in Life

Generation Y CharacteristicsGeny1

  • positive attitude
  • happy
  • sociable
  • driven
  • want to help those less fortunate than themselves
  • talented
  • collaborative
  • team workers
  • open-minded
  • achievement / goal orientated
  • confident
  • hopeful
  • inclusive
  • technically fluent
  • skeptical
  • impatient
  • civic minded
  • creative
  • hard working
  • know what they want
  • multi-tasking
  • always looking for the next best thing
  • lack of loyalty for organisations and brands
  • lack of personal resourcefulness (but high problem solving resourcefulness)
  • lack of personal independence (but are very independent in what they value)
  • lack skills for dealing with different kinds of people (but are very effective at collaborative working)
  • lack of professional fluency
  • low levels of general literacy
  • lack of concentration
  • distaste manual work
  • rely too much on spell checkers!

Generation Y valuesGeny2_9

  • choice
  • informality
  • personal expression
  • authenticity
  • work-life balance
  • contribution
  • meaning

Reference articles

Click on this link to access the links to the following article: (2), (3), (5), (6), (7), (15), (23),

Generation Y articles in this research series (in date order)

Posted by: Hina Patel

Posted at 03:20 PM in Generation Y, graduate conference | | Comments (0) | TrackBack (1)

Gen Y 3 - Other Factors Influencing Generation Y & The Generation Y Divide

Drivers that have shaped Generation YGeny6

The two main drivers that have shaped Generation Y have been:

  • Parenting - increased focus on family and nurturing of Generation Y by their parents, high levels of parental advocacy, and the living of scheduled and structured lives (see our post on Generation Y parenting)
  • Technology - Generation Y are the most technological focused generation in a world technology continues to speed up at a rapid rate (see our post on the impact of technology on Generation Y)

The other drivers that have also influenced Generation Y include:

  • Multiculturalism - Generation Y is used to living in a multicultural society where diversity is seen as positive asset and where they are used to mixing socially with a variety of people
  • Globalisation - unlike previous generations, Generation Y do not see globalisation as a threat - they see it as a core part of life
  • Social consciousness - Generation Y have experienced the rise of Corporate Social Responsibility (companies giving back), the expanding third sector (organisations created to give back), the awareness of unsustainable living (recycling, global warming, the drive to reduce carbon footprints etc), and the awareness of global inequalities (poverty. third world debt etc)
  • Terrorism, heroism, patriotism - September 11 and other terrorist activities has also been a key influence for Generation Y

Impact of digital divide and social divide on Generation YGeny2_8

From our posts on parenting and technology, it is clear that these two drivers have played a very important role in the development of the distinctive Generation Y characteristics and abilities. However, not all the members of Generation Y have had full access to these factors...there are significant numbers of Generation Yers, mainly from the lower socio-economic groups, who have not had full access to the benefits of these drivers....resulting in the creation of a digital and social divide in Generation Y:

  • Digital divide - one one side we have the Generation Y members have had the opportunity to have access to the Internet 24/7 and have had access to the new technologies that have come onto the market...on the other side we have Generation Y members who did not grow up with Internet at home and the latest technology products impacting negatively on their developed technology skill levels and technology awareness
  • Social divide - on the one side we have Generation Y members have had access to helicopter parents who have nurtured them and build up their self esteem as well providing good professional role models....on the other side we have Generation Y members who have had not had access to high levels of nurturing and limited access to professional role models to raise their aspirations of what is possible for them

The importance of parenting and technology as the main factors that have shaped Generation Y has also intensified the difference between those who had full access to these factors and those who have had limited access. The differences in the members of Generation Y on either side of the divide are stark and are not easy to fix...for example developing high self esteem later on in life is a very difficult achievement to attain even for a very proactive person. On the employment front, this divide could be the cause of significant employability differences and this is currently showing up in the graduate market.

Reference articles

Click on this link to access the links to the following article: (5)

Generation Y articles in this research series (in date order)

Posted by: Hina Patel

Posted at 03:19 PM in Generation Y, graduate conference | | Comments (0) | TrackBack (0)

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