In the previous posts, I discussed the Matures, continuing the sequence; we met the Baby Boomers, Generation X or GEN X, and now I introduce Generation Y or GEN Y.
This is about Generation Y, otherwise called GEN Y, Millennials, Generation Next. They are 25 to 34 years old, and are 70 to 80 millions in the United States.
Gen Y, are shaped by their early experiences which created filters through which they see the world, and directly impact how they navigate their worlds. Events like the 9/11 attacks, The Columbine high school attack, Oklahoma City bombing, Iraq and Afghanistan wars wrought their world. They see themselves as extension of technology; Reality TV is also a way of life for them.
They were brought up in small families, one in four of Gen Y parents are college-educated. More than 50 percent of Gen Y in the United States are immigrants, or children of immigrants. They shaped the face of politics in the 2008 US elections through the use of social media. They are recognized as playing a major role in electing the nation’s first black president.
They are witnessing corporate greed, exposure of Ponzi schemes, and industry bailouts, and worldwide economic crisis.
The Y’ers have been defined by some as narcistic, self absorbed, and not reliable. Their heroes are not political figures or movie stars but regular people in their circles as teachers, family member or the firemen and police men like the ones that responded to the 9/11 attacks and risked their lives. .
• They are the fastest growing demographic at the workplace
• Famous examples of Gen Y: Zuckerberg, Justin Timberlake, Beyonce, and Michael Phelps.
• Musical Era: Back street boys, N Sync, Black Eyed Pea, Rihanna and Lady Gaga.
• Workplace: Work for deadlines not necessarily schedules, they value blending that is why they prefer working in open spaces and hate the closed door offices. They like to shop for both employers and vendors they remain connected 24/7, not your typical nine to five employees. They are multi-taskers, tech savvy, but they need immediate constant feedback, as well as mentors. They are socially responsible; believe in good causes and the environment; prefer to work for companies with the same values. They are critical of the ethics and morality of business.
• Family: Gen Y is comfortable living with their parents, maintaining close ties with their families. Friends are global and can be online. Gen Y has been the busiest generation of children, parents and teachers micromanaged their lives, leaving them with little free time. It is very common to hear them say my mother or father is my best friend.
• Leadership: They are redefining the rules; they value autonomy, and are restless. They are individuals with group orientations. They don’t look for leadership positions.
• Culture Ethos: They see education as important, but also expensive. They are participative in nature, embracing diversity. They have liberal attitudes toward issues such as gay marriage and interracial dating. They believe in volunteerism and service to communities. They are more involved in politics; and youth-driven activist organizations build grassroots movements for various social and political causes.
• Loyalty: They value personal freedom and autonomy, they are loyal to people either they work with or play with.
• Communications: Casual, instant, personal and direct; eager to please. They rather communicate with text messages and IMs. They will not listen to voice mails. They are connected online all day through their laptops, and cell phones.
• Recognition and motivation: They have high expectations and clear goals. They prefer individual public recognition, as they like attention and exposure. They like to be valued for their opinions; they will work hard to have opportunities to broaden their skills. They connect their actions to their personal and career goals. They get motivated by setting them up to work with other bright creative people, and by allowing them enough time and flexibility to live the life they want.
• Technology: They’re the first generation to grow up surrounded by digital media. 2/3 of them used computers before the age of five. They are connected 24/7. They are seen as the driving force behind the recent revolution in American political campaigning. They created new sites, and used existing ones as YouTube, and Facebook, to rally voters and raising money.
• As a customer: Gen Y wants to use the same tools as their peers but with a unique twist. They will consider a company’s products if the company is known for their humane attitude. They like technology-based products and look for more advanced tools to help them. They don’t trust companies’ marketing materials and check with online peers before making purchasing decisions.
The challenges and opportunities as well as solutions to the Generational gap links are attached.
Diversity starts at home,
Sahar Andrade, MB.BCh
Diversity Consultant – Social Media Strategist
Sahar Consulting, LLC. - Home of the D.I.A.L.O.G.™ Programs
Diversity& Inclusion in Active Leadership Organizational Growth™
(Exchanging Ideas through Conversation)™
http://www.saharconsulting.com
(818)861 9434
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A 2006 survey by Gallup Management Journal found that 56 percent of the US workforce are “not-engaged,’ or sleepwalking through their workday, costing their organization money by putting in time without any passion or personal involvement. Fifteen percent of the United States workforce is “actively disengaged,” where employees are unhappy and manifest their unhappiness not only by undermining the efforts of the engaged employees, but also by creating a hostile work environment that is toxic for all employees possibly leaing to workplace violence. In April 2009, the U.S.Bureau of Labor Statistics published a press release reporting that the usual weekly earnings of wage and salary workers for the first quarter of 2009 were: “Median weekly earnings of the nation’s 100.2 million full-time wage and salary workers were $738 in the first quarter of 2009.” A yearly median salary will be $38,376.00 ($738X52 weeks), the actively disengaged employee will cost their employer 41 percent of their annual salary i.e. $15,922.00. Multiplying that by 15 percent of the workforce, and it demonstrates employer’s loss of millions, if not billions of dollars. Gallup estimates the lost productivity of actively disengaged employees costs the US economy $370 BILLION annually. In February 2010, the number of employees voluntarily quitting surpassed the number being fired or discharged, according to the Bureau of Labor Statistics. The issue becomes how long an organization can afford to survive before dealing with the problem of actively disengaged and disgruntled employees. The solution is available for a fraction of the cost of the loss incurred by these organizations. The solution is fostering a positive work environment through diversity and inclusion, training, action plan, execution and follow-up. Creating an organizational culture where all employees feel valued and a vital part of the organization.
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