The Workplace and Generation Y
Posted by Caitlin Brown on Thursday, August 5, 2010 · Leave a Comment
“They’re like Generation X on steroids….They walk in with high expectations for themselves, their employer, their boss. If you thought you saw a clash when Generation X came into the workplace, that was the fake punch. The haymaker is coming now.”
- Bruce Tulgan, author
Generation Y—the newest generation of workers, labeled as the spoiled, pampered, tech-savvy, intelligent multi-taskers; the children born mostly in the 1980s and ‘90s. In the last 5+ years, Gen Yers (also referred to as Millennials), have been entering the workplace and working amongst older workers—both as employees and supervisors. So what is it about this group that has employers both fearful and excited?
Millennials have been raised in social and economic environments different from past generations. Take the stereotype of a youngest child and apply it to Generation Y—a bit spoiled, coddled, praised for everything. Now add to the mix the rapid growth in technology, from computers themselves down to the details of email, social networking, smart phones, texting, etc. Coupled with pop culture phenomena caused by the Internet and popular literature (think Harry Potter and Lord of the Rings), Gen Y is a force to be reckoned with.
In a 2005 article from USA Today, Millennials have grown up accustomed to praise in everything they do, with no child left behind on the action. Not only do they believe in their own self-worth, but they also have the tendency to question authority—which resonates not-so-positively in the workplace. However, this generation has produced independent-thinking workers who are not afraid to speak their mind. In addition to being intelligent and independent, Gen Y is turning out to be great believers that “money matters”—and not just in a greedy way. Many workers already have savings put away, retirement funds, 401K plans; all as a result of the dot-com bust and even the current economic crisis.
However, Millennials have other economic issues to overcome—the rising costs of tuition and housing, as well as the high rate of unemployment. The job market may be a bit stagnant for current Gen Yers graduating high school and/or college, but that doesn’t change the fact that this generation is all about change; change, including from one career to another, creating retention and employee loyalty issues for companies hiring new employees. Not only does this pose a potential problem, but Millennials also put a strong emphasis on the need for work-life balance, a notion which goes against the more traditional way of thinking that work is your life. An article at PR.com presents a report of Generation Yers in the financial industry challenging employers for more dynamic careers.
Generation Y is viewed as a more intelligent, technologically advanced group with a bit of a superiority complex—the superiority issue making it difficult for employers to draw Millennials to be part of their workforce. However, this is the current trend that is not going away anytime soon—think of future generations with the same mentality, but even more so. Rather than trying to get droves of individuals to change a widespread attitude, companies need to find ways to change their approach for hiring and retention in order to captivate and maintain the interests of Generation Y.
How do you think the workplace will change in the future? What are your opinions regarding Generation Y?
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Filed under Employees, Human Resources · Tagged with employers, entry level jobs, finding new employees, Generation Y, hiring, Hiring Employees, job advice, millennials, new hire, new jobs, recruiting
8/05/2010
The Workplace and Generation Y : DreamFetcher Blog | Job Advice and Recruiter Advice
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