Generation Y and the new Working World Order

The new generation has embedded itself into the work force. Gen Y, which is defined as people born between 1983 – 1995 actually now comprises of around 18% of our workforce and with this new generation come some very new demands and desires.

1.      Flexible Hours

 

Flexibility in Gen Y’s working environment is extremely important; in fact it seems that it ranks above pension contributions and bonus’ on offer from potential employers. With the new age of accessibility there’s a blurred line between office and social hours. Lots of the workforce now is on Linkedin before they go to bed.  Technology and the use of it must be embraced.

 

2.      Ambition and Knowledge

Training and development is another key attribute Gen Y looks for in a potential employer which feeds into the overall level of ambition that Gen Y have. About 33% of the workforce now look at the ‘ability to progress rapidly’ as a primary pull factor for prospective employers and about 50% see training and development offered by the company as nearly top on their priorities. Remember this is the Youtube generation, visual and user friendly accredited in/out house courses for continual learning and development is essential.

3.      Type of Work

Gone are the ‘job for life’ days. Gen Y want to be interested in what they are working on. They are likely to change jobs more regularly than other generations to compliment personal interests. Knowing the nature of the work they are undertaking is very important. However similar to other generations Gen Y do value job security.

4.      Entrepreneurship

 

Running their own business is also important to Gen Y. Over 60% would like to have their own enterprise someday making this type of employment one to aspire to. With the mainstreaming of popular televisions shows such as Dragons Den and Shark Tank, this type of opportunity has been normalised. Savvy prospective employers can capitalise on these traits by building a supportive, collaborative and innovative work culture where entrepreneurial ideas and solutions are encouraged.

With this new complex Generation now almost full embedded into our workforce the shift of changing priorities is truly underway.

Technology has blurred the lines between our time and company time and more than 50% of companies agree than social media is a distraction at work. However, it is now more than ever, imperative that companies get their strategies correct in all aspects of technology to ensure that they are not excluding the best Gen Y talent.