1/31/2008

Now Hiring Generation Y

With the baby boomers starting to retire, companies are now seeing the need to compete for the best of Generation Y. This article stated that more than half of Generation Y's graduates move back to their mom and dad's house for the extra support and time to help them find the job they really want. Because Generation Y is being so picky, companies are having to be more creative as they try to woo this generation's different wants and needs. It was found that this generation cares more about work-life balance. Jobs that have good people to work with and support volunteering are important. I think it's interesting to see the difference of generations: our grandparents hated having days off because it meant less money, whereas this generation loves having the occasional day off (after expenses are paid for) because sometimes their enjoyment is more important to them than getting a few extra dollars.

11 comments:

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William said...

Well, companies are also realising that employing Generation Y is a win-win situation. Even though work time has been reduced, productivity has increased.

binoculars said...

It would be really interesting to watch how Gen X managers would manage Gen Y. These two generations are exactly opposite. Gen X manager would not feel very comfortable around Gen Y employee who text-message all the time (instead of actively listening). They are very technology savvy and can help companies a lot in that area. They can do their work faster, but there is one problem with this generation.

The problem is what I learned last semester, and it is that this generation do not have much brain power. Computers and other technologies does all the work for them. If they were to put on an isolated island (with no one around and no technologies), this generation would have a hard time surviving.

So tell me what you guys think!

Dr. Tufte said...

I take issue with the assertion that there is a "Generation Y" at all. These "generations" are generalizations invented by marketing and advertising firms, not concrete ideas.

Are people's views about what compensation evolving? Certainly.

Is that tied to a "generation". Perhaps this is only if you need a convenient label.

Grace said...

Good point Binoculars! I agree that we are heavily reliant on technology and would be handicapped without it. It's a matter of investing our time in worthwhile activities: why spend all day doing computations by hand when you can have it done by a computer in a matter of seconds thus freeing your time for work that a computer can't do. The sad thing is that we really are handicapped without the computer. Have you ever watched someone at a cash register try to count back your change when the computer doesn't tell them how much to give you? It is simple arithmetic, but many can't do it. That is pathetic!

Another intersting point in the original post & article is the idea of job hopping. For past generations (specifically our parents), it was normal for someone to work for the same company for their entire career. This is quickly becoming a thing of the past as employees are looking for career fulfillment that can't be attained from one company alone. We see jobs as stepping stones in our career path thus we job hop!

Gavin said...

Extra Credit - Dr. Tufte
The suggestion that compensation is evolving is a good assessment. Us so called "Gen Y" workers are really just demanding what are parents have told us we can get.

William said...

Dr. Tufte,
I disagree. I think there are many differences between each generation. I do not believe that it is necessarily just a marketing/advertising idea. Generation Y is very different then its past generations. Gen Y is the first generation to be brought up with the Internet. This one cause has created many changes. Generation Y is known to be much more technological savvy, they are much better at multi-tasking, yet their attention span is much shorter than previous generations. Also there upbringing is completely different, most come from homes where both parents work and they have little time spent with their parents. Most come from untraditional households and the majority of fathers are not present. This has in effect caused a different outlook on morals and ethics due to that missed time. Instead of kids learning morals/ethics from their parents they learn it from the TV and Internet. I could go on about the characteristics that are different for Gen Yers and how managing them is going to be very different. I think that it is imperative that managers realize there are differences because if they do not then they will be unable to correctly manage them. Obviously not every person that was born during the Generation Y period is going to be the same, but I do believe there are similar characteristics.

Reagan said...

Dr. Tufte said that "generations" are generalizations invented by marketing and advertising firms, not concrete ideas. Though this is used for marketing and advertising I don't believe it is a convenient label and it does lay groundwork for labeling a generation. The author may be a little off base with their argument about employers trying to cater to Generation Y's supposed need for flexibility in the work place. However, employers need to be aware of the workplace behaviors of a generation that has grown up as the first digital generation. Communication, instant information and opportunities are instantly accessible. This definitely gives Generation Y an identity and gives insight to how managers need to manage. We also know that marketers and advertisers do their best to exploit the behaviors of each generation, Generation Y not being excluded.

TheFindlay said...

Dr. Tufte
Oh come on Professor, we let “Generation X” have theirs why can’t we have a fun name to be labeled by? I think it is because a lot of those kids are spoiled. College funds, my parents can’t use both of those words together in a sentence. I think a lot of kids move back because they have it too good at home. Why leave the nest when you keep getting fed, and clothed, and given cars, and game systems, and more food(that isn’t Ramen), and you get the picture. Compensation is not changing because we are better, it is because we are needy.

Dr. Tufte said...

I think if Generation Y exists, then solid statistical techniques will be able to pull this out of the data.

But ... did you notice ... not much data ... just generalizations.

Typically, confronting this sort of squishy concept with data and a computer shows there isn't much there.

battery said...

it is cool.