Tuesday, February 24, 2009

Generation Y.

I think I am coming to understand more about Generation Y. Generation Y are the cool generation, they embrace brand and live in the new world of digitize communication. Generation Y are the group born between 1979-1994 and some say the earliest 1976 and 2001 being the latest, so roughly around ages 15-28. This generation is the talent that organizations have to work hard to manage. I mean, graduates come to work, with blackberry’s which they want to sync with their new given company PC, wait did I say PC, sorry laptop’s, so that they able to work remotely, they come in equipped with most Microsoft Office functions, which a CEO might not be able to remember fast-key commands and most importantly they come in with rich family values, corporate expectations and new age digital social communication.

Well, the way I see it, Generation Y is impacting the workplace and will continue to change the workplace because, these groups bring new set of values, new sets of working ethics, new sets of thinking and their own unique set of setting their goals. They have gone through university, they know which organization they have to work hard to get into, they are governed by goals they have to achieve (getting a degree) to simply fit into a conform society. They generally know what they want to do.

The aim for an organization now is to retain young talent. In my experience, loyalty factor is about 2 years until they start exploring new avenues. Organizations have to cater to their needs. They have to understand that remuneration packages have to meet their needs because of their standard of living otherwise they cannot and will not join another organization. Their bosses have to know of their goals and to help them achieve it, of course inline with the organization culture and value. Most friendships are also formed in an organization and a lot of young workers will generally choose to work where most of their friends go. So it is quite important that organizations are aware that there are so many factors that govern young workers in and out of the office such as time. It is sort of like organizations have to drive these new age strategies to retain young talent and to respect their needs.

I can actually keep on writing and giving examples but that will just take too long. But one of the hardest factors that will govern Talent Acquisition, Retention and Recruitment is the lengths corporate organizations are willing to go to cater towards new generations. It is how you understand and able to create a healthy, dynamic and a driven organization that attracts and retain new talent.

Once I have read up on more sources, I will blog about how new and dynamic companies are in a way moving towards new workforce/place strategies. Just think how the organization Google works.

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