How Generation Y is Fitting in Todays Workforce - Research Paper Example

How Generation Y is fitting in today’s workforce The workforce today is comprised of four generations of completely diversified workers. Generation X, Generation Y, Boomers, and traditionalists. These generations are a representative of the reservoir of talent upon which organizations draw their workforce. These generations have been shaped by historical influences and differ greatly in their values and attitudes towards work. Therefore, employers have been forced to understand the differences among these generations, to help them establish awareness, and not just fast rules. Generations values and concerns for an organization will always evolve with time, and employers who understand each generations perspective and the powers that shaped it, will have an upper hand when leveraging talent. Most employers are experiencing intergenerational conflicts; Boomers think Generation X tend to be impatient, Generation X view Boomers as being inflexible, while the both generations, consider generation Y spoilt for choice. Generation Y, on the other hand, view them as conservative and out of fashion (Nicole A. Lipkin 43). Generation Y, also referred to as GenMe or Gen Y can simply be described as the generation aged around eighteen to twenty five years that are motivated and technology savvy. Their behaviors and habits constrain their way of communication, working, acting, and how they relate to people. In other terms, this generation pertains to demographic cohort born between late seventies to mid nineties. This generation is heavily reliant on modern digital technology and media and expects fast information and entertainment due to its cultural diversity (Nicole A. Lipkin 45). Generation Y is adapting to the current workforce in several ways. With the current, competitive markets, most jobs require highly competent personnel, and Generation Y seem to always demand leadership roles, or perhaps climb the corporate ladder within a few months of their employment. This generation believes it deserves the position it demands, with or without experience. They expect immediate gratification resulting from their childhood, and do not intend to stay in the same position longer; they demand to be at the top of the organization within a short time. Employees of generation Y prefer performing their tasks remarkably and faster compared to their co-workers (Jean M. Twenge 8). Considering that a majority of the current workforce is headed for retirement, Gen Y is entering the workforce during a demographic shift. Considering that there might be a shortage of skilled workers, after boomers retire. Gen Y have been more tolerant of others opinions enabling them adapt ideas from older generations. With globalization becoming a current world trend, most of the Gen Y prefer being self-employed, rather than work for someone else. Although few among them succeed due to high start up rates. Globalization has encouraged Gen Y employees to join Unions, where they can share their views, exchange ideas, and find solutions concerning employment issues with members of other countries, and also act of a channel for learning new ideas (Jean M. Twenge 12). The current workforce demands vast ideas to be able to compete globally, and Gen Y does not only assist in replacing boomers, they bring with them fresh and better ideas, and tend to be a motivated and enthusiastic workforce. Gen Y is also widely using the media in redefining their career opportunities, ensuring they are up-to date with the relevant, required skills, and are aware of the jobs on demand. For this generation, a decent job is not only defined by the monetary gains. Their selection for positions is driven by their behaviors. They do not take a job aimlessly, but because they feel motivated working there, implying that Gen Y is more focused on making a difference in their company and the society. As organizations demand, Gen Y appreciates technology only; when it is significant to them. Gen Y prefer filling an employment application online, and are quick to recognize when an employer is using technology instead of the crucial parts of the process of hiring. Globalization has led Gen Y to demand interaction with knowledgeable and skillful recruiters. They demand specifics concerning any hiring company, the opportunities and possibilities (Nicole A. Lipkin 69). Generation Y prefer consulting before taking particular job openings. This generation is influenced adversely by their parents, and it is unlikely to find a Gen Y taking a job before consulting with family members or close friends. Generation Y does not realize the regulations as its predecessors, and some elements in the workforce tend to be particularly significant for this generation, including growth opportunity, challenging work, flexible schedules, and opportunity to showcase one’s skills. Being born in active parenting, they have been overindulged and always demand constant feedback. Employers can retain this generation by encouraging their values, training them, mentoring them, showing them how their efforts contribute to the organization, providing full disclosure, creating customized career paths and providing them with access to technology (Sheahan 204). . This generation tends to have a deferring attitude towards work, which is dissimilar from the traditional. Gen Y does not put much stress on when and how work gets done, but as long as it gets done. Some Gen Y even believe they can work at night. Their technological influences and addiction has even caused some employers to allow them use technologies like iPods, iPods and smart phones as long as work can be done efficiently. This generation is financially intelligent, since most of them were students in the dot-com bust. This gave them a chance to learn the crucial impacts of financial crisis, and how to manage and plan for such periods. Gen Y enters the workforces prepared and ready to make financially savvy decisions earlier before they are faced by a crisis (Lewis 894).   Generation Y’s preferred way of learning soft skills at work is on the job, through peer interaction, through feedback, discussion groups, assessment and one on one coaching. Their preferred way of learning hard skills is in classrooms, in workbooks and reading, one on one coaching, and through live instructions. Regarding supervision and feedback at work, they have been immediate and continuous. Generation Y is committed, most of them prefer remaining in their current organizations for the remainder of their working life, and are loyal when devoted to a cause, product or idea regarding their loyalty to the employer (Sheahan 214). This generation values work-life balance and strives to meet deadlines, multitask, are willing to learn new ideas, and use computers as they perceive these as the elements of success in their workplace. Their top developmental areas are decision making, skill acquisition in areas of expertise, and problem solving, while their preferred leadership attributes are dedication, excellent listening and being dependable (Nicole A. Lipkin 60). Since Generation Y works along a generation old enough to be their parents and grandparents. This has caused a clash of view, while at the same time co-operation from this generation. Generation Y’s do not want to appear as young children, and tend to struggle to fit in at work. With globalization, and the current global financial mix up and market meltdown, this generation tends to be concerned about its financial status in the future. As a result, they have a connection and tend to be loyal to their company. Furthermore, they can access information faster due to the existence of technology, and, therefore, expect instant pleasure leading to their desire for newer jobs and quicker career progression (Johnson Murphy 1310). Generation Y demands peculiar employee programs to achieve career management throughout their employment. These employees are willing to be working during weekends and in the evenings, and because they feel valued and are given challenging work by their employers, most of them put in extra effort if they know they are going to be recognized. In employing this generation, it has become indispensable for human resource managers to consider this groups thinking is also focused on the workplace culture, training, flexibility, variety, and management style that drives them. This generation is focused on striking a balanced between life and work; therefore, attracting them has proved cumbersome. This generation is attracted by collaborative culture and internships, rotational developmental programs, concentration on saving the world, leadership development, fun fitness, simplicity, and concentration on continuous education (Tolbize 10). Generation Y is a high performing generation with tons of data at their fingertips and can easily multi task. They have been able to embrace globalization by executing a combination of projects in several business domains, and are willing to live at any place so long as the company and job are satisfactory. This generation has easily adapted to the workforce because they are team oriented, attention craving, and achievement oriented (May 92). Generation Y is a techno savvy and interested in leadership, therefore, their preferred training method is professional training and online. Along with this, management games, experiential learning, peer learning, case studies, role playing and mentoring can be desirable development and training methods for this generation. The older Generation Ys depict similar characteristic to Generation X with the finance sector and community services as their top priorities, however, manufacturing is less preferred than retail with this older Generation Y. The younger Generation Y prefers working in the retail industry. Personal/recreational and community services are other sectors this generation prefers (Jean M. Twenge 16). Generation X can be defined as those born in the 1960s and 1970s. They have a higher understanding of technology since they have been raised in the computer era. Most of Generation X witnessed their parent’s job loss or divorce, as a result of downsizing compared to the other generations. Therefore, these cohort members tend to be less committed and independent to their employing firms, and most likely job hop to heighten marketability and view work life balance as particularly crucial (Tolbize 4). There are workplace differences between Gen Y and Gen X. The Gen X’s believe that able leaders can succeed while Gen Y believes that collaboration is essential with management in their preferred leadership style. In experience value, Gen X believes experience is not necessary since the world is ever evolving while Gen Y prefers to see experience in action, rather than pride (Tulgan 146). Concerning autonomy, Gen Y is always questioning, while Gen X just needs direction, and can do the rest. Gen X expects frequent feedback, while Gen Y requires immediate and constant feedback. For Gen X’s, the ultimate reward is freedom while for Gen Y’s, money talks. Gen X demand to learn continually, but Gen Y is driven by exam mentality (May 101). In addition, Gen X only works in the office and goes home, but Gen Y will work continuously as needed or until they get fatigued and bored. Gen X’s want to have a fantastic life to the fullest, when they are still young, but Gen Y are busy in their lives and need a lot of personal time. Gen X are committed in their working while Gen Y always have a ready exit strategy, and portray money as something that enables them to live their lifestyles, as opposed to Gen X who see money as a way of independence and freedom. These two generation’s concerns relating to changes at the work place and reasons for staying with a particular organization are similar, and both prefer informality, quick learning, embrace diversity and are tech savvy (Tolbize 10). Boomers can be described as those born between 1946 and 1965. They account for a substantial population of the North American population and have a crucial effect on the country’s economy. Therefore, they have been the focus on business plans and marketing campaigns. Baby Boomers plan to stay for the longest term, give maximum effort and are results driven at their workplace. The Boomers and Generation Y have similarities, but what is different concerning them is how they execute the similarities at their workplace; they both aim at personal achievement, and in making the world better, but technological knowledge is late for the Boomers to catch up. Boomers are proud for their past achievements, and demand that Gen Y learn first from them. Gen Y is different due to the ability to welcome changes and learn faster. Both generations have been exposed to wide learning experiences, but Gen Y is more willing to give up accustomed amenities, for a different satisfaction in performing their work (Tolbize 7). Boomers and GenY both have higher flexibility concerning arrangements at work; they value loyalty to an organization and social connections at their work place. They have personal growth, always want a chance to repay the society, value other rewards of work rather than just money, and prefer opportunities of working in dedicated teams. They also like challenging assignments, prefer new experiences, recognize achievements, seek greater responsibility and accountability, prefer increased productivity from getting a satisfactory work life balance, and prefer opportunities to explore their hobbies (Tulgan 132). Generation Y is clearly making waves in the workforce. Growing up in the age where technology and education is available has made this generation a product of their environment. They are the workforce of the future, and employers in all industries should understand and appreciate their values and qualities, in order, to recruit and retain them. This generation is techno savvy, connected, and addicted to the internet and cellular phones. They tend to be career minded, attach a lot of importance in the work they do, and aim to bring importance to their employers and the world as a whole. Indeed, this generation is a product of confidence, education and high self esteem. Gen Y will bring new ideas and formulas into the workplace. Sensitivity and understanding to their needs can be the key factor in training and retaining them. If any employer requires Gen Y to care for their company, they should also show they care for this generation. Works Cited Jean M. Twenge, Charles E. Lance,Brian J. Hoffman,Stacy M. Campbell. "Generational Differences in Work Values: Leisure and Extrinsic Values Increasing, Social and Intrinsic Values Decreasing." Journal of Management (2010): 2-22. Web. 30 April 2012. Johnson, Murphy. "Change in Job Values During the Transition to Adulthood." Work and Occupations (2000): 1307-1341. The Workforce. Web 29 April 2012. Lewis Cennamo, David Gardner. "Generational Differences in Work Values, Outcomes and Person-Organization Values Fit." Journal of Managerial Psychology (2008): 891-906. Web. 29 April 2012. May, Christopher Robert. Generational Differences in Work Values. North Carolina: University of North Carolina at Charlotte, 2001. Print. Nicole A. Lipkin, April J. Perrymore. Y in the Workplace: Managing the "Me First" Generation. Michigan: Career Press, 2009. Print. Sheahan, Peter. Generation Y: Surviving (and Thriving) with Generation Y at Work. New York: Hardie Grant Publishing, 2005. Print. Tolbize, Anick. "Generational Differences in the Workplace." Research and Training Center on Community Living (2008): 1-15. Web. 29 April 2012. Tulgan, Bruce. Not Everyone Gets a Trophy: How to Manage Generation Y. San Fransisco: John Wiley & Sons, 2009. Print. Read More