Wednesday, March 30, 2011

Generation What? Generation Y .....

Generation Y is the money spending generation, having seen economic expansion and experienced the booming economy, money has allowed for travel, gadgets and fun. Let’s take a closer look.

Generation Y / Gen Yer / Generation Next / Millennials  / Echo Boomers / 24x7’s

Born: Between  years of 1977 to 1994 and 1981 to 2000,

Age: Between 11 and 34

Education:  Seen as an incredible expense but the most educated generation, they will continue to study to enhance themselves in the work environment

Influences: 9/11 - World Trade Center, Pentagon attack, Oklahoma bombings, terrorist attacks, AIDS, Internet access made available, Kids shooting kids, School uniforms, Death of Princess Diana and Mother Teresa, Timothy McVeigh execution, Globalization, George W. Bush. There major influences are Friends, The Simpsons, Media and sports stars.

Family: Comfortable with a looser family structure, single mother / father family units, merged families (step mother or father) and have a new respect for the family unit.   They are coddled kids, every child gets a prize even when you come last.  Their parents have protected them from all the wrongs / evils of the world, and they are therefore more sheltered than any other generation.  They are kept busy, with homework, after school activities and most of these kids have schedules.  They consider their parents as their heroes.

Money: Have grown up in a world that has seen economic expansion.   They are eager to spend money and therefore work to indulge in fun and gadgets. They shop around for the best deals and bargains. They are part of the purchasing power of the family and take part in purchasing decisions.

Values: Achievement oriented, loyal, confident, diverse, fun, sociable, techno savvy, spiritual, they want everything now, optimistic, realists, members of a global community, high morals and very tolerant, competitive, like personal attention, street smart, and Individual in their thinking.  They value their lifestyle over upward mobility. If presented with a work promotion that will throw their life out of balance, they will choose their lifestyle.

Motivation:  They value their children, parents and family, they believe they can change the world via technology, they hope to be the next great generation to turn all the wrongs into rights.

Work: Ambitious but not entirely focused. They want a balance between work, life, community involvement and self-development / mentoring by managers.  They are entrepreneurial, effective, tenacious and good at multi-tasking but will be gone at 5pm, they view work as a means to an end and live for the weekends.

They look to the workplace for direction and to help them achieve their goals.  They will test authority but will seek them out when they need guidance and more readily accept older leadership than other generations.  Gen Y are global and networked, they have grown up in a world with cell phones, computers and the internet, they are always connected. They believe they can work flexibly anytime and anywhere, and that they should be evaluated for their output rather than where and when they got it done.  They want long term employment, but on their own terms and with more of a collaborative work environment. There is a decrease in career ambition and would rather have more family time, less travel and less personal pressure.

 “Me First “ Attitude in work life.

An Expat Gen X person, would be good in an organization looking for flexible, creative and ambitious candidates. This generation are willing to learn from managers and are willing to be molded into the organizations culture and goals.  They would not be the group of candidates required for their own experience and knowledge, but are rather seeking to gain this from the company they go to.

And in History…

1978 - Mass suicide in Jonestown

1979 - Three Mile Island nuclear reactor nears meltdown

1979 - US corporations begin massive layoffs

1979 - Iran holds sixty-six Americans hostage

1980 - John Lennon shot and killed

1980 - Ronald Reagan inaugurated

1986 - Challenger disaster

1987 - Stock market plummets

1988 - Terrorist bomb blows up flight 103 over Lockerbie

1989 - Exxon Valdez oil tanker spill

1989 - Fall of Berlin Wall

1991 - Operation Desert Storm

1992 - Rodney King beating videotaped, Los Angeles riots, child focused violence

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