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Facts About Generation Y in the Workplace and Beyond

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Facts About Generation Y in the Workplace and Beyond

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More and more attention is starting to be paid to the working and spending habits of the biggest generation since the Baby Boomers: Generation Y. With all the potential of a new and hopefully more engaged workforce, it’s important to stay informed about who researchers say “are on track to become the most educated generation in American history.”

Here are a few things you may already know about Generation Y:

-Also known as “Millennials”

-Born 1980 to 2000

-80 million strong

-Grew up with school shootings, 9/11, Hurricane Katrina, Iraq

-Plagued with high levels of student debt

-Proficient with technology, often called “Digital Natives”

-Personality characteristics: confident, social, celebrate diversity, collaborative
But let’s dig a little deeper, shall we? Here are 36 facts of note (all based on research) about Generation Y

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Margaret Kirby, managing director of the recruitment company Group, says Gen-Y are high maintenance employees but they also present opportunities for employers who are prepared to give them the attention and training they require. Here's Ms Kirby’s top 10 tips for managing Gen-Y:
1. Retention starts with recruitment. Gen-Y candidates are interviewing you just as much as you are them. Be upfront about what differentiates your organisation, how your people have developed and progressed and what future opportunities are available to them.

2. Be flexible. Work/life balance is vital to Gen-Y individuals. Develop a flexible work/life plan that suits both them and the company and acknowledge their interests outside of work.
3. Provide the ‘why’. Put the Gen-Y job in context. Provide them with the big picture and then narrow it down to demonstrate the important part they each play in contributing to it.
4. Provide regular and constructive feedback. The once yearly annual review is not enough for Gen-Ys. They require and seek constant feedback and more involved management.
5. Set clear career paths and goals. Set realistic, time-bound goals and make it clear that achievement will equal promotion. Then make a plan with the employee and monitor their progress.

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