Generation Y – a challenge for businesses and HR staff. What does the so-called Generation Y expect from businesses? What do businesses need to bear in mind for the future to ensure that they are seen as an “attractive” employer?
According to Deloitte’s Graduate Survey, Generation Y are looking above all for job security, a work-life balance and career development. What kind of manager does that translate to?
Generation Y is usually defined as young people born after 1980. The list of the demands they make of future employers is indeed very long. But who says that only those under 35 are looking for new working models? There’s plenty of room for improvement in one of the most valuable areas of our lives.
Which models of new management culture will be implemented by which businesses remains to be seen. We’ve summarised the most interesting trends.
Trends in a new management culture for Generation Y
Job security: Following the economic crisis, Generation Y is increasingly worried about job security. Interestingly, this is a trend which is more prevalent in females than males. The managers of the future will be able to reassure employees, and offer them either security or the opportunity to develop their skills to be prepared in case of downturn.
Internal Communication: With regard to comfortable working environments, Generation Y are known as wishing to be treated fairly, and place great value on considerate management. Arrogance and inconsiderateness are frowned upon, as are management figures in “frivolous clothing” or who interact in a chummy manner. As already mentioned, this generation loves its freedom but is also at times surprisingly conservative. According to the Deloitte study, career development ranks more highly than financial opportunities for this generation. Our prediction: in future feedforward rather than feedback will be given and platforms that encourage cooperation within teams and the democratisation of information will be further developed. E-learning will also become increasingly important.
Private life: This generation is often seen as wanting the best of both worlds – work and play. First of all, however, it should be emphasised that these two areas of life can now merge together more than was the case for previous generations, although they should not be allowed to blend seamlessly. Ideally, companies should be responsible for a general framework for a healthy working climate, and employees will generally be more open to having professional matters flow over into their private lives from time to time.
Flexible working: Work-life balance is old hat, just like feedback. To keep Generation Y content and motivated in the long term, businesses need to grant a greater degree of flexibility, freedom and autonomy. Although still controversial now, many still foresee that sabbaticals, flexible working hours, part-time work, working from home and a more flexible working culture generally will have a determining influence on the workplaces of the future.
How do you picture the perfect employer? What kind of qualities should management teams have and what kind of management culture do you prefer?