With nearly half of India’s billion-plus people under the age of 25, we have the youngest population in the world. Economists call it the demographic dividend – an opportunity to harness the skills and talent of young people, in a growing economy, at a time when most countries have ageing populations.
Generation Y (generally comprises of people born between the years of 1980-1995) is recognised as marching into the work places like unruly and energetic guests gate crashing into a stifling party, shocking the hosts and the guests already present. They bring along with them extra-large baggage in the form of multiple digital technologies, their social networks, their tech-savvy culture, new ways of contemplating and new managerial forms. A recent study indicates that in the next five years, more than a third of the Indian workforce will belong to this Net Generation; therefore it’s imperative to understand them to manage them better.
Many demographic analysts say that Generation Y is an optimistic generation, with a much sunnier outlook than that of its predecessor, Generation X. The youngsters are open-minded and positive, open to ideas and new possibilities, optimistic about their work and the future, confident, independent, ambitious and competitive, have the desire and drive for entrepreneurship and making a difference, show keen sense of competition, both regional and global. They have a deep interest and pride in owning state-of-the-art technology, and for instant gratification.
The three important factors that motivate Generation Y at work are; ‘Opportunities for Learning’, ‘Quality of Life’ and ‘Work Colleagues’. Their creativity and productivity is triggered by three major factors: The people around them – their colleagues, collaborators and leaders; the ambiance and atmosphere – in the workplace through the design, layout, facilities and also through people; and the technology – solutions they are provided with. Gen Y is good at engaging in multiple tasks, filtering out distractions and juggling numerous projects. The bad news? Shorter attention spans, the constant need for stimulation/ entertainment and a blurring of the lines between work and leisure time while on the job.
Generation Y has trouble adjusting to an environment that does not revolve around its needs and concerns. The youth have a shifting focus to ‘me first’: my work, my things, my friends, my family and my world. It also suggests that work and family issues will remain high on the list of employee priorities – flexible work environments that allow strong family connections will continue to be highly valued. Generation Y is a highly sociable group that uses social media, cell phones, and the Internet to keep in touch with friends, families and colleagues. Because of their social nature, the members of this generation typically enjoy teamwork and want to feel like valued members of the organisation they work for. Apart from high pay packages, they expect continuous recognition and feedback from their colleagues and superiors. Gen Y has an unorthodox approach to career management that does not parallel traditional paths. Security is valued by younger workers, but is defined as career security whereby they build portfolios of transferable skills permitting them to change jobs.
Due to these diverse perspectives, motivations, attitudes and needs of Gen Y, the dynamics of managing them also change. Therefore, human capital management systems, processes and procedures will demand alterations. Consequently, the introduction of Generation Y into the workplace will raise the possibility of both intergenerational cooperation and intergenerational conflict which will need to be addressed by organisations.
The higher educational institutions also face a serious problem as many teachers belong to Generation X and therefore, there is a gap between the thinking processes and perspectives of teachers and taught. The Generation X teachers have, therefore, to realise that they need to change along with the time to meet the educational and intellectual aspirations of Generation Y. Lots of food for thought for teaching community!
Authored by Dr Farida Virani, Professor – HRM & Behavioral Sciences, MET, Mumbai and a senior member of Higher Education Forum (HEF).
