Understanding Young Working Professionals
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This document discusses generational differences in the workplace and managing Generation Y employees. It outlines key characteristics of Baby Boomers, Generation X, and Generation Y regarding their core values, education, communication styles, attitudes towards work and authority. When managing Gen Y, the document recommends listening to them, providing an employee-centered workplace with freedom but also structure, guidance and feedback. Managing Gen Y requires balancing freedom with boundaries to provide the flexibility they expect but also the leadership they need. The aging workforce is also discussed, with the number of people over 60 growing significantly in many countries.
Understanding Young Working Professionals
- 1. Dr. Paul Englert APAC Director Psytech International PhD I/O Psychologist Understanding Young Working Professionals
- 6. Outline • Generational differences • Managing Generation Y • The aging workforce
- 7. Baby Boomers (1946 -‐ 1964) Generation X (1965 -‐ 1980) Generation Y (1981 -‐ 2000) Core values • Optimism • Involvement • Skepticism • Fun • Informality • Realism • Confidence • Extreme fun • Social Family • Disintegrating • Latch-key kids • Merged families Education • A birthright • A way to get there • An incredible expense Dealing with money • Buy now, pay later • Cautious • Conservative • Save, save, save • Earn to spend Communication media • Touch-tone phones • Call me anytime or meet me in person • Mobile phones • Call me only at work or meet me in person • Smartphones • Write me an email or a leave a voicemail ASAP Personal and Lifestyle Characteristics Generational Differences
- 8. Workplace Characteristics Generational Differences Baby Boomers (1946 -‐ 1964) Generation X (1965 -‐ 1980) Generation Y (1981 -‐ 2000) Work is… … an exciting adventure … a difficult challenge … a contract … a means to an end fulfillment Attitudes toward authority / rules • Some may still be uncomfortable interacting with authority figures • Are comfortable with authorities and are not impressed with titles or intimidated by them • Find it natural to interact with their superior • Believe that respect must be earned Attitudes toward loyalty to their employer • Value company commitment and loyalty • 65% would like to stay in their organization for the rest of their working life • Less loyal to companies than previous generations but loyal to people • 40% would like to stay in their organisation for the rest of their working life • Committed and loyal when dedicated to an idea, cause or product • 20% would like to stay in their organization for the rest of their working life
- 9. Baby Boomers (1946 -‐ 1964) Generation X (1965 -‐ 1980) Generation Y (1981 -‐ 2000) Perceived elements of success • 82% are willing to learn new things • 77% meet deadlines • 74% are willing to learn new things • 75% meet deadlines • 58% are willing to learn new things • 62% meet deadlines Preferred leadership attributes • Credible (74%) • Trusted (61%) • Farsighted (57%) • Credible (71%) • Trusted (58%) • Farsighted (54%) • Listens well (68%) • Dependable (66%) • Dedicated (63%) Feedback and rewards • Don’t appreciate it • Money • Title recognition • Ask directly for feedback • Freedom is the best reward • Assume to get feedback whenever they want it • Meaningful work Motivating messages • “You are valued” • “You are needed” • “Do it your way” • “Forget the rules” • “You will work with other bright, creative people” Interactive style • Team player • Loves to have meetings • Entrepreneur • Participative Generational Differences Workplace Characteristics
- 10. Be Jlexible and open-‐minded! Managing Generation Y • Listen to millennial employees • Provide an employee-‐centered workplace, that allows freedom • Encourage the millennial’s “can-‐do” attitude • Challenge them with different tasks • Offer opportunities for training and provide the chance to grow in the position
- 11. But don’t forget to… Managing Generation Y • Provide structure • Provide leadership, guidance and feedback • Consider, that every Gen Y employee is different (some may prefer a more traditional workplace)
- 12. Managing Generation Y Managing Generation Y is a constant balance: Provide freedom and power in the decision making process Provide structure, boundaries and consequences
- 14. The Aging Workforce 60+ segment grows to 20% in almost all industrialised nations
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