Generation Y-ers (14-30 year age group) are the largest, most socially aware generation to date. Those not in the workforce are at school or university.
While the baby boomer generation challenged many of the social norms on a mostly local level, the "Why" generation have experienced social and environmental issues on a global scale via the internet.
The information age shapes their work styles. They use multi-modes of communication. They have an increased awareness of the environment, drought, climate change, sustainability and globilisation. They are likely to have multiple careers and believe two years is a long-term commitment to a job. Therein lies a major problem for many employers – how to retain younger workers with itchy feet.
Many employers admit its difficult dealing with these brash, super-confident, ambitious, technology-savvy, impatient for promotion 20-somethings.
 | In most cases it’s not a matter of disrespect for the employer, they just want things quicker, faster than previous generations. By 2020 other generational workers – the silent generation (born 1920-44), baby boomers (1945-63) and generation X (1964-74) – will be in the minority. |
Gen Y’s now make up about 14 per cent of the workforce, but in just over a decade they will be the largest group, with an estimated 42 per cent. Business now realises it must become more innovative and flexible to attract and retain this radical new wave of employees.
Many businesses fear they will lose talented Gen Y staff unless they don’t do things differently. The same applies when dealing with Gen Y consumers. When polled, 69 per cent of Gen Y-ers say they consider a company's social and environmental commitment when deciding where to shop. About 83 per cent say they will trust a company more if it is socially and environmentally responsible. Of course product is still "numero uno" in what drives their brand choice.
Having products that are market leaders and a brand that communicates it cares about social/environmental causes in the world is golden in their eyes.
Having products that are market leaders and a brand that communicates it cares about social/environmental causes in the world is golden in their eyes.
Gen "Why"-ers think first about where they want to live and what kind of lifestyle they want to lead. Then they place their careers into that context and find jobs. They believe that life is to be enjoyed and see no reason why they can't balance work, family and personal lives. Brands need to understand how much this group wants to blend their lives into one seamless experience. This is very different from the career choices their parents made where "the job" dictated everything. Enjoying life frequently took a back seat to career, and was put on hold until after retirement. This idea of enjoyment first is often hard for senior "boomer" managers to understand. Yet, if they allow for and consider some newer more flexible work style approaches for Gen Why-ers, they will see much higher productivity.
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