Challenges FaCing gen Y - Philippine Institute for Supply ...

fully take its place in the work world.
That’s why employers need to understand
Generation Y’s priorities, work
style and ways to attract Generation Y
workers around the world in today’s
global economy.
Schwartz says Generation Y is different
in both “fundamental and interesting
ways.” He calls them true digital
natives who learn and work differently
than the generations sitting next to them
in the workplace. “This is the generation
that grew up multitasking, but they
don’t see it as multitasking; it is just the
way they live and work.” They have
always been wireless and never tethered
to a desk, computer or phone. “So
depending on their jobs, they believe
they can work anywhere, anytime,” he
says. “There is a new normal around the
way Generation Y thinks of work.”
Deal says Generation Y is typically
well-educated — it has a higher
percentage of college degrees than
any generation before it. Gen Y also
understands the need to be continuous
learners. “Organizations that provide
time and financial support for continuing
education will be much more
attractive to the best and the brightest
of this generation,” she explains.
Compensation is, of course, important
to Generation Y, but in a unique
way. Schwartz says Gen Y workers
expect they will be paid well, but they
also have high expectations around
nonfinancial issues. He says young
workers are interested in a company’s
culture and values around social and
community involvement. “Community
involvement is something that attracts
them and keeps them at a company.
It is a generation that appreciates that
they can contribute to the community
through their business organization,”
he adds.
Generation Y has its unique attributes
because, like all generations, it
reflects the culture in which it grew up.
Deal says, however, when a new generation
begins taking its place in the business
world, the generations are more
alike than different. “Workers want
to be respected, paid well, perform
interesting work, be with coworkers
and managers they like and respect,
and have the opportunity to move up,
to learn and develop,” she explains. In
those basic employment goals, generations
have been consistent over time. ISM
Mary Siegfried is a senior writer for Inside Supply Management ® .
For more information, send an e-mail to author@ism.ws.
Generation Y Around the World
Because companies operate around the world, business leaders need to understand the various generations of workers in a global
context. Just as executives need to understand that customers are different depending on where they live around the world, Generation
Y is not the same in every country, says Jeff Schwartz, principal for Deloitte Consulting LLP. In the article Talking about
Whose Generation?, Schwartz, David Hole and Le Zhong examine generations in several emerging economies.
Some of the findings in the Deloitte article include:
In China, workers born between 1980 and 1989 are the first generation of single children after the introduction of the One Child
Policy, growing up in an environment of high expectations. As a group, this generation has a reputation for being “individualistic and
confident but also self-centered and rebellious.” Compared with other generations in China, they are regarded as innovative
and open-minded toward new ideas and approaches.
In India, Generation Y workers have fully embraced a career model of rotation among employers as
they pursue career advancement. They value talent programs that meet their development needs
and opportunities for advancement, such as the opportunity to work globally.
In Japan, the employment attitude of those born toward the end of the bubble
economy (1986-1995), known as Generation Z, were shaped by their parents’ struggles
during the Japanese recession. These workers “typically demonstrate a clear
bias toward stable corporate jobs and have benefited from opportunities created
by the economic recovery and the retirement of the first baby boomers.”
In the article, Schwartz encourages global companies to create countryspecific
talent strategies, rather than standardizing talent management
plans, and suggests working with local leaders who understand the different
aspirations of the generations that make up the work force.
© Institute for Supply Management . All rights reserved. Reprinted with permission from the publisher, the Institute for Supply Management .
www.ism.ws August 2011 Inside supply management [ S8]