THE GEN Y ASSET

GENERATION SNAPSHOT
GENERATION		DEFINING CHARACTERISTICS
1.	Gen Y (Born 1982 – 1995)	Techno-Savvy & Connected 24/7 Optimistic Confident Comfortably Self-reliant Entrepreneurial Success Driven Inclusive Environmentally Minded
2.	Gen X (Born 1961 – 1981)	Sceptical Programmatic Adaptable Self-Reliant Informal Techno literate Diversity Minded Focused on Today
3.	Baby Boomers (born 1943-1960)	Competitive Optimistic Driven to achieve goals Focused on their children judgmental of differing opinions Political
4.	The Beat Generation (born 1925-1941)	Non-conformist Bohemian Cool Questioning authority Apolitical Anti-Intellectual
5.	The lost Generation (born 1880-1900)	Disillusioned Reactive Cynical about institution Realistic Pragmatic Risk-taker Critical

Source: A compilation by Deloitte consulting LLP of commonly accepted traits and defining moment by generation

              Baby boomers are retiring and gen x are opting for shorten hour.  That leaves Gen Y in the forefront of potential employees.  Gen Y are young.  Smart and bold, and have high expectation for personal growth.  They are also very affordable, and most are willing to work harder to prove themselves in trying times.

              The good news for employers is that Gen Y are hardworking and have the tools to get things done, fast.  They one clever and resourceful.  Multitasking is second nature.  They are eager to contribute and value progression.

              At the other end of the pole, they are incorrigible and opinionated.  Their eagerness for advancement translates to a preparedness to job hop.  They are less tolerant of authority and can see through inexperience.  The only real challenge to Andrew Lee, Executive Director of Deloitte Malaysia’s consulting practice, is whether we have the heart to adopt new cultures and new ways of doing things.

              Gen Y want to spend their time in meaningful and useful ways, and technology usually comes to the forefront to facilitate this need.

 

WOOING GEN Y
1.	Have a clear vision	Gen Y have a clear idea of what they want and where they’re headed
2.	Create a plan for change	Companies must have programmes for increased training, trusting, teaching and teamwork
3.	Don’t over-promised	Be honest about where the company is Gen Y appease up-front explanations
4.	Set a clear career path	-       Must adopt a leadership style which can inspire Gen Y to participate and everything to lead. -       Have a structured business management as Gen Y will be motivated to complete the given task and meet deadline.
5.	Compromise	Need to recognize Gen Y’s need immediate challenge and recognition.
6.	Harness IT	Allow Gen Y the tools and work flexibility to be mobile and connected 24/7
7.	Gadget are good	-       Multitasking is better -       Gen Y use their gadget and 17 literacy to full advantage and are ace multitasking.
8.	Expand beyond	-       Gen Y are attracted by the services beyond the traditional as they find them more challenging and more demanding in term of expose -       Gen Y are very mobile in as fast as IT is concerned.
9.	Engage and Communicate	-       Know what matter to Gen Y. -       Engage them through social networking sites like FB and Twitter -       Create platform for open dialogue and communications. -       Key Issues : ·        Conducive work environment ·       Better pay packages ·        Corporate responsibility ·       Work flexibility -       Communicate regularly and be open to their views.
10.	Provide leadership	-       Also provide guidance continued learning and professional development -       Plan to spend time teaching and coaching and be aware of this commitment. -       Ge Y yearn to learn and develop o   Provide an avenue for learning especially in soft skills via mentoring, coaching or rotational assignments. -       Put in place a structured human resources development programme.
11.	Provide structure	-       State goals clearly and assess progress regularly -       Define assignment and success factors
12.	Empower Gen Y	-       Gen Y welcome being held to high standards. -       Gen Y are hungry for knowledge and are equally hungry to prove their worth.

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Ng Poh Ling

The Gen Y Asset

Accountant Today, September 2009