Generation Y is the generation that was born between circa 1980 - 1994. This range of dates varies from source to source, however for our study we will take that the oldest of Generation Y is currently aged about 27 and the youngest being about 13. On a world wide basis, the use of the term Generation Y seems to be restricted to the Western World
A company vision that seeks to make a positive difference in the world...Generation Y has a core need to make a difference and affect the world for the better " Work needs to matter - make it matter "
A set of shared values that are actually lived….. the company walks its talk!
Flat organizational hierarchies...Generation Y value abilities and skills more than positions
Divestment from dictatorial regimes...Generation Y are not well suited to command and control type management
Valuing the development of people...Generation Y want their work to help them to ful fil their potential and dreams
Ethical and sustainable operation...Generation Y are highly supportive of CSR
Affinity groups for shared learning and working....Generation Y love to learn, share knowledge and work in teams
The demographics show that the Generation Y are a prominent section of the workforce - currently 20% of the workforce and rising to 40% in 2010. Employers are starting to realise that with the upcoming Baby Boomer shortage through retirement that in the future they have no choice but to accommodate Generation Y if they want to retain a robust competitive advantage.
In the next few years, Generation Y workers will be in the position of asking for what they want from their work from their employers.