Gen Y - Changing the Rules of the Game?

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Gen Y, the latest entrant in the multi-generational workforce, is a unique group. They are young, ambitious and dynamic; but their value systems at work are quite different from the other generations.

This new breed of socially connected professionals with multiple interests can (and probably will!) bring about a radical change in the work cultures of companies.

The big challenge facing organisations is not only building better working relations between the different generations, but also engaging Gen Y effectively to bring about a new and positive work culture that benefits everyone.

This presentation looks at the Gen Y workforce in Singapore and gives a few insights on which areas companies should be looking at for effective engagement with Gen Y.

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Gen Y - Changing the Rules of the Game?

  1. 1. Gen Y: Changing the rules of the game? 2 Aug 2013 PMG Meeting, Singapore
  2. 2. Let’s first understand the multi-generational work force
  3. 3. Traditionalists (Born before 1946)
  4. 4. Baby boomers (Born between 1946 and 1964)
  5. 5. Gen X (Born between 1965 and 1980)
  6. 6. Gen Y (Born after 1980)
  7. 7. Traditionalists Baby Boomers Gen X Gen Y
  8. 8. Traditionalists Baby Boomers Gen X Gen Y
  9. 9. Traditionalists Baby Boomers Gen X Gen Y
  10. 10. Traditionalists Baby Boomers Gen X Gen Y
  11. 11. Traditionalists Baby Boomers Gen X Gen Y
  12. 12. Traditionalists Baby Boomers Gen X Gen Y
  13. 13. Traditionalists Baby Boomers Gen X Gen Y
  14. 14. Traditionalists Baby Boomers Gen X Gen Y
  15. 15. Traditionalists Baby Boomers Gen X Gen Y
  16. 16. Traditionalists Baby Boomers Gen X Gen Y “i”
  17. 17. Traditionalists Baby Boomers Gen X Gen Y
  18. 18. Traditionalists Baby Boomers Gen X Gen Y
  19. 19. Traditionalists Baby Boomers Gen X Gen Y
  20. 20. Traditionalists Baby Boomers Gen X Gen Y
  21. 21. Traditionalists Baby Boomers Gen X Gen Y
  22. 22. Talented Purpose driven Social Mobile Tech-savvy
  23. 23. But if you ask the older generations…
  24. 24. High expectations Don’t care about work Instant gratification Cryptic messages Job hoppers
  25. 25. “Is this a language or what?” PLZ L8R OMG LOL BRB ?4U ROTFL
  26. 26. “Is this a language or what?” Laugh Out Loud Be Right Back Oh My God! PLease LateR Question for yoU Rolling On The Floor Laughing
  27. 27. But, are they misunderstood?
  28. 28. Highly adaptable to change
  29. 29. Value flexibility and want work/life integration
  30. 30. Desire a fun, collaborative and challenging work culture
  31. 31. Gen Y prefers relationship-oriented leaders Source: “‘Y’ Are They Different? – A Study Of Gen Y at Work, Their Views And How They Are Viewed”; A joint research report by The GMP Group & Temasek Polytechnic
  32. 32. Career and personal development opportunities are key motivators
  33. 33. Let’s take a look at the Singaporean workforce…
  34. 34. 60% 2012 The Singaporean Workforce Gen X or Y Source: “Harnessing The Potential of Singapore’s Multi-Generational Workforce”; Commissioned by the Tripartite Alliance for Fair Employment Practices (TAFEP)
  35. 35. 75% By 2025 The Singaporean Workforce Gen X or Y Source: “Harnessing The Potential of Singapore’s Multi-Generational Workforce”; Commissioned by the Tripartite Alliance for Fair Employment Practices (TAFEP)
  36. 36. Now, let’s take a look at the global manufacturing industry…
  37. 37. Aging workforce Shortage of high- skilled workers Manufacturing doesn’t have a great image in the mind of younger workers Other industries offer more attractive alternatives for talented young people
  38. 38. Increased productivity More complex jobs More high-skilled people are required! The Talent Paradox
  39. 39. What does all this mean for the industry? Multi- generational workforce Manufacturing industry challenges Changing demographic landscape
  40. 40. You cannot ignore the tsunami on its way…
  41. 41. Gen-Y and younger generations will form the majority of the working population in the near future “Common sense” will get re-calibrated!
  42. 42. What challenges does this throw up for the industry?
  43. 43. Bridging the present… How do you deal with a multi-generational work force that finds it difficult to deal with each other? How do you align the differing values into the work culture?
  44. 44. … and the future How do you recruit and retain a generation of people whose loyalty to the organization is questionable?
  45. 45. Here are some things that you can do…
  46. 46. Build a sense of purpose and meaning in work Encourage mentoring
  47. 47. Review and adjust communication styles Recognition with frequent positive feedback
  48. 48. Raise supervisor awareness… and capability! Understand and appreciate the values of the incoming generation
  49. 49. Embrace flexibility Learning (for all round development) Work timings Work location … …
  50. 50. Provide open social networks with honest communication
  51. 51. And if you succeed…
  52. 52. Becomes…
  53. 53. A presentation by Saurabh Anand Accord Business Solutions Pte. Ltd. 146 Robinson Road, #07-01, Singapore 068909 Phone: +65 9298 9590 Singapore | India | UAE www.accordsingapore.com.sg | saurabh@accordsingapore.com.sg

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