Generation Y Study In China Whitepaper


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Great challenges accompany social progress
and change. It seems like it was only yesterday that managers were struggling with how to attract and retain members of Generation X. Today, managers need to concern themselves with the challenges of the “Post-80’s” group:Generation-Y (Gen-Y).

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Generation Y Study In China Whitepaper

  1. 1. Generation-Y: Challenges and Strategies for HR Management This white paper’s copyright is reserved by IBM, Universum and Egon Zehnder. Not for commercial use. IBM (International Business Machines) IBM, founded 1911 in the United States, is the world's largest company for information technology and business solutions as well as the permanent leader in the computer industry. IBM is also the leader of supercomputer UNIX servers (main delegates are Deep-Blue and Blue Gene). Universum (Universum Communications) Universum, founded 1988 in Sweden, is the leading employer branding consulting company. Each year, over 300,000 people in 30 countries worldwide participate in their career preference and Ideal Employer Survey. Egon Zehnder International Egon Zehnder International, founded in 1964, is the largest managerial consulting partnership company in the world. Its main service is committed to exploring, assessing, and recruiting the most intelligent business leaders to give clients a greater advantage.
  2. 2. This white paper’s copyright is reserved by IBM, Universum and Egon Zehnder. Not for commercial use. Version 2.0 (Updated on 19 Nov 2008) IBM (International Business Machines) IBM, founded 1911 in the United States, is the world's largest company for information technology and business solutions as well as the permanent leader in the computer industry. IBM is also the leader of supercomputer UNIX servers (main delegates are Deep-Blue and Blue Gene). Universum (Universum Communications) Universum, founded 1988 in Sweden, is the leading employer branding consulting company. Each year, over © 2007 Universum Communications Sweden AB. 版权所有@d250@ 300,000 people in 30 countries worldwide participate in their career preference and Ideal Employer Survey. 未经 Universum Communications Sweden AB 的允许,不得对本报告 Egon Zehnder International 中的任何信息进行翻印。 Egon Zehnder International, founded in 1964, is the largest managerial consulting partnership company in the world. 鉴于统计调研工作的特性,大规模的资料收集、整理和分析过程中 可能会出现误差。 Universum Communications Sweden AB 对该误 Its main service is committed to exploring, assessing, and recruiting the most intelligent business leaders to give clients a 差而产生的任何损失、损害不承担责任。 Universum AB Jakobsbergsgatan 22 P.O. Box 7053 SE-103 86 Stockholm Telephone +46 (0) 8 5620 27 00 Fax: +46 (0) 8 5620 20 70
  3. 3. Index Introduction 4 Summary 5 Who Are Generation Y? 7 What Does Generation Y want? 8 Salary and Benefits 8 Expectation for Career Development 9 Social Relationships and Networks 11 Preferred Management Style 12 Communication Channels and Performance Feedback Leadership Style and Redefinition of Good Performance Mentoring Systems Purpose of Work 14 Preferred Methods of Compensation 14 Concerns of the New Generation 15 International Experiences 15 Corporate Social Responsibility 16 The Balance Between Work and Life 16 Channels for Finding Jobs 17 How Do We Manage Generation Y? 18 Further Thoughts on What Generation-Y Brings to Businesses 20
  4. 4. Introduction Great challenges accompany social progress were unprepared for Gen-Y’s working style and change. It seems like it was only yesterday when they first entered the workplace, and this that managers were struggling with how to had a great impact on many companies. To attract and retain members of Generation X. respond to this new challenge, companies in Today, managers need to concern themselves the United States has spent several years and with the challenges of the “Post-80’s” group: considerable resources in researching Gen-Y. Generation-Y (Gen-Y). The challenge faced in the United States Members of Gen-Y hope “to be promoted has grabbed the attention of Chinese managers. after working one or two years in a job”; they In China, since members of Gen-Y account for “hate the strict rank and file, but yearn for less than one third of the total workforce equality and freedom of expression”; “they are population, traditional management practices unwilling to work overtime, but hope to enjoy are likely to remain effective for some time. work rather than being a slave to it…” But the day when Gen-Y represents the While appreciating the change in majority of China’s workforce is not far off . In atmosphere that members of Gen-Y bring, order to plan for this certain future, Chinese Chinese managers are beginning to search for enterprises should begin to focus on the solutions in order to make the traditional challenges posed by Gen-Y now—and prepare workplace meet the needs of their workforce’s strategies that will foster a harmonious younger members. We can learn from the relationship with Gen-Y. experience of the United States: managers there
  5. 5. Summary Three companies working together for the first and Shanghai to consult representatives time—IBM, Universum and Egon and experts from business, Universities, and Zehnder—launched a survey aimed at the the human resources industry for their views Chinese members of Gen-Y. The data collected and suggestions. in this survey mainly concerns topics related to This enabled the results of the survey to the working lives of Chinese members of be comparable with other similar investigations Gen-Y, including salary and benefits, career elsewhere in the world while maintaining development expectations, preferred distinct Chinese characteristics, and guaranteed management style, and so forth. that the results of the survey would be both The survey was conducted during April authoritative and relevant. and May 2008, mainly through telephone In order to ensure the diversity and interviews, panel discussions, online impartiality of our survey data, we selected our questionnaires and professional seminars. The survey participants from a variety of different design of the online questionnaire was based on groups, including Universum’s databases of questionnaires conducted in other countries Chinese students and professionals; forums at around the world by Universum. In order to 60 of China's top universities; users of IBM's ensure that the results of the survey would be recruiting web site, and also IBM China’s helpful for improving and changing the Gen-Y employees. We received 9,156 valid management practices of Chinese enterprises, questionnaires in total. The age, occupation, IBM, Universum and Egon Zehnder region, sex and education qualifications of conducted separately two seminars in Beijing these respondents are shown in Figure 1. Figure 1:
  6. 6. An analysis of the data presented by these development opportunities that companies 9,156 questionnaire responses shows that provide; being promoted is the greatest members of Gen-Y have high hopes for motivational factor in their respective careers; themselves. They generally lack patience and they are economically dependent on their hope that they can strike a balance between parents; yet they depend on their friends and their lives and their work. They require a lot of classmates for career advice. guidance in their work and pay great attention The survey results have strong prospects to the social responsibilities of the companies for application by HR professionals in Chinese for which they choose to work. They have the businesses, and will be helpful to the Internet and other modern technologies at their management of Chinese businesses in meeting fingertips, and greatly value team spirit. The the new managerial challenges brought about results of our survey also reveal that besides by Gen-Y. If, however, managers remains these areas of commonality with members of complacent and cling to outdated principles, Gen-Y from other countries, Chinese members Chinese businesses will lose out on of Gen-Y have their own distinct Chinese opportunities to gain ground in the competition characteristics. Buying a home is their greatest for talented people in the 21st century. Only by concern; they feel uncertain about the future; respecting the characteristics of Gen-Y and by when looking for a job, they place great actively promoting new working and emphasis on salary; they have high managerial methods can companies hope to expectations about the training and retain and develop the Gen-Y talents.
  7. 7. Who Are Generation Y? Every generation is the product of the political, communication tools and mobile phones. commercial, cultural, and social factors of the Communication technologies have already era in which they grew up. Gen-Y is been blended into their daily life internationally defined as the generation born and daily work, and have even affected their between 1980 and 2000. In contrast to the Baby ways of thinking. The other end of these Boomers (born between 1945 and 1964) and communication tools connect with the people Gen-X (born between 1965 and 1980), who have the most effect on them—their members of Gen- Y were born during a time friends and parents. Gen-Y communicates with when the world was relatively at peace, the their parents more frequently through SMS, economy was continually growing, and phone calls and email than their elders do. In technology was developing at an America, the effect that parents have on Gen-Y ever-quickening pace. These factors make has become so great that a new term has Gen-Y more confident and optimistic than their entered the lexicon——“Helicopter Parents”. elders. Members of Gen-Y have idealistic This term is used to describe parents who expectations for the world in which they live; always “hover” over their children, or who, in they are sensitive to new techniques; they are other words, always keep their children in sight. enterprising; they pursue independence and Gen-Y asks their friends and parents for achievement; they hope to enjoy work instead suggestions and opinions through QQ or of being controlled by it; they expect pain and E-mail. However, in China, because Gen-Y gain to be directly proportional; they have a parents do not have as rich and varied more encompassing view of cultural values. experiences in the workplace, their influence Because of the One Child Policy, Chinese on their children is mainly limited to social members of Gen-Y were the sole recipients of experiences. attention in their families. Their elders place Today, a great number of Gen-Y is great hopes on their shoulders. They were entering the workforce. They bring fresh well-raised and received good educations. They energy to the workforce, and yet are poised to think highly of themselves. But they are also rewrite the rules which govern it. The challenge selfish, and lacking in the areas of independent for companies is to be able to understand, adapt judgment and teamwork. to and develop Gen-Y, while wisely making Growing up under this policy, Gen-Y in use of their talents. China bears a distinctive mark of the times. Gen-Y grows up with Internet, email, online
  8. 8. What Does Generation-Y want? Managing changing demands of new the respondents whose annual income is lower generation employees are critical to the success than 50k, nearly 80% of them say that they can of corporate talent strategies. Gen-Y, as a support themselves. mighty new constituency in the workforce, is Salary aside, the most attractive benefits on the rise. Their work styles are a natural for Gen-Y are opportunities for further response to social change and they will education provided by the company, followed inevitably become the social pillars of the new by housing allowances and medical insurance. generation that succeeds them. If the In contrast with Gen-Y workers in Europe and management of Chinese businesses overlooks the United States who regard year-end bonuses, this, they could make a number of mistakes and additional vacation time and the overtime pay false assumptions about the demands of this as the most attractive benefits, Chinese group which could undermine and impact their members of Gen-Y places a greater value on efficiency. educational opportunities. This may be As such, managers must familiarize attributed to the fact that China, with a high themselves with the demands of Gen-Y as soon economic growth rate, is full of opportunities. as possible. Once they understand what Gen-Y The more knowledge and skills you possess, needs most, managers will know what their the more possibilities and opportunities you company’s focus should be. So what does will be able to grasp. The high price of housing Generation-Y want? and medical care makes housing allowances and the medical insurance key bargaining chips Salary and Benefits for companies to attract Gen-Y employees. Compensation for services rendered is a core Technical training ranks fourth among the most component of human resources management. attractive benefits to Chinese members of When asked whether their present wage level Gen-Y. Actually, there is still some debate as to meets their needs, 35.1% of respondents who whether or not technical training is in fact a have work experience indicated that they can benefit. In some companies, it is regarded as an support themselves, 27.3% of them said they investment, and is initiated by Business are fully supported by their parents, and 18.5% Departments, rather than by Human Resources of them have some savings after expenses. Departments. Since it is an investment, In the current market, an annual salary of 70k companies expect repayment, and so hope that to 100k RMB is the standard starting salary employees can make greater contributions after provided by most foreign enterprises and large the training. However, employees regard it as a or medium-sized state-owned enterprises when kind of benefit; for where there is no training, recruiting fresh graduates. Among the employees feel that their benefits are being respondents who get their salary in this range, infringed on. However, when they are provided 90% of them say that their income can fully with training, many employees don’t value it support their life, and 35% of them say that highly enough. they have some savings after expenses. Among With regard to the contents of the training,
  9. 9. study or participation in company-sponsored internet companies such as Shanda examinations is driven by personal educational Entertainment have obtained great favor with interests, and projects or tasks where training is Gen-Y through their flexible and innovative offered for a period of time as workers rotate online format. “An MBA degree is good for through different jobs are most popular with future development, but tuition is too expensive. Gen-Y. Online training and compulsory If it were sponsored by the company, then it’s learning programs which are taken under obviously a type of benefit,” one Gen-Y worker pressure from work or directed by the said during a telephone interview. companies or schools and fixed, long-term job Through training, they hope to improve rotation are most unpopular with Gen-Y (See their ability to solve practical problems, to add Figure 2). In telephone interviews, some Gen-Y to their own value in the labor market, and to pointed out that the training provided by the gain competitiveness for their continued career company tends to be very rigid. The development. They hope for the content of the knowledge is outdated, and cannot be used to training to change as they progress, while they solve the practical problems of business. also demand that the training be innovative, However, the training courses launched by lively, and easy to accept. Figure 2: respondents chose to change work between Expectations for Career Development different departments, 18% chose to add The survey shows that most Gen-Y employees responsibilities to their current position, and do not want to work in the same position for 8.3% of the respondents considered changing too long. Less than half of the respondents are jobs within the same department. Only 5.6% of willing to work in the same position for over them want to work for another company (See two years. Over 37% of the respondents choose Figure 3.2). In other words, more than 94% of 1-2 years (See Figure 3.1) as the longest they the respondents prefer to seek a wider range of would like to spend in a given position. When work experience within the company, rather they consider changing positions, 38% of the than leaving the company entirely. This set of respondents chose promotion, 30% of data breaks people's stereotype of Gen-Y as
  10. 10. having low levels of stability and favoring opportunities when being promoted, among arbitrary job-hopping. It also suggests that other factors. Some 34% of respondents think the vast majority of Gen-Y members hope to that employees should be promoted when find stable long-term development within a they perform very well, no matter how long single company. they have worked in a given position. A high When asked about promotions, 52% of the regard for qualifications and seniority is most respondents think that all factors should be disdained by Gen-Y. considered comprehensively, including one’s abilities and company development Figure 3.1: Figure 3.2:
  11. 11. Social Relationships and Networks don’t use our real names, so they are willing to For Chinese members of Gen-Y, parents play tell the truth.” The views of school friends on the role of friends, consultants and sponsors BBS forums are also an important source of (See Figure 4). On one hand, Gen-Y needs the professional advice for Gen-Y. financial support of their parents; on the other Gen-Y is also called “the Net Generation.” hand, the influence of their parents on their 40% of the respondents surf the Internet an career choice is limited. The traditional view is average of 8 hours every day. Reading news, that bosses or teachers should have the greatest checking e-mail and searching for information influence on Gen-Y with regard to their career are their main Internet activities. Most of development. However, when members of Gen-Y is the only child in the family. They do Gen-Y encounter difficulties in their career not many people to communicate at home is an development or at work, they will first seek important reason why they are so dependent on help from their classmates, parents and elders, the Internet. In one way, this over-dependence while a part of them use search engines such as on the Internet lets them acquire vast amounts Baidu and Google to search for answers (See of information for reference when making Figure 5). One student said in a telephone decisions; in another way, it also affects to interview, “the answers given by strangers on some extent their ability to think independently the Internet are often the most reliable. Since and make decisions. there is no relationship between us and we . Figure 4:
  12. 12. Figure 5: Preferred Management Style Communication Channels: Although Performance Feedback: Half of the Gen-Y is infatuated with the online world, 66% survey respondents hope to get immediate of the respondents say they still prefer to feedback when a job or task is completed, communicate with their bosses and colleagues while only a small part of respondents prefer to face to face during work. get evaluation at set times (See Figure 6). This has brought about new challenges to the present annual evaluation systems commonly used by the Human Resources Departments.
  13. 13. Figure 6: Leadership Style: the majority of recruiting staff” and that they “have been respondents like an encouraging boss and hope making efforts in this direction.” We can see to receive positive evaluation from the boss. At that values consistently proclaimed and the same time, they want their boss to give advocated by enterprises have slowly been them adequate space for free time (see Figure accepted by Gen-Y. 7). In telephone interviews, many people hoped However, a large problem facing the boss would be a person that could companies is how well self-centered Gen-Y “convince them to be outstanding in business, employees can enact good teamwork. One’s to be a role model for them”, and give them team working ability generally can be deduced lots of feedback. from the following factors: whether the players have a sense awareness of the overall progress Redefinition of Good Performance: to of the team’s work and the internal situation of be good at teamwork, to complete tasks with the team; whether the players are willing to excellence, and to work with great efficiency share experiences and are good at learning are considered three standards of good from others; whether the players can assist each performance, while long hours of overtime, other and think from the perspective of team high academic qualifications and high-level interests rather than simply personal gains or jobs, are not necessarily linked to good losses; whether the players are open minded, performance. willing to agree with others, respect other's Gen-Y’s poor capacity for cooperation is work; and whether the players are friendly and causing many headaches for businesses, and tolerant of colleagues, and only criticizing serious “individualistic tendencies” are often others when things are not right. mentioned. In telephone interviews, many respondents said that “teamwork can improve Mentoring Systems: Some 70% of those efficiency,” and that “to be good at teamwork is surveyed hope to establish a mentoring the universal demand of many enterprises when relationship with mid-level and senior leaders
  14. 14. in their company from whom they can receive is directly related to the environment in which guidance for professional and personal they grew up. As the only-child generation, development. In addition, more than 17% of Gen-Y received double attention from both the respondents hope to receive help at work parents and grandparents from a young age. So from colleagues who joined the company as they enter into the workforce, they look before them. forward to the same degree of attention and The demand for a mentoring system care as before, and to be given direction in reflects Gen-Y’s need to feel cared for, which work and life. Figure 7: Driving Factors Preferred Methods of Compensation: Purpose of Work: Some 55% of the Gen-Y’s favorite methods of compensation are respondents consider the basis of economic life promotion, overseas training opportunities and and the pursuit of a happy life as their ultimate cash (see Figure 8). goal, while 36% of respondents consider Most of Gen-Y has just entered into the realizing their individual value, and proving workforce, and so for them to be promoted and their individual capabilities as their ultimate take on more responsibilities is the most goals in work. appealing way to reward them at this stage. In order to retain Gen-Y employees, some larger companies have given them high-level job
  15. 15. titles, but without any corresponding authority. resentment towards this kind of promotion In our interviews, Gen-Y workers expressed scheme. Figure 8: Gen-Y welcomes overseas training home is an essential element to having a family. opportunities more than cash rewards, which is So for young Chinese men, not being able to worth noting as it shows that China's Gen-Y afford a home means difficulties in courtship. maintain a strong spirit of learning and Even when renting housing, the rent is also a enterprise, while also placing great value on large expense. Because of the great practicality. Those who wish to retain the best significance of housing to Gen-Y, those talent must be willing to spend on staff training businesses which provide housing subsidies and help them progress continuously. can enjoy a high degree of loyalty from their employees. Concerns of the New Generation: Some 41% of the respondents consider housing their International Experience greatest current concern (see Figure 9). One Some 89% of the respondents believe that Gen-Y respondent exclaimed in a telephone the international environment is either very interview: "current housing prices are too high. important or relatively important to them. The I cannot afford it at all. And without a house I international environment, as they understand it, cannot find a wife." Even those who have includes dealing with foreign customers and gotten financial help from their parents to working in multinational companies, and only complete down payments also feel the pressure 8% of the respondents associate it with seeking of monthly loan payments. In the traditional professional development abroad. For Gen-Y Chinese view, one should first get married, and workers who have many opportunities to see then establish himself. However, owning a the Western world, short-term foreign training
  16. 16. is acceptable, but working abroad long-term society. Why does Gen-Y attach so much cuts one off from the rapid development of the importance to a company’s social domestic market, and travel to countries with responsibilities? Many members of Gen-Y hard living conditions are considered even believe that those companies who are more carefully. Therefore many enterprises responsible to society will necessarily be declare it to be a sea change. responsible towards their employees. However, Corporate Social Responsibility Gen-Y generally has suspicions of government Some 90% of survey respondents consider charity. They hope that the departments it very important for businesses to give involved increase the transparency of the something back to society. Supporting donation process, so as to make ensure that education and scientific research, and donations flow to the needed places. providing help to local development are considered the best ways to give back to Figure 9: The Balance Between Work and Life suddenly became marginalized. This led Gen-Y Striking a proper balance between work to re-examine the meaning and value of work. and life is one of Gen-Y’s most important Getting help with work from superiors and career goals. The parents of Gen-Y overexerted colleagues, doing what they are interested in, themselves throughout their lives in order to having a warm and comfortable working maintain their families’ livelihood, leaving environment, modern office equipment, and little leisure time to enjoy life’s pleasures, some appropriate holidays are all considered helpful of whom were even laid-off in their fifties and in maintaining the balance between work and
  17. 17. life. Bringing pets to work, frequent business regulation 8-hour work day as a very good trips and fixed working hours are seen as balance. But the balance Gen-Y wants can be impediments to having a balanced life (See realized by businesses through flexible, Figure 10). This stands in stark contrast to the employee-oriented systems. traditional understanding which considers the Figure 10: ●Channels for Fnding Jobs seeking by Gen-Y. For Gen-Y with over two Internet job boards, friends, and career fairs are years’ work experience, headhunting is also an the most commonly used channels for job important channel. Figure 11:
  18. 18. How Should We Manage Generation-Y? Based on the analysis of the unique more relaxed view of work time in human characteristics of Gen-Y’s demands, it is not resources management. difficult to see that Gen-Y is asking for a higher First, help Gen-Y find work that they are level of management from human resources interested in. When interest and work combine and business managers. However, for together, life and work are integrated into one. companies that have understood the needs of This is the ideal work situation for Gen-Y Gen-Y, it is much easier to face the question of employees. Therefore managers should help how to manage Gen-Y employees. Following them find interesting work content, as well help are some coping strategies for Chinese them discover their true needs and potential, enterprises to learn and refer to. and establish a "personalized" human resources Creating Conditions to Help Maintain management database. the Balance Between Work and Life for Second, create a comfortable, home-like Gen-Y work environment. This can increase Gen-Y’s Gen-Y is a happy generation, as they are sense of pleasure in working and even in their skilled in allocating work hours and private work-life balance. In this regard, Google is a time and know how to balance work and well-known example. personal life. It is a proven fact that that a Finally, equipping the office with modern balanced attitude toward life is more conducive equipment, approving employee holidays, and to a person’s career development. Therefore, implementing flexible working hours are also companies need consider how to embrace a important aspects that allow Gen-Y to feel
  19. 19. balanced between life and work. staff suggestions or by various types of Helping Gen-Y Employees Develop interviews. HR should take the initiative in Career Competitiveness assuming the role of communicator. Gen-Y In addition to large salaries, continual pursues independence, does not fear authority, improvement of their competitiveness in the aspires to be respected and demand freedom of workforce is one of Gen-Y’s most important expression. In this respect, the traditional professional aspirations. Training is the management style of order and control Moreno commonly used method for Gen-Y to improve longer works. Companies should build a broad their competitiveness. However, the current and flexible communication platform, that situation is awkward in that even though include holding daily conferences, using MSN, employees have demanded training and having internal forums and creating a companies have spent a lot of capital on “Presidential-mailbox” as commonly used various types of training for their employees, modes of communication. most employees lose interest when the classes As for performance feedback, compared actually begin. Because of this an appealing set with their predecessors, Gen-Y are more of training courses, or customized training for demanding for feedback on their work. employees, and dynamically upgrading the Biannual or annual assessments have fallen far content and form of the training are the keys to short of the needs of Gen-Y. It is much better to making training more effective. Further study, give immediate feedback at the end of each such as MBA courses, sponsored by the project or task, for receiving immediate company is the ideal benefit of many feedback is one of Gen-Y’s hopes for employees. However, the number of such humanizing the system and obtaining concern projects is usually extremely limited. and cultivation from one’s boss. The mentoring system however is Giving Gen-Y Employees Promotions relatively easier to institute. At present, while or a Change of Job Functions Every the number of companies that have introduced Two Years mentoring are not a minority, the problem is Many companies meet enormous that many companies’ mentoring systems are challenges in achieving this goal, because most not executed properly. Either the experienced companies already have a relatively fixed mentors have no time to attend to their promotion system. However, Gen-Y is a apprentices due to their own work, or the generation with little patience, and they want company lacks supporting evaluation and their work to always be fresh and challenging. incentive mechanisms. Both of these often After two years of continuous work in one cause the mentoring system to exist in name position, most Gen-Y workers no longer have only. any enthusiasm. If not promoted or moved to Establishing Good Communication and Feedback Mechanisms for Gen-Y Employees Management is achieved through communication, whether by the release of human resource policies, or by the collection of
  20. 20. another position, they are likely to seek affirmation for Gen-Y, especially given the opportunities in other companies. However, present huge pressures involved with home this is not necessarily a bad thing. This ownership. If a company can provide housing phenomenon precisely shows that Gen-Y has a subsidies, it is bound to increase the loyalty to strong ability to learn—and at a fast speed— the company of Gen-Y employees. that they attach importance to the fun in work, Establishing Idols and are not willing to mechanically duplicate While China's Gen-Y generally lacks their efforts. If companies can make good use long-lasting and firm beliefs they still have of these characteristics of Gen-Y, then they can their own heroes. For example, Gen-Y views greatly increase efficiency and output. those who achieve business success through Providing Competitive Pay and their own efforts and charm as their idols, and Additional Housing Subsidies they are often proud of working in the idols’ China's Gen-Y is both idealistic and companies. That is why Alibaba, Baidu, realistic. In contrast with European countries Shengda, and other companies are frequently and America which have a relatively listed as ideal employers by Chinese university comprehensive pay system, at the present time students. As with Bill Gates and Microsoft, in China, competitive pay is always the selling Steve Jobs and Apple, these companies possess point for a given company. Moreover, a Gen-Y’s admired idols or spiritual leaders, and substantial income is the prerequisite for a are always more attractive and cohesive. high-quality life as well as a kind of
  21. 21. Further Thoughts on What Generation-Y brings to Businesses It is clear that changing and adjusting Gen-Y employees, they must understand business management systems, human the ideas of Gen-Y, study the language of resources strategies, leadership management Gen-Y, and even learn faster than Gen-Y. styles, working methods and so forth are the main challenges that Gen-Y employees bring to A small number of Gen-Y employees are Chinese HR management. in positions of leadership, and it will be an The HR and management of Chinese inevitable trend that Gen-Y leaders will businesses need to seriously consider lead Gen-Y employees. Their leadership management changes in order to adjust their style will certainly be quite different from organizations to deal with Gen-Y, and combine previous generations. What impact will be the advantages they bring with their business brought about to company management? development. At the same time, the following And how should the company prepare for issues should be given further attention and the new generation of leaders? in-depth consideration by HR and management in Chinese businesses: In any event, companies that are able to evolve with their employees are inevitably full How will Baby Boomers and Gen-Xers of vitality and competitiveness. Such react if the company develops specific companies have smooth flows of information, human resources policies for Gen-Y? In act nimbly, and are filled with infinite essence, Baby Boomers and Gen-Xers possibilities. Gen-Y are a different generation, have the same demands. As a result, how that bear a clear imprint of the times in which do company policies create a balance they grew up. We cannot condescendingly between these three generations? judge this generation with existing value systems, but rather must find their merits HR managers increasingly feel that it is within them and make full use of their wisdom better to change themselves rather than and creativity, because Gen-Y represents the change Gen-Y. If they want to manage future.
  22. 22. Thanks: We express here special thanks to the following enterprises and organizations which participated in the seminar and put forward valuable suggestions: Johnson & Johnson (China), Deloitte, Shengda, ABB (China), Dupont, PepsiCo (China), Danone, Cisco, eLong, Google, Hewlett-Packard, Intel, Motorola, Nestlé, Schneider Electrics, Volvo, Yahoo!, Peking University, Beijing Normal University and Beijing Foreign Enterprise Human Resources Service Co.