Managing Generation Y in the Workplace

Is everything about to change for Generation Y?

How will they deal with a recession, the uncertainty of an economic downturn and the big changes in the employment market?

Why may Generation Y be affected by recession more that other generations? The answer is that Generation Y traits aren't entirely in tune with the inevitable aspects of recession and economic insecurity.

The Y generation has always felt secure. Ys only knew economic prosperity. Many Generation Ys have only experienced full employment and economic growth.

They saw parents in stressful jobs, working long hours. For some of those parents, their hard work didn't bring prosperity and happiness. Ys wanted different and better lives. If they were dissatisfied with their job, they resigned. "If I don't get that job, I will get another".

Baby Boomers and Generation X have little in common with Generation Y. Unlike Xs and Boomers, they haven't seen unemployment as much of a possibility - until recently.

Economic prosperity has fueled the values of Generation Y. Previous generations - the Boomers and Generation X have experienced or at least knew about not having money in their pockets and they took money much more seriously.

There's been no significant downturn in the economy over the past decade. That economic stability has been the basis for the development of the characteristics of Generation Y. Now Generation Y's security has been seriously shaken. Life has changed for everyone, people are being laid off in many parts of the world, a world recession is a real possibility and in addition, there's a world food shortage.

The current economic trend is set to continue for a while yet.

Generation Y hasn't faced that threat. Y graduates in the United States and Britain were complacent about job opportunities. For the first time in years, the threat is returning. It will have come as a shock for many self-assured members of Generation Y depending where they live.

Generation Y differs from country to country because generational attitudes are in part caused by age but also by circumstances. In China, Generation Y is made up of only-children - the result of the one-child per family policy. They grew up through difficult economic times and now are thriving in the massive growth of China.

India has seen huge development in IT based industries and has deliberately developed specialized expertise. Generation Y in China and India have very different values to their US and UK counterparts. There are many high-achieving Asian women studying math and science compared with western students.

There are highly talented individuals from China and India heading to the workplace - individuals, who are ambitious, focused on work and focused on academic success.

Generation Y in the west is facing huge new challenges. Some will be reeling, the sand shifting under their feet. Some of their basic operating principles are wobbling but they are an exceedingly talented generation and they have an opportunity to be very successful if they are able to make a few fundamental adjustments. Managing Generation Y through the recession will require understanding. Some Ys may wish they had been more loyal to previous employers.

The fundamental adjustments are 1) no longer wanting and no longer only responding to instant gratification 2) changing from being a diva at work and expecting everything to fall into their laps and 3) put work-life balance on hold for a while.

However, they deal well with change and they're dynamic.

They are:

- tech-savvy
- ambitious

They:

- think outside the box.
- believe that if you use your imagination, you can do anything.
- have changed jobs more often so they have wide experience

Many are exceptionally skilled at problem-solving because they are connected 24/7 by cell phones, PDA's and laptops.

If you're the manager of Y's, look after them, watch out for a wobble and support them through it. Theirs are the talents you have to work with and they will dominate the workplace for the next 10 years.

Their foundations may be unsteady for a while until they adjust their basic thinking but the upper structure is sound. Re-enforce the foundations and rub off the rough edges and you've got a great employee with great talents to carry companies forward.

The new economic situation may mean they have to think twice before looking for a new employer. Many won't be able to do that if they don't like the current job - they no longer have the economic freedom.

Generation Y has challenges but can meet them. Meeting those challenges may moderate the image they portray which was of opinionated, demanding and overconfident divas and produce a more well-rounded and less arrogant workforce.