Lucian Tarnowski, managing director, BraveNewTalent.com

Gen Yers have grown up in a very different world. In the last 20 years the world has changed dramatically and at a pace that nobody could have predicted. Change is all Gen Yers have ever known, they thrive on it and they certainly expect it. 

On the flip side, change in the workplace is often resisted. This means many Gen Yers get frustrated when their employers don’t embrace the pace of change as they do. The idea that things are done in a certain way because they always been done that way makes no sense to most Gen Yers who look to innovate and develop constantly. 

Economic prosperity

One of the key influencers on the Gen Y attitude is their upbringing in a time of unrivalled economic prosperity. Gen Yers have grown up with exposure to more brands and consumer products than ever before. With ‘helicopter parents’ that drop in and out whenever they are required, Gen Y have got what they wanted and quickly. So it’s no surprise that once Gen Yers enter the workplace they look for the top jobs after such a short period of time. I often explain this trend in saying that Gen Yers are often more confident than they are talented! 

Employer relationships

This makes for some interesting relationships with employers as Gen Yers are doing an Oliver Twist by demanding more than ever before. They want more say in the management of their career, more responsibility in the workplace, more fluidity to digress from their original career map, and more consideration for their lifestyle needs. And they want it now!

Change

But I don’t think it is Gen Y itself that is viewed with suspicion. Rather it is what Gen Y bring with them that is viewed with suspicion. To me, Gen Y epitomizes change. Many employers have always viewed change with suspicion. They can’t resist it for too long though. The Gen Y-led trend is happening in workplaces around the world, those employers that resist the change that this trend encapsulates will not be able to retain their competitive advantage with their young talent. 

Workplace divas?

Gen Yers are often accused of being workplace divas who expect everything to fall into their laps without putting in the required effort. However, many Gen Y enthusiasts counter this view by arguing that they are independent, innovative and creative and ready to engage in companies that are prepared to offer the environments in which they thrive. 

Do I think Gen Yers are workplace divas? Yes – in many ways they are. However we live in an interesting time when technology is one of the core driving forces behind economic growth, yet the people that are most tech-savvy tend to be at the bottom of the organization, not as a result of their ability but as a result of their experience. It’s therefore no surprise that we now find ourselves in the age of the entrepreneur.   

I can relate to this view as in many ways I see myself as the quintessential Gen Yer – someone who wants it all, is highly ambitious and is too impatient too wait. But at times some Gen Yers lack realism. There is also at times an undeserved level of confidence. Many people have spent years getting to the position they find themselves today only to find a Gen Yer being promoted above them after only two years’ experience. 

So are they more demanding, lazier and greedier than their predecessors?

I describe Gen Y as Gen X on steroids – many of the workplace aims of Gen Xers are so much more visible among Gen Y. Gen Y researcher, Bruce Tulgan, argues that Gen Y are different from any generation that have come before them. He describes Generation Y as the most difficult generation to manage ever, but when employers get it right they can also be potentially the more rewarding generation. Yes, Gen Y tend to be more demanding, they have been brought up in a ‘me me me’ society. But, I don’t see Gen Y as lazy or greedy. 

In fact rarely are they work shy but rather demand that work does not take over their lives. What’s more, money is not often the only driving motivation in making a career decision for Gen Y. 

Talented Gen Yers

This also means Gen Yers have become consumers of the job. What used to be a one way process of the employer interviewing the candidate has now shifted. Talented Gen Yers have choices - more choices than ever before, and many of them are very aware of this. The interview has become a two-way process. Linsey Perry, vice-president of the Association of Graduate Recruiters said: “Baby boomers and members of Generation X were like dogs, treat them right and they will be loyal. But members of this latest generation, Generation Y, are more like cats: they just go where the money is. At recruitment fairs candidates used to try to stress what they could offer to a company. Now it’s the other way round.”

War on talent

With UK universities now turning out 250,000 graduates a year, many times more than they did a decade ago, companies might be expected to be awash with choice, but competition for the best of the graduate talent remains intense. There is a ‘War on Talent’ out there in the 21st century workplace. 

Jonathan Austin, chief executive of Best Companies, which compiles the Sunday Times 100 Best Companies to Work For survey, argues that Generation Ys are what they are, shaped by their times and demographic changes and the global hunt for top talent means they are much in demand. Austin has been quoted to say: “Generation Y people are looking for organisations that offer more than money.” 

So employers that embrace the positive aspects that Gen Yers bring to the workplace will be the ones that gain competitive advantage when it comes to hiring the next generation of talent.

So how should employers prepare themselves to cope with Gen Y?

My 10 tips for getting the most of Gen Yers would be the following:

1. Offer a broad range of experiences
2. Offer international postings where possible
3. Live the social responsibility initiatives
4. Create development and learning opportunities
5. Establish a good work-life balance
6. Remember: salary matters but does not motivate
7. Encourage jobs that make a difference
8. Allow ownership of ideas
9. Recognise and reward top talent
10. Listen, respect and try to understand!

Forward thinking employers

Some employers such as KPMG, Price Waterhouse Coopers and the Atkins engineering consultancy are responding to the challenge of Generation Y by offering all or some of the following: a broad range of experiences; early international postings; social-responsibility initiatives; development and learning opportunities; and a good work-life balance. All agree that salary matters but that money alone is a poor motivator of this generation.

In my own company, BraveNewTalent.com we have co-pioneered a Gen Y leadership forum with a partner company in Finland. The purpose of this forum is to bring together forward thinking employers to share best practice on how to attract, retain and develop Gen Y talent.  Forum participants include representatives from global companies such as Microsoft and Nokia. Employers also need to start thinking about how they recruit talent in a way that meets the needs of Gen Y. .

Workplace conflict

The new attitudes of Gen Y to the workplace can of course lead to potential conflict between different generations in the workplace. A survey by Lee Hecht Harrison found that 60% of employers experience tension between employees from different generations. This tension is often two-way with 70% of older employees dismissive of younger workers’ abilities while 50% of younger employees are dismissive of older co-workers. 

It’s clear Gen Y poses a threat to existing staff when 8% expect to climb the management ladder within their first six months of their jobs and 52% within a year. However, according to a GfK NOP survey, only 1 in 4 graduates expect to be in the same company after five years. City and Guilds estimates that the average person starting their working life in 2025 will face 19 employer changes compared with 13 today.

The iPod generation

Think tank Reform has dubbed Gen Y the iPod generation: insecure, pressured, overtaxed and debt-ridden. It highlighted house prices and the need to pay more tax to meet the demands of an ageing population as the main problems. This is a problem that many Gen Yers are not dealing with. Research has shown that they have no fear of unemployment, or their ability to find another job.  Even in the economic downturn Gen Yers seem to continue their spending. NatWest reported that UK graduates are, on average, £12,640 in debt through loans, overdrafts and credit cards, which will take 15 years to repay. The idea of debt is something that Gen Yers will have to get used to it seems: in the UK there are currently 100 workers supporting every 27 pensioners aged over 65 but by 2060 this figure is set to increase to 48 pensioners per 100 workers.

But, as baby-boomer thoughts start turning towards retirement, perhaps they should be taking a little more interest in the younger generations and their attitude to work. At the end of the day it is going to be Gen Y that will have to ensure they receive adequate health care benefits and pensions!

About BraveNewTalent.com 

BraveNewTalent.com is a Gen Y focused pre-employment networking site. It's a new way of connecting Gen Y talent with potential employers. The platform has plans to scale-up globally but will launch initially in the UK and Indian student markets. It enables Gen Yers to take control of their careers by creating professional profiles and connecting to their desired employers. The platform leverages on the existing established social networks to allow our users to build their professional profiles alongside their current social profile. Instead of connecting to their friends they simply connect to their future desired employers thereby allowing employers to develop their Talent Radar™ and reach potential employees at a much earlier stage