Generation Y or the "Internet Generation" will dramatically convert every aspect of your enterprise in the next five years!
Change will be constant, rapid and revolutionary. Want proof?
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First, the Massachusetts found of Technology is putting all of their 1,500 courses on the Internet. Mit believes that the "dissemination of knowledge and data can open new doors to the qualified benefits of study for humanity around the world." That means students, educators and self-learners will be able to audit these courses when and where they want.
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Second, Bob Lutz, normal Motors Vice Chairman, has a blog to enumerate directly with his customers. It is an invaluable way to get prominent data out to the market. It is also a car for timely and literal, feedback. Other Gm executives are setting up blogs to talk directly to and get data from their employees. By comparison, Microsoft has over 1,500 customer and employee blogs.
Third, YouTube is an Internet overnight success story. It allows population to upload and share videos over the Internet. To date they have 100 million videos on their site and receive an additional one 65,000 per day. The enterprise was founded in February 2005, and was never profitable. Yet, Google understood the possible of their technology and purchased the enterprise nineteen months later for .65 billion.
While Gen X employees understand Internet, multitasking and instant communications, Generation Y members excels at use of these three tools, and they will use them to transform business. They will challenge every aspect of the workplace.
How do the dissimilar generational employees look managers?
Boomers: The boss is not all the time right, but the boss is all the time the boss. I will put in long hours to get ahead. If necessary, I will do so at the price of my family.
Generation X: The boss is not all the time right, but I'm not going to be here very long. I watched my parent's jobs be downsized or outsourced so I don't have the same loyalty to a enterprise they did. I'm not married to the company; I value my life covering of work.
Generation Y: The boss is not all the time right, but are they open to new ways to do business? Events like 9/11 and the Columbine High School shooting have taught us that life can be fleeting. The Internet as exposed us to new ways of approaching life and work. I want to flexibility, to be valued for my ideas and my work and I want time off to volunteer.
They are called Generation Y, as in "why," because they are constantly questioning the status quo. They are practically as large as the Boomer generation and are over 65% larger than the Generation X group. In the next twenty-five years 80 million Boomers will be retiring. As the Boomers retire, the Gen X employees will come to be the Gen Y's managers. However, because of their sheer size Generation Y will be the fantastic influence in the workplace for the next fifty years.
Generation Y fully embraces technology. Today's twenty-year-old college graduate was only five years old when the Internet was developed in 1992. They have all the time absolutely had the world at their finger tips. They grew up with instant messaging, text messaging, cell phones, iPods, Pdas, MySpace, YouTube, multitasking and blogging. They think, and act, in terms of instant communications. While Gen X employees understood and used these vehicles, Generation Y is totally immersed in them.
Baby Boomers changed the culture on civil rights, woman's rights, and gay rights. Their world was shaped by the Cold War. The members of Generation Y were born after the Civil possession Act was passed (1964), the gay possession movement started (1969), the first woman sat on the U.S. Supreme Court (1975), and the Berlin Wall came down (1990). The struggles many of us remember are acceptable facts in their world. Generation Y individuals embrace diversity as an acceptable norm and until recently knew nothing about war. Their world has all the time included diversity.
Each of us has memories of some modern tragic events: the Oklahoma bombing, the Columbine High school shootings, the World Trade town bombing, and three wars-Iraq, Afghanistan and the War on Terror. If you were a thirteen to fifteen year old, how would these events shape your thoughts about the future? In a practical way these Generation Y's remain optimistic.
Generation Y members are group-oriented, confident, goal-oriented and civic-minded. They have a more worldly view than Generation X'ers. These new employees have been coddled by their parents. As children they received trophies for simply participating on a team. Parents told them were special and capable of doing anything. Their non-school activities were scheduled (e.g., karate, soccer, etc.), and their parents were not afraid to call a teacher, coach or Boy Scout leader if they did not think their child was being treated fairly.
Generation Y kids have been raised with instant communication, unrealistic feedback and rapid decision manufacture as the norm. They believe they have the world in the palm of their hand. And, with their knowledge of today's technology they do.
So what can your managers do to get ready for Generation Y employees? Generation Y employees want to be heard and valued by their enterprise when they start with your company. They place a high value on house and flexibility and will volunteer their time to causes they feel are important. They are fearless and not intimidated by titles or corporate organizational charts.
They love range and are not afraid of change. If they think they have a good suggestion they will take possession of the idea. And, they will not be afraid to take the idea up the corporate ladder to be heard.
Successful associates must find ways to harness the new employee's talents, join them into the enterprise and turn ideas into a contentious advantage. Progressive associates understand that studying is a two-way street. Generation Y employees will revolutionize internal and external communications. associates have a lot to teach the Gen Y's, but they have a lot to learn from them also. That will be difficult in rigid, very structured companies.
Jack Welsh, former Ceo of normal Electric, stated that "...ebusiness knowledge is regularly inversely proportional to age and rank." Hiring, curious and retaining good employees have all the time been the hallmark of flourishing companies.
Successful associates today must found a culture of learning, sharing and embracing change. They will employ two-way mentoring, blogging, new training platforms, and new ways of hiring and promoting people.
Training Generation Y employees will change. Boring, all-day seminars will come to be less frequent. Generation Y employees will text message their friends while those seminars. They need the data in the seminar, but associates will have the training available in dissimilar platforms and in smaller "bite-sized" portions. These training modules will be downloadable to an employees' Blackberry, iPod or computer. The employee will view the sessions at home, or on a plane or listen to them in the car driving to an appointment.
This is an curious and dynamic time for business! convert will be constant, rapid and revolutionary.
Generation Y employees will convert how we look at hiring, turnover, mentoring, performance reviews, employee orientation, holding issues, and how we enumerate with our employees and customers. Are your managers ready for this new employee?
Questions for Discussion:
- A new employee takes practically six months to "learn the ropes," and they will probably leave the enterprise within four years. How will your managers take full benefit of the Generation Y employee's creative energies?
- What systems within your enterprise need to be reviewed to take benefit of these upcoming changes?
- How can you dramatically convert the way you enumerate with your customers and your employees?
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