3. Social Environment DA 2 - Feb 2014

8/12/2019 3. Social Environment DA 2 - Feb 2014

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Djamaludin [email protected]

MBA Program, Faculty of Economics and BusinessGadjah Mada University


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Generation Y born between January 1980 upto December 1999.

Other names for Gen Y : the MillennialGeneration, Generation Next, the Net

Generation, and the Echo Boomers. They come from the family of better

economic achievement ( middle-up in socioeconomic class), experience less hardship

compared to their parents.


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They tend to be much more optimistic facing theirfuture compared to the older generation.

Familiarity with communications, media, and digital

technologies. In most parts of the world its upbringing was

marked by an increase in a neoliberal approach topolitics and economics;

Trendy and Modest appearance, tattoo, mixlanguages.


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Generation X ( their parents) work for moneyand status.

Generation Y care less about salaries, andmore about flexible working, time to travel

and a better work-life balance. They expectemployers to meet their demands.

Generation X thinks about security(permanent job with good salary) ,

Generation Y thinks about opportunities.


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Generation X work mostly to earn money tofeed their families. Generation Y expect great

fun, job satisfaction and job that fulfill theirdream and values.

Generation Y rebel against their parents'values and were determined not to lead lives

that revolved so heavily around the world ofwork. Money and work are not the be all and

end all.


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Instead, they were ready to resign if their jobswere not fulfilling and fun, with decent

holidays and the opportunity to take long

stretches off for charity work or travel. Salaryand status were not high on the priority list.

The older generation (X generation) created

the culture of long working hours, TheGeneration Y reluctantly accepted it, since

they don't live to work.


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They have grown up in relatively affluentfamilies.

They want to be sure that they can strike a

balance between work and their personal life,and so the opportunity to take time off, totravel, to work for a company with a strong

social responsibility record, These are all concerns that increasingly

appears when recruiting generation Y with agood talent.


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What it offers to meet the needs of GenerationY, in addition to stressing good salary, thecompany is recommended to give them : the opportunity for flexible hours,

the chance to work from home,

the offer of up to a year of 'family leave' to look afterchildren or elderly parents,

the promise of travelling and regular sabbatical

leaves. These packages are given by Procter and

Gamble. Similar packages are being offered bycompanies across Britain.


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Generation Y changed jobs more frequently, They were less willing to put up with long

hours or poor holidays. Officials in the US have estimated that a

typical member of Generation Y will have 10jobs by the age of 38. 'People think, why stay

in a job you do not enjoy?' he said. as work-life balance, personal development,

exciting jobs and motivating managers


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'They have only ever known economicprosperity. They have many choices: gap

years and

extensive travel are the norm.

They can join a company, or set up their own.


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Their attitude is: "If I can't get one job, I will getanother one."

They are not preconditioned, like many of us, to

be cautious of authority. Generation Y workersare far more willing to challenge managers andare undeterred by traditional hierarchy.

Much of what the workers were demanding.They demand a work-life balance, personaldevelopment, exciting jobs and motivatingmanagers


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Generation Y wanted to spend 30 per cent to70 per cent of their time working from home.

More than half wanted a flexible working

arrangement.

The top priority when choosing a job was

'doing work they love'. 'Earning lots ofmoney' was far behind, in seventh place.


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When it came to walking away from an employer, alack of motivation was the top reason followed by awork-life balance leaning too far towards the job.

They will get the job done on time ... but on theirown terms.

The confidence, it said, came from a feeling of

security: 'Unlike Xers and Boomers, they are notremotely daunted by the spectre of unemployment.'


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The overconfidence of Generation Y is proving a challengefor employers. This summer the Association of GraduateRecruiters will host a conference, at which delegates willdebate how far firms need to go towards accommodatingthe desires of younger workers and how seriously theyshould take the concept of Generation Y.

Carl Gilleard, chief executive of the AGR, recentlydescribed young workers as 'opinionated' and moredemanding of employers. He said: 'One colleague who

recently faced a barrage of questions about what her firmwill give one young man, was forced into reacting with thequestion, "And what are you going to give us?" '


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While warning that those who did not make an effort to respondto the needs of this group would end up 'dead in the water',Gilleard added: 'Just how far do employers lean over backwardsbefore they end up being horizontal?' Others felt that companiesshould not 'overreact' to the new values and attitudes, warning

that things could soon change again. Helen Bostock, global head of campus recruiting for the

investment bank Credit Suisse and a board member of the AGR,said: 'A few years ago I recall the dotcom bubble when everyonewas trying to reinvent themselves with an entrepreneurial culture.Now it is generational theory. What happens is that employers get

sucked into the whole thing, then the pendulum swings one wayor another. One thing that is consistent is that there is alwayssomething we are tackling. If it is not work-life balance, it isdiversity, inclusion or something else.


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Gen Yers are self-directed, results-oriented, and seekadvancement opportunities. As digital natives, we have a desirefor flexibility, yet maintain a preference for speed and efficiency.We are also willing to put the time in to stay digitally literate astechnologies rapidly change.

So what are my thoughts for todays world leaders? The Gen Ymindset isnt going away as we grow older, we will be moredifficult to recruit and manage. Yet if we can harness the wisdomand organizational knowledge of the older generation and thecreativity of the younger generation, we have the possibility tocreate a very high-performing work environment for the future. Ill

be thinking about all of these things at Davos and blogging aboutthe conversations I have there.


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The top four things Generation Ys are lookingfor from an employer are the same the world

over:

Having the chance to learn and develop.

The opportunity to do work that excites them.

Having a job aligned to their talents.

Having a mentor at work.


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Good managers who understand them and trustthem are essential. This is one of the mainreasons Gen Y leave organisations where-everthey are in the world.

Being trusted is the key to keeping this generationmotivated and engaged at work. This isundoubtedly more important during times ofeconomic downturn as people become moreinsecure about their jobs and concerned aboutchanges that may happen in their organisations.


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The company brand is far more important toGen Ys in Asia than it is to Gen Ys elsewhere.

They are much more likely to be turned on

and off an organisation based on what theyhear in the news or how it is portrayed byfriends and family.

Cultural Differences

Asia- the Marketing Generation Y of the World


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Lack of support and poor management are themain reasons for Asia-based Gen Ys leavingemployment, whereas in the rest of the worldthe two most common reasons are work is not

motivating and for better work/life balance.

Asia-based Gen Ys told us that having access tomentors was very important to them. While thisis also important to Gen Ys in the rest of theworld our research shows that this is more of adeal breaker in Asia.


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Gen Ys are loyal as long as they are getting what theyneed. They expect not to get their job choice right firsttime but they are much more likely to stay longer -perhaps 5 years or more - in their second job.

In Asia however, there is less loyalty second time round.

They are much more likely to leave if they think its takingtoo long to get promoted.

This links with their greater need to understand theircareer path than their counterparts in the rest of theworld.

Cultural DifferencesAsia- the rest of the World


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Having access to social networking sites waslow down the priority list for Asia-based Gen

Ys but they still rated it more important to

them than Gen Ys elsewhere.

Being connected technologically at work was

also a much bigger deal for Asia-based GenYs.


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The importance placed on the opportunity towork globally. This is more important to Asia

based Gen Ys than having flexible working.

The company brand is much more importantfor Asia-based Gen Ys. This means that they

are more likely to turn on and off anindustry/company based on good or bad

publicity.


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Source: Justine James, Sally Bibb, Simon Walker. (2008


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Transformational Leadership Flexible time and more sabbatical leaves More travel opportunity Give them feedback on their job Give them work that fit to their values Give them meaning in their job (3 M). Participative decision making. Provide opportunity for more personal

development training Provide them with information technology


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Thank you


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"What Gen Y Really Wants". Time Magazine. 2007-07-05. "The millennials - ever optimistic about jobs". CNN Money. 2011-05-18.. "Generation X and Y: Who They Are and What They Want". Board Matters

Newsletter8 (3). 2008-11. Justine James, Sally Bibb, Simon Walker. (2008). Generation Y:

Comparison between Asia and the rest of the World. Highlights from theglobal Tell it how it is Research 2008.

"How Millennials Perceive a New Generation Gap TIME. 2010-03-11.

Davie, Sandra). "Gen Y @ work" The Straits Times, (12 May 2008


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Thank you

3. Social Environment DA 2 - Feb 2014

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