Gen Y - Changing the Rules of the Game?
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Gen Y:Changing the rules of the
game?2 Aug 2013PMG Meeting, Singapore
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Let’s first understand the multi-generational work force
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Traditionalists(Born before 1946)
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Baby boomers(Born between 1946 and 1964)
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Gen X(Born between 1965 and 1980)
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Gen Y(Born after 1980)
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Traditionalists Baby Boomers
Gen X Gen Y
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Traditionalists Baby Boomers
Gen X Gen Y
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Traditionalists Baby Boomers
Gen X Gen Y
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Traditionalists Baby Boomers
Gen X Gen Y
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Traditionalists Baby Boomers
Gen X Gen Y
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Traditionalists Baby Boomers
Gen X Gen Y
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Traditionalists Baby Boomers
Gen X Gen Y
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Traditionalists Baby Boomers
Gen X Gen Y
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Traditionalists Baby Boomers
Gen X Gen Y
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Traditionalists Baby Boomers
Gen X Gen Y
“i”
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Traditionalists Baby Boomers
Gen X Gen Y
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Traditionalists Baby Boomers
Gen X Gen Y
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Traditionalists Baby Boomers
Gen X Gen Y
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Traditionalists Baby Boomers
Gen X Gen Y
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Traditionalists Baby Boomers
Gen X Gen Y
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Talented
Purpose driven
Social
Mobile
Tech-savvy
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But if you ask the older generations…
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High expectations
Don’t care about work
Instant gratification
Cryptic messages
Job hoppers
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“Is this a language or what?”
PLZ
L8R
OMG
LOL
BRB
?4U
ROTFL
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“Is this a language or what?”
Laugh Out Loud
Be Right Back
Oh My God!
PLease
LateR
Question for yoU
Rolling On The Floor Laughing
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But, are they misunderstood?
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Highly adaptable to change
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Value flexibility and want work/life integration
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Desire a fun, collaborative and challenging work culture
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Gen Y prefers relationship-oriented leaders
Source: “‘Y’ Are They Different? – A Study Of Gen Y at Work, Their Views And How They Are Viewed”; A joint research report by The GMP Group & Temasek Polytechnic
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Career and personal development opportunities are key motivators
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Let’s take a look at the Singaporean workforce…
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60%2012
The Singaporean Workforce
Gen X or Y
Source: “Harnessing The Potential of Singapore’s Multi-Generational Workforce”; Commissioned by the Tripartite Alliance for Fair Employment Practices (TAFEP)
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75%By 2025
The Singaporean Workforce
Gen X or Y
Source: “Harnessing The Potential of Singapore’s Multi-Generational Workforce”; Commissioned by the Tripartite Alliance for Fair Employment Practices (TAFEP)
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Now, let’s take a look at the global manufacturing industry…
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Aging workforce
Shortage of high-skilled workers
Manufacturing doesn’t have a great image in the mind of
younger workers
Other industries offer more attractive alternatives for
talented young people
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Increased productivity
More complex jobs
More high-skilled people are required!
The Talent Paradox
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What does all this mean for the industry?
Multi-generational
workforce
Manufacturing industry
challenges Changing demographic
landscape
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You cannot ignore the tsunamion its way…
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Gen-Y and younger generations will form the majority of the working population in the near future
“Common sense” will get re-calibrated!
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What challenges does this throw up for the industry?
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Bridging the present…
How do you deal with a multi-generational work
force that finds it difficult to deal with each other?
How do you align the differing values into the
work culture?
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… and the future
How do you recruit and retain a generation of
people whose loyalty to the organization is
questionable?
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Here are some things that you can do…
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Build a sense of purpose and meaning in work
Encourage mentoring
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Review and adjust communication styles
Recognition with frequent
positive feedback
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Raise supervisor awareness… and capability!
Understand and appreciate the values of the incoming generation
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Embrace flexibility
Learning (for all round development)
Work timings
Work location ……
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Provide open social networks with honest communication
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And if you succeed…
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Becomes…
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A presentation by Saurabh Anand
Accord Business Solutions Pte. Ltd.146 Robinson Road, #07-01, Singapore 068909
Phone: +65 9298 9590Singapore | India | UAE
www.accordsingapore.com.sg | [email protected]