Understanding Young Working Professionals
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Transcript of Understanding Young Working Professionals
Dr. Paul Englert APAC Director Psytech International
PhD I/O Psychologist
Understanding Young Working Professionals
Outline
• Generational differences
• Managing Generation Y
• The aging workforce
Baby Boomers (1946 -‐ 1964)
Generation X (1965 -‐ 1980)
Generation Y (1981 -‐ 2000)
Core values • Optimism • Involvement
• Skepticism • Fun • Informality
• Realism • Confidence • Extreme fun • Social
Family • Disintegrating • Latch-key kids • Merged families
Education • A birthright • A way to get there • An incredible expense
Dealing with money
• Buy now, pay later • Cautious • Conservative • Save, save, save
• Earn to spend
Communication media
• Touch-tone phones • Call me anytime or
meet me in person
• Mobile phones • Call me only at work or
meet me in person
• Smartphones • Write me an email or a
leave a voicemail ASAP
Personal and Lifestyle Characteristics
Generational Differences
Workplace Characteristics
Generational Differences
Baby Boomers (1946 -‐ 1964)
Generation X (1965 -‐ 1980)
Generation Y (1981 -‐ 2000)
Work is… … an exciting adventure … a difficult challenge … a contract
… a means to an end fulfillment
Attitudes toward authority / rules
• Some may still be uncomfortable interacting with authority figures
• Are comfortable with authorities and are not impressed with titles or intimidated by them
• Find it natural to interact with their superior
• Believe that respect must be earned
Attitudes toward loyalty to their employer
• Value company commitment and loyalty
• 65% would like to stay in their organization for the rest of their working life
• Less loyal to companies than previous generations but loyal to people
• 40% would like to stay in their organisation for the rest of their working life
• Committed and loyal when dedicated to an idea, cause or product
• 20% would like to stay in their organization for the rest of their working life
Baby Boomers (1946 -‐ 1964)
Generation X (1965 -‐ 1980)
Generation Y (1981 -‐ 2000)
Perceived elements of success
• 82% are willing to learn new things
• 77% meet deadlines
• 74% are willing to learn new things
• 75% meet deadlines
• 58% are willing to learn new things
• 62% meet deadlines
Preferred leadership attributes
• Credible (74%) • Trusted (61%) • Farsighted (57%)
• Credible (71%) • Trusted (58%) • Farsighted (54%)
• Listens well (68%) • Dependable (66%) • Dedicated (63%)
Feedback and rewards
• Don’t appreciate it • Money • Title recognition
• Ask directly for feedback • Freedom is the best
reward
• Assume to get feedback whenever they want it
• Meaningful work
Motivating messages
• “You are valued” • “You are needed”
• “Do it your way” • “Forget the rules”
• “You will work with other bright, creative people”
Interactive style • Team player • Loves to have
meetings
• Entrepreneur • Participative
Generational Differences Workplace Characteristics
Be Jlexible and open-‐minded!
Managing Generation Y
• Listen to millennial employees
• Provide an employee-‐centered workplace, that allows freedom
• Encourage the millennial’s “can-‐do” attitude
• Challenge them with different tasks
• Offer opportunities for training and provide the chance to grow in the position
But don’t forget to…
Managing Generation Y
• Provide structure
• Provide leadership, guidance and feedback
• Consider, that every Gen Y employee is different (some may prefer a more traditional workplace)
Managing Generation Y
Managing Generation Y is a constant balance:
Provide freedom and power in the decision making
process
Provide structure,
boundaries and consequences
The Aging Workforce
The Aging Workforce
60+ segment grows to 20% in almost all industrialised nations
http://www.fdu.edu/newspubs/magazine/05ws/generations.htm http://humanresources.about.com/od/managementtips/a/millenials.htm http://www.businessinsider.com.au/4-‐ways-‐to-‐manage-‐gen-‐y-‐employees-‐2013-‐1 http://blog.clomedia.com/2013/08/how-‐should-‐you-‐manage-‐gen-‐y/ http://themindsetlist.com/2013/01/5-‐mistakes-‐managers-‐make-‐with-‐gen-‐y-‐in-‐the-‐workplace/ http://www.smartcompany.com.au/people/human-‐resources/34285-‐the-‐secret-‐to-‐managing-‐gen-‐y.html http://rtc.umn.edu/docs/2_18_Gen_diff_workplace.pdf http://www.entrepreneur.com/article/228321 http://chartsbin.com/view/3687
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