Unmet Needs of Generation Y Essay Example

Unmet Needs of Generation Y Essay Introduction Born in the mid-1980s and later, Generation Y employees are in their 20s and are just entering the workforce. With numbers estimated as high as 70 million, Generation Y (also known as the Millennials) is the fastest growing segment of today’s workforce. As companies and firms compete for available talent, employers cannot ignore the needs, desires and attitudes of this vast generation. We have identified five different unmet needs faced by Generation Y after many interviews. They are mainly materialism, the inability to approach supervisors easily, inflexible working hours, presence of a communication barrier between older and younger generation and no sense of belonging. Our interview questions was carefully constructed using the SPICE framework and as a result, have garnered ideal results. After conducting the interviews, we researched the different needs and found solutions. Our next step was to link the solutions to the POEMS framework. Lastly, we have identified the HR functions that can be used in a company to solve the unmet needs. Interview Questions 1. What is your age? (Identity) 2. Are you working? (Social) 3. If yes, describe your job and what attracts you to work there? (Identity) 4. If no, what did you work as previously? And what is your reason for leaving? (Identity) 5. If you could change one aspect of your job, what would it be? E. g Increase pay, more benefits etc. (Emotional and Physical) 6. How did you get the job? (Physical) 7. Does your job allow you enough time with family/friends? (Social) 8. Do you use technology in your workplace? E. g. laptops , softwares, machinery etc. (Physical) 9. Do you feel a sense of belonging in your company? Identity) 10. Do you bond well with your colleagues? (Communication) 11. Are you able to approach your supervisor/manager easily? (Communication) 12. Do you feel stressed when you are working? (Emotional) 13. If yes, do you have anyone to talk to about this in your workplace? (Emotional) 1) Materialism in Gen Y Our first identified unmet need is materialism in Gen Y. Materialism is c ommonly defined as a preoccupation with or stress upon material rather than intellectual or spiritual things. This is a phenomenon that has exploded with the coming of the Gen Y population. We will write a custom essay sample on Unmet Needs of Generation Y specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Unmet Needs of Generation Y specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Unmet Needs of Generation Y specifically for you FOR ONLY $16.38 $13.9/page Hire Writer This is not to say that materialism was never present before Gen Y but has instead increased due to various reasons. One reason why Gen Y is so steeped in materialistic tendencies is due to consumerism. Nowadays, marketing efforts are being aimed at kids to make them more materialistic in order to bring in more sales. Results from various studies suggest marketing efforts aimed at youngsters may indeed be robbing children of their childhood and making kids more materialistic, and it can have long-term negative consequences on shaping values. Another reason why Gen Y is becoming increasingly materialistic is due to a lack of self-esteem. Recent studies have shown a direct link in materialism in Gen Y and a direct correlation to their self-esteem. Between the ages of 12 and 13 children try to compensate for low self-esteem through material goods that they think will make themselves feel better, or that they think will raise their status among their peers. This reason is further compounded by itself, as many problems may arise and often do when young people embrace this culture of materialism. Lacking the means to acquire the much-valued material things, some individuals develop low self-esteem. This is particularly true of those of younger age. Research indicates that there is a direct correlation between low self-esteem and materialism: as self-esteem decreases, materialism increases. Additionally, there are those who, also lacking the means to acquire the desired material belongings, turn to illegal activities to procure the funds to satisfy their unhealthy materialistic tendencies. The unhealthy desire for material possessions and the illicit activities it inspires has landed an exorbitant number of black youth in prisons both in Canada and in America. These possibilities are just two of the potential negative effects of materialism. In order to instill positive values in their children, parents have to be cognizant of the negative influences that pervade our society, especially media influence. When they learn to understand the extent to which the mainstream media bombards the youth with enticements, parents will be better able to help them stave off the constant pressures they face on a daily basis. Recent research also suggests that young people of today are much more materialistic than their counterparts of the past were. All too common, among black youth, there is a palpable materialistic obsession the roots of which anyone can trace back to a popular music video—be it a new designer label or a new blackberry phone. Among many young people, the sense of self-worth is contingent on their possession of the aforementioned material objects. Such is the extent of influence that the media often has on young minds. It is very easy for a young person to become impressed by the constant exposure to the glorification of material belongings. The mainstream media is incessant in its parade of materialistic conceits. Young people are constantly being told that they need to have those designer jeans or that new must-have cell phone model in order to gain the respect of their peers. Whether it is a music video or a reality show, the materialistic culture prevails. It is, then, little wonder that many of them tend to view the world through a materialistic paradigm. To solve this problem, the human resource department identified is the Compensation and Benefits department. First thing Comp has to do is to understand the Gen Y demographic. They have to understand their needs and their wants to be able to manage and retain them. For example, staff in the Comp department can make the benefits and wages more attractive to Gen Y employees specifically. Also, they could appeal to Gen Y employees by giving them perks and benefits such as company cars and discounts at company-sponsored stores. 2) Unable to approach supervisors Another unmet need we have identified is Gen Y’s problem with approaching supervisors. It is known that Generation Y is the youngest group to exist in the workplace environment. Therefore, being underdogs taking roles often at the bottom of the work chain, they often have problems communicating effectively with their superiors. Since they reside at the bottom of the chain, they fear confrontations as they are afraid that they may unintentionally, through one way or another make blunders, which may threaten their immediate future. Some examples of such blunders are over asking, asking poorly, saying the wrong things and breaking the status quo. Over asking is that problem of repeatedly asking the same or similar questions in the workplace. This may cause problems in the future when working together as it may leave a negative impression. When an underling asks a superior the same question repeatedly over a short period of time, the superior may feel flustered and frustrated at the asker, leaving a negative impression of said asker on the answerer. Generation Y, with being at the bottom, feels that leaving such at impression maybe detrimental and hence, fears confrontations in this aspect. Asking poorly is also a cause of concern to this issue. Asking poorly refers to asking questions that the answerer may feel is ‘common sense’. By asking such questions, superiors may feel irritated with the Gen Y worker. They may then even come to resent giving them opportunities. This is a very common among Gen Y as since majority of them are new to the job, they have yet to know the regular customs at the workplace and hence, may not know the ‘common sensual’ course of action and as a result, come across as ignorant and poorly educated rather than inexperienced which they are. With them fearing such an event occurring, the Gen Y workers as a result, fear approaching their supervisors. Another problem of fearing confrontation would be causing misunderstandings at the workplace by saying incorrect or even inappropriate things at the work place. Example of such things can range from making rude or snide remarks unknowingly or providing incorrect input for work related items. At times, as Gen Y, being inexperienced at workplace politics, they may make inappropriate remarks at other people without knowing it. The reason for such is due to the fact that, different years may have different lingo and other people from other generation may feel insulted by what may be a regular passing comment from another colleague. For example, the word ‘gay’ has changed over many generations. Decades ago, the word meant happy, years ago, the word meant to not be in the social norm, whereas, now, it has homosexual meanings in context. So when they break the barrier down to speak, they are afraid of causing such tension. Finally, breaking the status quo is another problem that they may potentially face that also contributes to the fear of confrontation. In office politics, there is a certain order in the hierarchy or a chain of command. This means that there is a certain order in which, information can pass through. For example, with three levels, being the Gen Y lowly employee, his boss and his boss’s boss, the employee must observe the chain of command and is not able to talk to his boss’s boss without first going through his boss. Based on the unmet need of confrontation, the problem should be taken in and solved by the human resource function of welfare and compensation benefit. On the poems structure, this tends to be more on the people side as it is a form of inter-personal interactivity that is unachieved. To help with this problem, human resource needs to firstly, be more observant on the newer and younger employees to ensure that they are able to get along and speak comfortably with fellow employees in the office regardless of age gap. Human resources can also take a more forward approach in organising perhaps bonding activities in which, perhaps the hierarchy is temporarily reversed and they are at the top. Even a buddy system can be introduced where maybe an older and younger worker are paired up and given time to bond to allow easier interaction between the workers from different generations. Better interaction policies can also be given. For example, ideas could perhaps be introduced through an online portal where the new gen y workers can be given a chance to submit ideas without the fear of being criticised. An open door policy can also be implemented where maybe, at a certain time of day, a manager would set aside time to allow workers to speak to him about work or non-work related matters. A portal can also be introduced, this one being in the sense that common work protocols are stated clearly and give the new gen y workers some reference to the procedures that they are required to follow to prevent overstepping certain boundaries. ) Flexible working hours Thirdly, workplaces are more demanding than ever in terms of hours and performance. Thats creating a rising tide of resentment among the Gen Ys flooding into the workforce. Gen Ys know what they want — and its not the all-work-and-no-life dynamic of their Boomer parents. We have watched our parents waste away in drab cubicles and count the days to retir ement, Call me idealistic but isnt work supposed to be part of life? Do I have to accept the idea that real life begins when I punch out at 8 p. . each day? Gen Ys want a rewards remix, according to Bookend Generations, a study from the Center for Work-Life Policy. Instead of the traditional plums of prestigious title, powerful position, and concomitant compensation, they value challenging and diverse job opportunities, stimulating colleagues, a well-designed communal workspace, and flexible work options, with 89% of Ys saying flexible work options are important consideration in choosing an employer. One successful flextime approach is Citis Work Strategies. This program started as a model for tomorrows green, cost-effective, and employee-friendly workplace but soon turned beneficial to many interested in flexible work arrangements. Realizing that in some instances Citi was wasting resources on office space that no one was using, the division suggested using office-sharing, hoteling at satellite offices, and work-from-home arrangements to reduce the organizations real estate portfolio while offering a new type of workspace arrangement. The program has since evolved to encompass part-time schedules, remote work, flexible start-and-stop times, compressed schedules, and job sharing. Employees apply through a formal process that requires them to fill out a work plan describing how they will do their job in its new flexible format, the potential impact on clients and team members, and the technology they need — such as webcams, instant messaging, and teleconferencing — to support their new approach. At the same time, managers are training to lead and supervise remote teams. Citis annual employee surveys show that the flex-work participants are consistently more engaged, more likely to stay, and more likely to recommend Citi as a great place to work. For these new 20-something workers, the line between work and home doesnt really exist. They just want to spend their time in meaningful and useful ways, no matter where they are. Generation Y is forcing companies to think more creatively about work-life balance. The employers who do are winning in the war for young talent. Research reveals that job hopping is not an end in itself but something young workers do when they see no other choiceOld assumptions about what employees value in the workplace dont always apply with Gen Y. Friendship is such a strong motivator for them that Gen Y workers will choose a job just to be with their friends. It feels normal for Gen Y employees to check in by BlackBerry all weekend as long as they have flexibility during the week. Today more than half of Suns employees work remotely from anywhere but the office. Understanding Generation Y is important not just for employers. Older workersthat is, anyone over 30need to know how to adapt to the values and demands of their newest colleagues. Here is a summary of the key findings: Gen Y represents approximately 20% of the economically active population of Singapore. Gen Ys in Singapore are confident, restless, tech-savvy and prefer an unconventional approach. Gen Y’s biggest fear is losing their family while their bosses and colleagues feel Gen Y’s biggest fear is to lose their job. Statistics show that 27% of Gen Y respondents have yet to identify their profession of choice, 57% of Gen Y respondents earn less than SGD 1500 and spend less than SGD 500, tobacco/alcohol, mobile phone and food are listed as top three items that Gen Y prefer to spend the most and that 45% of Gen Y respondents would prefer a Gen X supervisor. Also, Gen Y’s are mostly intrinsically motivated and Gen Ys score low in the General Role Stress index. Parents, non-Gen Y colleagues and bosses have conflicting perceptions about Gen Y than Gen Y themselves, which could be a threat! In summary, Singapore Gen Ys or the millennials make up 22% of our resident population, working out to 833, 300, with the female gender, topping the male cohort by about 20,000. They are wired, connected to virtual social sites, salivate for information, empowered, able to multi task, independent and the lists goes on and on. These are functional behaviours that will excite any HR recruiter. They too, carry a â€Å"dark side†. They can be easily bored, and demand instant gratification. ) No sense of belonging Next, a good manager must be fully identified with their sense of belonging in the company, institution, which provides service, as well as all its human resource integration, by achieving this, empathy, trust, achievement is required. However, there are many managers who have no sense of belonging with the company where they work and the organ ization is seriously affected, since it has not been built that trust is expected to manifest in development of the company, its development, where it is envisioned that all staff are fully committed to the organization. It is written that there is a degree of willingness that everyone has to follow the logic of coexistence or common sense, the more secure you feel that person within a group, the higher your sense of community and so Therefore the person will be more willing to follow rules. The sense of belonging is not only the assurance that the person gets when they feel that occupies a place within a group. In some cases, to feel a sense of belonging as Patricia Oliveira comment, this is taken into account, that human societies are always ongoing relationship with other neighbouring or rival, or integrated into larger ones. Also in most of them can set different smaller factions that are integrated within it with different interests subordinated to the common goal while in some associations, having achieved its initial objective is necessary to establish new goals and objectives that give meaning to their existence. The natural tendency towards disorder that produces human associations for retention must be a certain degree of sense of belonging to the same except for those who are not members. The same occurs in companies where there should be well-defined group cohesion, each member who integrates this fully identified with a sense of belonging. Oliveira notes that the pride of belonging to an association, a club, a business, a group of friends or family are what make these are not diluted. Another feature that ensures the health of a human organization is the existence of good communication, fast and fluid within it. A crucial piece in any society is the leader. In many cases this person represents the best and the worst of the organization you represent. Where you lead, manager, in our case, must show their membership, commitment, identification with the group. The leader holds the key to sense of belonging follow by members. Of course, to do so, this will be assessed all aspects that have generated confidence, security, respect, union commitment, responsibility. Aspects, which said the group and they have respected and are part of it, reaffirming their sense of belonging and permanence. Furthermore, Ana Tania Vargas comment, the strength of the sense of belonging in many cases remains, as a latent emotional, related to those features of collective identity that still maintain the leader sense for the subject. Therefore, the sense of belonging is a primary element of belonging and personal identification, collective and productivity in a company, group, friends, etc. Is a concrete expression of commitment to specific traits and characteristics of the culture that synthesize profiles of cultural identity in particular ways, for what is important in strategies for development promotive role. It should be added that the study of the processes of identity and sense of belonging, it is necessary to consider the many possibilities of organizing and sorting generated in these processes, that form intra-and out group practices, clearly sets and define the possibilities of collective action and the complexity of delimitation and structuring of the universe of their own cultural elements, ensuring for themselves the existence of the group, giving passes to the innovation process, appropriation, alienation to suppression of the brand values from out group. In the case of the Venezuelan reality, which manifests a number of external factors, including the impact of the state through its policies, regulations, laws, has influenced a determinant in the company and this has been the reality test ownership of management to the organization where they work, considering the reaction of many owners, managers, who have given way to insecurity, fear, no sense of belonging with actions that have undermined confidence and this has affected the way membership, both by management, as all members of the company. In other terms, this situation has reduced the many; sense of belonging that must be rescued all depends as has been consolidating the organizational culture at the time. DFID Project Colombia listed that the sense of belonging or membership is the personal satisfaction of each individual in the organization, its recognition as a human being, respect for dignity, fair compensation, recognition, development opportunities , teamwork and fair assessment, not only are components of organizational climate, it represents permanent elements of organizational culture. In order to provide or create a sense of belonging, companies must offer training opportunities, encourage creativity within job scope and provide both local and overseas exposure. To retain staff, all SYSTEMS Save Yourself Time, Effort, Money, and Stress must be in place. And there must be constant innovation so a company is assured of scalability and growth. Attainable short, medium and long-term targets should be set so there is no doubt as to direction. And there must always be a target to strive for. CONTINUOUS learning and skills upgrading must be part of a companys policy to retain employees. Every persons demands and expectations are different and change over time. SMEs have an advantage that some MNCs cannot offer a challenge and work experience that can motivate. Besides career advancement, staff welfare and the working environment must be priorities. SMEs should also try to offer a good lifestyle/work-life balance to retain talent on a long-term basis. For example, Grand Teams strategy to keep talent includes a shareholding scheme. To make employees feel they are working for their own future and career development, we let them own a portion of the company. 5) Communication barrier Lastly, the presence of a communication barrier between generations. In order to be an effective communicator we not only need to know how to adapt to different personality types, but we also need to understand the different generational issues that can create conflict in the workplace. The dynamics we experience today are unique to our era: younger generations have made a dramatic shift in work values leading to harsh judgments and criticisms within the work environment. Ultimately, this conflict of generational values hinders performance of individuals and weakens overall team success. We need to begin first by seeking to understand. If we can begin to understand what is important to each generation, we can then learn to see things in a wider perspective and begin to build bridges of communication between the gaps. With better understanding comes better communication, which leads to heightened tolerance and ultimately to successful collaboration between the generations. There are four groups in all. Firstly, the Veteran age group is generally comprised of those who are 55 and older. This generation is post-war and their nature is to be loyal to a single employer for a lifetime and in turn, they expect the same degree of loyalty back. Because this generation did not grow up with material wealth, in most cases, they tend to be frugal and do not understand the need to use debt to build business or the need for anyone to have debt at all. In the workplace, they show up on time and they take orders well they do as they are told because they respect their boss, as well as their elders. Secondly, the Baby Boomer age group is comprised of generally the ages 35 to 54 and is the children of the Veterans. This group grew up with little in the way of toys or nice clothes and vowed to give their children everything they couldnt have as children. In most cases, baby boomers grew up earning an allowance and understood the principle of working hard to earn a living. In general, they left home at the age of 18 and survival was a real issue. If a baby boomer was told to do something at work or else be fired he or she would do it because they were afraid of not being able to pay the bills. In the workplace they have a mentality of work, work, work, and then you ie. Lastly, Generation Y is divided into two groups. The first comprises of people 22 and younger. They are likely called generation Y because that is the question they ask most, Why? These are also the children of baby boomers and so far, are one of the most creative generations we have seen in a long time. Generation Y want to work where they are allowed creative expression, a flexible approach and control over their own hours. In the workplace, they show little loyalty because they already know they will have about 10 careers in their lifetime. They get bored very quickly and need more incentive to work than just a paycheck. Another group of Generation Y comprises of the ages 23 to 34 and are also the children of the baby boomers. A majority of this group grew up with both parents working and saw their baby boomer parents get laid off or witnessed them being miserable in their jobs. This helped shape their current value system, which is, I am going to have a life first and work will come second. This group is pushing for flex hours, 4-day workweeks, paid sabbaticals for education and paid parental leave for both fathers and mothers. In the workplace, you cannot threaten them to do something or they will get fired because they dont care. Most of them live at home until the age of 26 and do not experience the same survival issues as those of their baby boomer parents. Their main goal is to have fun at work, make a buck, and have a life. So why should employers care if employees in the different generations respect and understand each other? In a word: Retention. The costs associated with employee turnover are enormous (e. g. training, loss of employee morale, advertising for applicants, interviewing, productivity, etc. . Gravett and Throckmorton estimate that costs to replace an employee may total up to 150% of the employees annual salary, depending on skill level. In addition, the knowledge and talent that will be lost due to the retirement of the older generations without appropriate transition among generations could be financially devastating to companies. The employees coming into the labor force (Generation Y) are powerful in numbers and will be needed to make up for the shortage due to the retirement of the Radio Babies and the Baby Boomers. If employers dont help breakdown communication barriers now, they will find themselves short of talented workers when they are really needed. So what are the obstacles to bringing employees from the older generations together with employees from the younger generations for knowledge sharing? Competing personal desires that differ by generation, coupled with a lack of trust are difficult barriers to overcome to allow for knowledge sharing to take place. For example, Radio Babies (born 1930-1945) are ready for retirement and need to be provided an incentive to stay. Whereas, Generation Y (a very large generation) is not afraid of change and in fact, enjoy variety. A lack of fear regarding change and an enjoyment of variety, are important personal desires that employers must recognize. Identifying the driving personal wants of the generations is the first step to help foster knowledge sharing. Once the personal desires of the different generations are recognized and addressed accordingly (e. g. flexible work schedules for individuals ready to retire, creating a rotational job change for young professionals, etc. ), the focus should shift to identifying communication barriers. Individuals from the younger generations often feel that older generations do not respect or trust their ideas and therefore, leave the younger generation workers feeling undervalued. The older generation frequently perceives that the younger generation lack work ethic, and respect for authority and institutional practices. These perceptions (whether true or not) will lead to an inability to communicate. It is essential for an employer to identify the cause of the mistrust (which is almost always the root of any lack of communication) and work to build trust. We feel that this unmet need falls under the jurisdiction of Training and Development. This HR function will allow the workers to undergo training through either outside or inside sources and this will develop Gen Y and the older generation’s communication skills. Next, using the POEMS framework, we also have come out with several solutions to the respective letters. Under People, we feel that both generations should try to overcome this barrier together. As the saying goes, ‘it takes two hands to clap’. Not only Gen Y but also the older generations should try and overcome this barrier. With both sides working together, it will be much easier overcoming this barrier. Moving on, for Environment, having a conducive environment will make the people be more willing to put in more effort into trying to overcome this barrier. It has been proven that a more joyous and happy environment will lead to people being more willing to work together in harmony to a common goal. For Media, we can use it to increase awareness of this problem and as a result, will help solve this problem. How does this work? By raising awareness, people will be more inclined to try and solve the problem if it is at hand or do preventive measures to make sure that it does not occur in the future. Lastly, companies may send some employees to attend classes outside to improve communication skills as part of Services. Reflections Setting up a time slot for the interview was not an easy task. With the Gen Y interviewees busy work schedule, it was a hassle to even get a time slot with them. When it came down to doing the actual interview, the process was much more difficult to carry out. The interviewees, despite earlier agreements, showed to be quite reluctant in giving the interview. During the assessment, the interviewees showed many signs of disinterest unconsciously, examples include yawning, stretching and being disoriented. The interviewee also answered in short brief answers, giving answer that is very short, and a sign of impatience. `they were generally helpful, clarifying when needed but only when asked to. Overall, the experience was relatively fresh and enjoyable.