DoMS-IIT Delhi to Host Rostrum Seminar Series 2006

DoMS-IIT Delhi to Host Rostrum Seminar Series 2006
HR Rostrum: "New Generation at Work: 'Y' Should You Care"
On August 5, 2006 at Mumbai

Context of the Seminar

Over the last couple of years, the realities of massive generational change have dawned on many business leaders. A generation is defined not so much by when they were born as when they were young.

Each generation forms core values that remain with them throughout their life, based on the events and circumstances that surrounded them during their formative year. While the issues of an ageing population and a new attitude to work have literally been emerging for a generation, it has been a sudden awakening for many organizations. In fact, dealing with these demographic changes and specifically recruiting, retaining and managing Generation Y has emerged as one of the biggest issues facing employers today.

There are a variety of ways of defining Generation Y, Generation Y are those born from 1980 to 1994 inclusive. Generation Y has a reputation for little company loyalty and poor job commitment. Clearly, Generation Y have a shorter tenure in a job but the cause isn't so much a lack of loyalty or commitment but a desire for variety, challenge, and change. Gen Y can be considered Gen "Why?"

In the future, organizations will be characterized by technological advancement, continual change, uncertainty and increasing complexity. Gen Y has the characteristics to provide the sort of leaders they will need. Y'ers are: -

At ease with the requirements of technology, diversity and uncertainty;

Familiar with a complex mix of routine and non-routine tasks;

Flexible, multi-skilled risk takers who can multi-task.

Organizations hoping to compete in the future must learn to develop and enable the 'bring it on' attitude. The business reality is that organizations are only now implementing strategies to attract and retain Generation X. They are, in fact, still a generation behind. Generation Y thinks and acts differently and has different experiences, values and aspirations. Why do HR strategies treat employees as one when there are four generations working side by side? Why do they focus on stability when we live in an uncertain world, when incidents such as September 11 have changed our perspectives on the value of life and when Generation Y want to experience all that it can, and make a difference through all that they do?

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