Trends in Employability & its impact on Millennial Generation

By 2015, 75 percent of the world’s employees will be young people (i.e. the Millennial Generation or Gen Y). They generally fall in the age group of 18-25 years, they are tech-savvy & they are bringing with them into the workplace a load of cultural diversity, habits and behaviours inhibited in the way they act, work, communicate, exchange and relate to their environment, people and their management. The main factors that appeal to them and help enhance their full potential are sustainability, opportunities to learn, collaboration and interaction in the workplace, kind of working environment & culture. They are of the view that an effective management in any organization can be brought about by going beyond managing the human resource & rather supporting the individuals who are the lifeline of the organization. The advent of the Generation Y into the workplace is bringing new changes that need to be addressed. The Generation Y is, perhaps, the most digitally sophisticated generation, they are looking for a sustainable environment offering a social structure within both a physical and virtual environment. They are flexible, mobile, and collaborative & prioritize the opportunities to learn, work colleagues and corporate culture & value when it comes to deciding for which job to apply for. The millennial generation prefers workplaces in an urbanised location with access to social and commercial facilities, good public infrastructure and the ability to use public transport or drive to work.  There definition of a workplace environment is where they emotionally engage with, a space where they socialise in with other co workers and a space which supports their health and well- being.

The newest and youngest members of work forces all over the world are making their presence felt, causing many businesses to re- think their working practices. The employers should attach a great importance to diversity in the workplaces and the factors that must be taken into account when considering workplaces as a likely strategic weapon in the battle to attract and retain scarce young talent. The Generation Y apparently believes they can achieve anything. They have been called ‘workplace divas’, millenials, homo zappiens… even Genys!

The positive aspects of employing & engaging this young talent comes with a price i.e. they are ‘high maintenance, high risk and high output’. They are now under more financial threats than the previous generations since the 2008 and 2009 crisis, they have grown up with green issues into their society, but there is no evidence that it is actually embedded in their culture. Although they bring energy and innovation to the workplace, the Generation Y is challenging to manage. They are demanding, as a right, a new reality from work. They insist on working flexibly, choosing when and where to work.

Thus, the trends predict both the boon & the bane inflicted upon the workplace by this generation, it depends on both employers & employees to navigate in the direction of win-win situation or having a win-lose situation.

(Information Source: http://www.johnsoncontrols.in/content/dam/WWW/jci/be/global_workplace_innovation/oxygenz/Oxygenz_Report_-_2010.pdf)