gen y - changing the rules of the game?

Gen Y:Changing the rules of the

game?2 Aug 2013PMG Meeting, Singapore

Let’s first understand the multi-generational work force

Traditionalists(Born before 1946)

Baby boomers(Born between 1946 and 1964)

Gen X(Born between 1965 and 1980)

Gen Y(Born after 1980)

Traditionalists Baby Boomers

Gen X Gen Y

Traditionalists Baby Boomers

Gen X Gen Y

Traditionalists Baby Boomers

Gen X Gen Y

Traditionalists Baby Boomers

Gen X Gen Y

Traditionalists Baby Boomers

Gen X Gen Y

Traditionalists Baby Boomers

Gen X Gen Y

Traditionalists Baby Boomers

Gen X Gen Y

Traditionalists Baby Boomers

Gen X Gen Y

Traditionalists Baby Boomers

Gen X Gen Y

Traditionalists Baby Boomers

Gen X Gen Y

“i”

Traditionalists Baby Boomers

Gen X Gen Y

Traditionalists Baby Boomers

Gen X Gen Y

Traditionalists Baby Boomers

Gen X Gen Y

Traditionalists Baby Boomers

Gen X Gen Y

Traditionalists Baby Boomers

Gen X Gen Y

Talented

Purpose driven

Social

Mobile

Tech-savvy

But if you ask the older generations…

High expectations

Don’t care about work

Instant gratification

Cryptic messages

Job hoppers

“Is this a language or what?”

PLZ

L8R

OMG

LOL

BRB

?4U

ROTFL

“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

But, are they misunderstood?

Highly adaptable to change

Value flexibility and want work/life integration

Desire a fun, collaborative and challenging work culture

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

Career and personal development opportunities are key motivators

Let’s take a look at the Singaporean workforce…

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)

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)

Now, let’s take a look at the global manufacturing industry…

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

Increased productivity

More complex jobs

More high-skilled people are required!

The Talent Paradox

What does all this mean for the industry?

Multi-generational

workforce

Manufacturing industry

challenges Changing demographic

landscape

You cannot ignore the tsunamion its way…

Gen-Y and younger generations will form the majority of the working population in the near future

“Common sense” will get re-calibrated!

What challenges does this throw up for the industry?

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?

… and the future

How do you recruit and retain a generation of

people whose loyalty to the organization is

questionable?

Here are some things that you can do…

Build a sense of purpose and meaning in work

Encourage mentoring

Review and adjust communication styles

Recognition with frequent

positive feedback

Raise supervisor awareness… and capability!

Understand and appreciate the values of the incoming generation

Embrace flexibility

Learning (for all round development)

Work timings

Work location ……

Provide open social networks with honest communication

And if you succeed…

Becomes…

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 | saurabh@accordsingapore.com.sg