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This is Tom, Generation Y, also a known as a Millennial. That’s not some kind of secret
code for ‘super powers’, it means he was born somewhere between 1982 and 2004.
And this is Molly, Generation X. Molly’s grandparents had between 1 and 2 employers
in their lifetime, her parents – the baby boomers – had about 3-4. Molly is likely
to have double the number of employers her parents had, does this mean Tom is likely
to have double that of Molly? Confused? Don’t be. This means that Tom
could have 15 to 16 employers throughout his career, and if Tom has children, Generation
Z -or digital natives- they’ve been technology whiz kids since before they could talk, could
they have up to 32 employers? Since 2009, Adam Kingl from London Business
School has been surveying Generation Y to understand their attitudes towards work, employee
engagement, and leadership. He set out to answer a number of questions on the future
of business: If the number of employers doubles for each generation, what expectation does
this set for Generation Y who are already entering their 30s, and in some cases, already
leading in organizations? 90% of those surveyed said they planned to leave an employer within
5 years, with over a 3rd giving it just 24months. So, how can employers ensure value from employees
who only stay a short while? It’s a tough one, there’s almost 40% start a new role
already planning their next career move, and are rarely dissuaded by promotion opportunities.
54% actually feel more loyalty to their team than to the organization, but what matters
to them most is a good work life balance, and organizational culture.
So, Tom cares about his colleagues, but what else does he care about? 43% of the Generation
Y surveyed said, as future CEOs, they would prioritize making their organization and world
a fundamentally better place over focusing on the financial worth of the business.
So, as work life changes with the evolving priorities of Generation Y, which employers
will win the war for talent? They’ll be the ones who can redefine what it means to
work for them. We’re crossing a meridian where financial value is no longer king, and
social and human impact are increasingly important; a collective leadership culture is talking
hold, driven by a sense of community, and the courage to think beyond just the quarterly
results. Right now the future of business is being
shaped by Generation Y, but what impact can we expect when Generation Z are in charge?
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How is Generation Y changing the way we work? | London Business School

1239 Folder Collection
TeacherJennifer Bryne published on December 12, 2014
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