Almost by definition, a generation consists of people who have shared similar experiences. These experiences naturally change proportionate to changes in the pace of technology and globalization. Consistent with these changes, employees are coming to terms, albeit reluctantly, with the fact that there is a gap between their current management pool, the so-called Gen X who were born between 1964 and 1978, and their entry-level employees, the Gen Y, who were born between 1978 and 1990.
While Gen X shared many of the values of their parents’ generation, believing in hard work, hierarchies and a gradualist approach to success, Gen Y is different. Gen X has generally played by the old HR rule book. Gen Y will not.
Gen Y is important because most of these people, now in their 20s, will be the wellspring of economic growth for any company. The company that motivates Gen Y will rule the next 20 years.
Also Read Govind Sankaranarayanan’s earlier columns
Recognizing the importance of managing this group, the Financial Times newspaper some years ago included Bruce Tulgan in its list of the greatest management thinkers. Tulgan, who with Carolyn Martin authored Managing Gen Y a decade ago, recognized early on the need to focus senior managers on this inter-generational change that was seeping through the workplace.
Although there is more knowledge on managing Gen Y in the US, much less awareness exists about this group in India. Therefore, managing this group requires an appreciation of where they come from, as some of my Gen Y friends quaintly put it.
Most members of this generation have grown up in a period of less scarcity than their elders. Having entered their adolescence after liberalization has left them without the ideological baggage of their parents. They are not quite so awed by famous brands and may seen to need rather quicker gratification. Many entered the workforce during the go go years of the early 2000s and have not, until last year, seen a downturn.
More the children of N.R. Narayana Murthy than of Gandhiji, they are comfortable with technology that has enabled them to multi-task and avail an array of educational and recreational alternatives.
Several Gen Y people I know well are substantially more multidimensional in their interests than their counterparts of 10 years ago. This group does want to see clear and direct correlations between effort and reward and is unlikely to work towards a vision it cannot believe in does not buy into. This can frustrate managers, who are used to communicating fuzzy and illogical plans and expecting these to be mindlessly followed.
Many managers express frustration that this group walks in through the door expecting a management responsibility with little regard for the experience others bring to the table. There are also complaints about their candid criticism of workplace culture and company strategy.