Work and the Y Generation

Generation Y (born between 1981 and 1995) looks at work differently than preceding generations:

• Half of them say they are ALWAYS looking for a better job, and that is of a group of more than 60 million (of course dont include those born in the '90s, that would be child labor)*
• Only 43% of them are currently satisfied in their job.**
• Only 36% of them hope to work for the same company in two years.**
• 60% believe that their workplace's internal training is important in their decision to stay but only 43% say that they are satisfied with what they are learning on the job.*

Compared to other generations those numbers are significant:

• Generation X (age 25-39) - 65% are currently satisfied with their job and 62% hope to work for the same company in two years.** 55% are satisfied with what they are learning on the job.*
• Baby Boomers (age 40-58) - 68% are currently satisfied with their job and 75% hope to work for the same company in two years.** 53% are satisfied with what they are learning on the job.*
• "Matures" (age 59+) - 77% are currently satisfied with their job and 78% hope to work for the same company in two years.** 56% are satisfied with what they are learning on the job.*

Why does Generation Y have such a different feeling about work? There are many explanations, here are some:

• Dissatisfaction with entry level positions (and all generations experience this one)
• Unfufilled expectations in the workforce
• Many saw their parents laid off from their jobs and have translated that into looking out for themselves
• They are tech saavy and have a strong need to continue to learn and grow, particularly with those skills
• They are the most educated American generation ever and look to their work as an engine to fuel their continuing education.

At any rate companies need to be prepared to attract and retain Generation Y works while planning around a workforce that will be more transient than ever.

* From the article 'Workplace Generation Gap Growing', 10-22-2004. http://www.us.randstad.com/webapp/internet/servlet/News?id=49

** From the Randstad 2004 Employee Review/RoperASW Survey