Generation Y: Powerhouse of the Global Economy
Restless generation is a challenge - and a huge opportunity - for employers
Amid the many challenges facing organizations in the current global economic environment, recruiting and retaining the best workers of Gen Y is vital to support growth initiatives today and in the future.
Deloitte's latest snapshot on the Gen Yers who are already in our work force finds that Gen Yers are a hidden powerhouse of employee potential and critical for global business in tough times. Future-orientated, ready to contribute now, opportunity driven: these are the characteristics of a generation that is already making its mark on the work world. They remain optimistic in the midst of the current economic turmoil. But Gen Yers are also highly restless. The generation brought up in an era of rapid technological change will seek to earn greater opportunities for rapid advancement and more responsibilities at a younger age, requiring organizations to change the way they attract, develop, promote and retain these talented individuals.
The way employers respond will determine whether they can tap this hidden powerhouse of employee potential in a time of tight budgets and economic uncertainty - or lose them to their competition.
In this report, we analyze the following key findings from the survey:
- Generation Y is confident at a time of high anxiety
- Generation Y values opportunity over job security
- Gen Y wants - and is receiving - more responsibility, earlier
- Gen Y trusts superiors and wants to work with them
Deloitte's snapshot of Gen Y work force attitudes makes clear that Gen Y presents both a huge opportunity and a huge challenge for today's employers.