Why Generation Y?

Each generation imagines itself to be more intelligent than the one that went before it, and wiser than the one that comes after it. — George Orwell

“They’re narcissistic. They’re lazy. They’re coddled. They’re even a bit delusional.” The Time magazine article titled “The Me Me Me Generation” (May 2013) describes the Millennials (a.k.a. Gen Y or Millennials) that have begun to enter the corporate realm as young professionals. With more Millennials entering the industry, career goals, working styles, and the very definition of success have been altered dramatically. Nonetheless, before we can attempt to bridge this generation gap, it is important to consider the characteristics of Gen Y as compared to those of Gen X and Baby Boomers. Even more importantly, we must consider what differentiates success for Gen Y from these previous generations. By doing so, we will then consider the implications of these differences and what can be done to profit from them.

Millennials include those born between 1982 and 2000, and they are frequently described as selfish, narcissistic, impatient, and self-entitled. In a closer examination of the perspective of those of the Millennial Generation itself, this can only feel disheartening. Is this really how Generation X (and their Baby Boomer predecessors) view this generation? To our surprise and relief, it was not.

EY’s survey conducted in June 2013 included 1215 professionals that fulfilled both managerial and non-managerial roles. The survey incorporated Generation Y (aged 18–32), Generation X (aged 33–48), and Baby Boomers (aged 49–67). The questions aimed to understand the strengths and weaknesses of workers from different generations based upon the employee-peer perception. The graph below depicts the results of the survey:

Key findings included the following:

• Baby Boomers are seen as hard-working and productive, while Generation X is seen as the best team players with attractive entrepreneurial skills.
• Millennials are tech-savvy and social media opportunists.
• Younger managers are rising in ranks.

To make sense of this, it can be assumed that Generation Y has a strong wish to take on more responsibility and a need to be treated with meritocracy.

Of greater importance, however, is the variation of Generation Y’s definition of success compared to previous generations.

Warren Greeves, a fourth-year economics student, had the following to say:

I personally would define success based on interactions with other people. I consider the assistance of people more fulfilling than the pursuit of something strictly for my own gain. In order for me to feel engaged in an issue, I need greater social context.

Similarly, when asked, Izzah Khan, a second-year accounting student, had the following to say:

Success to me, I have realized, is making myself happy without sacrificing the needs of others. In the future, when I set out obtaining a career, when I look at the companies I will apply for, I will ask myself what can this company do for me? Corporate responsibility and work-life balance are as important to me as money is. I couldn’t consciously work for a company that practiced in an unethical manner or that didn’t value the happiness of their employees as much as they valued making a profit.

As cliché as this may appear, the EY survey research findings proved true to a large extent.

Millennials are not all driven completely by materialistic values entrenched in a demoralized sense of narcissism. In fact, it appears that Generation Y is seeking success that encompasses real values that permit them to make a genuine contribution, incorporating formal education with work-life balance.

In comparison, the Gen X and Baby Boomers have a dissimilar view on success, hence leading to their disapproval of Millennials’ work practices: while Millennials thrive under productive multi-tasking and flexibility, Baby Boomers prefer to have face-to-face interaction.

Additionally, Millennials have career goals that look towards making an impactful change, while Baby Boomers and Gen X are more focused towards attaining work-life balance and “getting the job done.”

Millennials are constantly seeking feedback from upper management because their wealth of expertise and experience can be passed on via mentorship opportunities, invaluable to both parties. These exchanges can be introduced between industry professionals and Gen Y university students through organizations such as ISEEESA (Institute for Sustainable Energy, Environment and Economy Students’ Association) at the University of Calgary.

Programs that promote the use of new technology and appoint students to introduce these concepts to their community increase the potential successes of the company, while bridging the generation gap.

While this gap will continue to persist in today’s multi-generational world, it is essential to overcome this challenge through communication and participation from the Baby Boomers, Generation X, and Generation Y. Through collaborative effort, common ground may be found among the generations, allowing for a dynamic, interactive, and an increasingly efficient, harmonious work environment.