Valleys of Virginia Blog

Here's an interesting new study on differences or lack there of with Millenials.  This comes from the June 22nd ASTD newsletter:

 

A to Z of Generation Y
Financial Times (06/17/09) Maitland, Alison

Two studies have been conducted on "Generation Y," the population that was born between the late 1970s and 2000. They show that these workers are not as different from other generations as originally thought. Approximately 90 percent of Generation Ys say that they are loyal to their companies, according to the study Bookend Generations. Additionally, nearly 50 percent of the generation says that they prefer face-to-face communications at work instead of e-mails, texts, or telephone calls. Loyalty was also an important finding in the European research. Many workers were surprised by their loyalty to their companies, but they also acknowledged that if they needed to move on, that they had no problem doing so. Additionally, Generation Ys are quite similar to baby boomers in many ways. "Both Gen Y and boomers are looking for what we call a 'remixed' set of rewards," says the study. Both generations find it important to have good co-workers, flexible work, recognition and access to challenges, and financial compensation. Data also shows that the recession has not resulted in an impact on work performance. Even though there has been a rising amount of job insecurity and financial pressures, many workers still look at the meaning of their work, now more than ever. The idea of earnings-driven goals has fallen. It is hard to determine at this point if Generation Y is that different, some say it will take 20 to 30 years to come to that conclusion. Two factors do make the population unique: the pace of technological change and the sacrifice of job for a life. Some people have put their career moves on hold or lowered their expectations, while others see it as an opportunity to travel or switch career paths. Generation Y is very flexible and adaptable. There are a few things that motivate Gen Y: self-management, mentoring, technology, equality, and work as pleasure.