Management Blog

Older workers 'envy' Gen-Y: study

Members of Generation Y are no more demanding than previous generations and could be missing out on jobs as a result of generational envy, a new study has found.

Research by the UK's Ashridge Business School argues Generation Y members have been the victims of largely media-driven claims that they are difficult, management-issues reports.

It's suggested envy might be behind this image problem, with older generations projecting a degree of jealously over how the youth of today acts and what they are permitted to get away with.

Contrary to popular belief, the study claims Generation Y members are hard working, ambitious and motivated.

Researchers also suggest the demographic grouping has a strong desire to learn, preferably through digital channels.

Has Generation Y been hardly done by? Are you secretly jealous?

Immediacy matters for Gen Y consumers

A new report on how to engage Generation Y consumers in the online environment claims immediacy is the key to success, the Customer Experience Matters blog reports.

After reviewing the online experiences of retailers, auto insurers and car manufacturers, the Forrester Research report identified three strategies for fostering immediate marketing communications:

1. Constantly update content - Gen Y consumers are prone to return regularly to websites they know will be updated

2. Be upfront - provide a clear call to action as early as possible to convert visitors into purchasers

3. Provide feedback - engage visitors with rewards, notifications and other feedback experiences

According to the blog, examples of these strategies in action include user-customised recommendations, constantly updated lists of high selling items, and instant quoting systems.

Profiling Australia's business owners

Australian Bureau of Statistics (ABS) researchers have developed a profile of the typical Australian business owner, The Advertiser reports.

According to the ABS, this person is generally a family man who has completed Year 12, works on a full-time basis and puts in long hours at the workplace.

Researchers also claim this typical business owner is not as concerned about global economic instability as you might think.

The ABS study says business owners are generally optimistic about their future with 96 per cent saying they will still be in business in a year's time.

Generation Y least engaged at work

A new international study suggests members of Generation Y are the least engaged members of the workforce, management-issues reports.

The study by US consultants BlessingWhite, which surveyed 7,500 employees across the globe, indicates around 25 per cent Generation Y employees are disinterested in their jobs.

But is it just a stage they're going through? The study claims Generation Y's lack of enthusiasm may be a result of their generally low position in organisational hierarchies.

In addition, the report authors say younger workers may not be fully engaged because they often don't have a clear picture of what makes them happy.

Older employees love their work

A British survey indicates older employees are more likely to be happy at work than their younger colleagues, the BBC reports.

The Vodafone survey found seven out of 10 employees aged over 50 years said their job was fulfilling; in comparison, around 50 per cent of 25 to 31 year olds enjoyed their work.

In addition, 97 per cent of survey participants aged over 65 said remaining at work meant they felt 'enabled' by their job as opposed to 61 per cent of 31 to 35 year old workers.

The survey authors say older workers may feel more fulfilled than younger employees because they have passed through the high-pressure stage of balancing a career and young family.

Gen Ys are our tech mavens

When it comes to technology, Generation Y has the ability to make or break a new product, new research has found.

Reporting on a recent Forrester Research study, Smart Company explains that Gen Ys are more likely to possess a PC, video game, broadband or home network than any other generation.

They are also voracious consumers of media content. Gen Ys are more inclined to read blogs, be involved in social networking or watch online videos than other age groups.

The study claims Generation X are large technology users but more inclined to use it to support a lifestyle need as opposed to Gen Ys who embed gadgets in everything they do.

Retirement not so attractive for older workers

More statistics have been released that indicate Australians are avoiding retirement.

Australian Bureau of Statistics figures reveal the number of people who are working beyond the traditional retirement age has increased by half in three years, The Age reports.

In 2006, an average of 77 per cent of males and 60 percent of females aged between 55 and 59 remained in the workforce, almost twice the number of similarly aged workers a decade ago.

Change for the over 60s has also been dramatic. The figures reveal 58 per cent of men and 36 per cent of women in this age group are staying at work, a 19 per cent increase from 1997 numbers.

Capturing Gen Y consumers

When it comes to spending nobody does it better than Generation Y, according to a new study by commercial property consultants Jones Lang LaSalle.

The report found Generation Y will be the biggest spenders in the consumer market by 2015; a development made possible by the financial assistance of their Baby Boomer parents.

However, retailers are warned not to offer this group 'a retail as usual' approach. Jones Lang LaSalle say Generation Y consumers expect a lot more from each shopping experience.

Strategies said to appeal to Generation Y consumers include extended trading hours, continually evolving products, pop-up shops and gadget-focused, personalised marketing.

Entrepreneurship... not a family affair?

The latest Sensis Business Index has found 60 per cent of small businesspeople do not come from a family of business owners, ABC reports.

The survey also indicates first-born children are more likely to become entrepreneurs than the youngest child, a finding that contradicts popular belief on SME related family dynamics.

However, Swinburne University management researcher Professor Murray Gillin suggests the findings need to be viewed with caution.

He says passion and commitment – as opposed to birth order or family background – are ultimately the hallmarks of a successful entrepreneur.

Younger workers poor and transient

As a result of HECS debt, high petrol prices, decreasing home affordability and increasing living costs, Gen Y workers are the most money-hungry age group, a new Seek study has found.

Not surprisingly, the survey found one third of Generation Y respondents considered remuneration to be the most important aspect of their job.

The Generational Y category was also identified as the most transient of workers; over 70 per cent said they intended to leave their current employer in less than a year.