Are You Ready For The Millennium Generation?

They love their freedom, are very particular when it comes to work, don’t have a great sense of loyalty and challenge authority… The experts describe those who are today in the 22-29 year old age group as ‘the millennium generation’. This generation is slowly becoming more influential in the business world. In the next 5-10 years they will establish themselves in executive positions and make their mark on the world of business.

Sociologists describe the generation which was born between 1977 and 1994 as the millennium generation (“Y generation”) and list their most important shared characteristics as: self-confidence, freedom, individuality, and a passion for technology and speed. The members of this generation who are in their early 20s are now starting their business careers. There are even those who are so precocious as to have started their careers already. While companies have also begun to introduce changes to meet the expectations of the Y generation.

Gökhan Erun, Assistant General Manager for Human Resources at Garanti Bankası, says that they conducted research on the members of this generation and comments: “They give great important to the balance between work and the rest of their lives. They expect the company for which they work also to make a contribution to their personal development. They want a working environment which is not monotonous. We bear all of these things in mind during our recruiting processes and we have made some adjustments accordingly in our career planning.” We studied both this millennium generation which we shall see more frequently in the future and how companies are evaluating this generation.

They are very particular when it comes to work
The millennium generation is much more self-aware than previous generations in terms of self-confidence and knowing what they want, and they are very meticulous when it comes to choosing what job they want to do. Indeed, they do not make any concessions in this regard; to the point where they can even prefer to remain unemployed than to work at a job which they do not like.

Aylin Çoskunoğlu, Founding Partner of Human Resources Management, agrees with this evaluation. She notes that they act very knowledgably when they are looking for work. The Internet enables them to access all kinds of information on companies and be more selective when they are looking for work. She adds: “They can acquire detailed information from the press or the companies’ websites before they go to a job interview. Those who speak a foreign language very definitely want to work in a multinational company. When the time comes for them to choose a new job, they are much more particular in terms of the choosing the company where they are gong to work. If they cannot find the kind of a job they want after graduation, then instead of working in a company or kind of job which does not come up to their expectations, they prefer to remain unemployed.”

Good analysis will enable companies to hold on to them
This generation has now begun to make its presence felt in the world of business. Some of them are quite precocious and a not insubstantial number begin working while they are still at university.

Moreover, when one considers that over the next 5 to 10 years this generation will begin to rise to executive level in companies, it is clear that companies need to analyze their expectations. Compared with previous generations, the millennium generation has very different characteristics and expectations and companies which can conduct good analytical studies and change their management strategies accordingly can hold on to ‘the best’ human resources.

Management consultants note that this generation is more demanding and that when investments are made in enhancing their talents and their personal development then the possibility of them changing jobs declines. But they also say that if this is not done, their job loyalty is much lower than previous generations.

Fadime Çoban
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