FEBRUARY 20188Almost 50% of the global workforce today is less than 30 years of age. This is a generation that has grown up with `never seen before' exposure to all kinds of information and knowledge. They are a completely informed workforce, who is driven by very different kind of motivators as compared to the generations preceding them. Most organizations are struggling to manage a diverse talent landscape ­ spanning across multiple generations ­ in a professional set up. Gen X was coined by Douglas Coupland in 1991. The phrase Generation Y first appeared in an August 1993 Ad Age editorial to describe teenagers of the day, which they defined as different from Generation X.Managing such diverse talent in organizations today has become both an art and a science. There no longer exists a clearly defined set of rules that can be considered as a `Standard Operating Procedure ' to be followed to the letter which would help today's HR managers navigate through the choppy waters that most companies resemble these days as far as their talent landscapes are concerned.Who are They?Generation Y is a generation that has grown up with technology since their childhood. They have increased awareness about politics and religion and this has resulted in increased tolerance towards differing cultures and points of view. The world for them became increasingly smaller due to digitization and the internet. They boons and banes of technology have certainly impacted this generation the most. There have been a lot of researches over time to understand the upcoming generation in the workforce and their preferences. The key influencers for Gen Y are the 3 P's mentioned below - Peers - Relational Connections With the advent of social networking sites like Facebook and Twitter, Generation Y has active relational connections which are dynamic and the same behavior is translated in their physical life. Generation Y embraces community values and tries to reach a consensus. They are extremely comfortable with a group of 3 to 8 people. There is an inherent necessity in this generation to be understood, accepted, respected and included. Since Generation Y has strong views and inclinations there is a need for real life role modeling. This generation needs guidance in the form of a mentor. In the world of personalization and abundance in the choices available, the mentor should be able to personalize advice for every individual based on the circumstances.PragmatismGeneration Y is very practical in its outlook. They are sensitive to IN MY OPINIONCHANGING TIMESBy Saurabh Nigam, VP - Human Capital, Omidyar NetworkCalifornia headquartered Omidyar Network is a philanthropic investment firm that invests in entrepreneurs and their visionary ideas to create opportunities for people to improve their own lives, their communities and the world around them.
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