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New generation employees and the business slowdown1

CRISIL Limited
CRISIL Limited

This document discusses different generational traits of Baby Boomers, Gen X, and Gen Y employees and how businesses can retain them. It notes that Gen Y employees value meaningful work, diversity, and social responsibility and want to ensure mobility every two years with constant feedback. The document then discusses how economic slowdowns can impact employee morale and company affordability. It suggests strategies for managing people during slowdowns, including enhancing productivity, cost cutting, and retaining good talent through performance focus, leadership, optimizing expenses, and potentially restructuring non-performing businesses.

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New Generation Employees and the Business Slowdown
Gen Y A snapshot Month DD, Year | 際際滷 2 息 ABB Group
Baby Boomer Born 1945-1965 Gen X Born 1965/61980 Gen Y Born 19802000 Trait Paternalistic and Idealism Free agency and independence Empowered and hope about future Leadership Style Top-down Competence Non-hierarchical Career Pay dues, build legacy Resourceful, self-manage Cutting-edge vs. experience Value Loyalty Freedom Meaningful work, Diversity & Social responsibility Rewards Job security and recognition Transferable benefits, flexibility and balance High pay, interesting work and work/life balance Communication Style Build consensus. Need balanced feedback Informal feedback is welcomed, but need efficiency and candidness in delivery. Communicate frequently. Provide the big picture. They use their networks for information, so send consistent messages. Outlook They can be perceived negatively as workaholics. They can be perceived as stressed or negative. They can be perceived as lacking respect for protocol (e.g. expecting quick success) How to Retain Them Provide stability, security, flexibility and continued development. Recognize their contributions and willingness to go the extra mile Provide them with flexible work options (informal and formal) and opportunities to work on varied and interesting projects and assignments. Provide frequent feedback Ensure they have mobility/opportunity every two years or so. Provide customized and flexible career options and constant feedback
Gen X Gen Y Security Conflicts Month DD, Year | 際際滷 4 息 ABB Group
What does slowdown mean for employees? Growth and Profits under Pressure Stock Prices fall Company affordability reduced Difference in ability between performers and non performer Employee morale declines Month DD, Year | 際際滷 5 息 ABB Group
Strategies for Managing people in a slowdown Enhancing Productivity Cost cutting Retaining good talent Month DD, Year | 際際滷 6 息 ABB Group Identify Key focus areas Performance orientation Leadership focus Optimize expenses More focus on non performing businesses Rightsizing
New generation employees and the business slowdown1

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New generation employees and the business slowdown1

  • 1. New Generation Employees and the Business Slowdown
  • 2. Gen Y A snapshot Month DD, Year | 際際滷 2 息 ABB Group
  • 3. Baby Boomer Born 1945-1965 Gen X Born 1965/61980 Gen Y Born 19802000 Trait Paternalistic and Idealism Free agency and independence Empowered and hope about future Leadership Style Top-down Competence Non-hierarchical Career Pay dues, build legacy Resourceful, self-manage Cutting-edge vs. experience Value Loyalty Freedom Meaningful work, Diversity & Social responsibility Rewards Job security and recognition Transferable benefits, flexibility and balance High pay, interesting work and work/life balance Communication Style Build consensus. Need balanced feedback Informal feedback is welcomed, but need efficiency and candidness in delivery. Communicate frequently. Provide the big picture. They use their networks for information, so send consistent messages. Outlook They can be perceived negatively as workaholics. They can be perceived as stressed or negative. They can be perceived as lacking respect for protocol (e.g. expecting quick success) How to Retain Them Provide stability, security, flexibility and continued development. Recognize their contributions and willingness to go the extra mile Provide them with flexible work options (informal and formal) and opportunities to work on varied and interesting projects and assignments. Provide frequent feedback Ensure they have mobility/opportunity every two years or so. Provide customized and flexible career options and constant feedback
  • 4. Gen X Gen Y Security Conflicts Month DD, Year | 際際滷 4 息 ABB Group
  • 5. What does slowdown mean for employees? Growth and Profits under Pressure Stock Prices fall Company affordability reduced Difference in ability between performers and non performer Employee morale declines Month DD, Year | 際際滷 5 息 ABB Group
  • 6. Strategies for Managing people in a slowdown Enhancing Productivity Cost cutting Retaining good talent Month DD, Year | 際際滷 6 息 ABB Group Identify Key focus areas Performance orientation Leadership focus Optimize expenses More focus on non performing businesses Rightsizing

Editor's Notes

  • #4: Source: Based in part on Meeting the Challenges of Tomorrow's Workplace, CEO Magazine, 2005 ; modified to represent India values
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