Youth, Risk and the Virtual Realm

High risks can reap high rewards, but they can also end in costly failure. So should employers welcome or shun risk-takers? Research has shown that Generation Y has a seemingly high risk profile. For example, Beck & Wade (2006) observe that online game-players are strongly encouraged to take risks, with trial and error seen the best strategy for success. They also argue that risk aversion accrues with age, following an increasing number of unpleasant experiences following failure.

So does this make Generation Y a liability to employers? While the evidence suggests that this population is naive around risk in the real world, it is important to observe Generation Y’s approach to risk-taking. An oft-used strategy for success, game-players mitigate risk by ensuring a transparent flow of information through the team and distribute responsibility amongst the other players according to their skill sets.

This demonstrates that, in order to succeed as a team, online game-players must take individual accountability for their actions and the risks they take. This implies a level of understanding, perhaps by even the youngest players, of responsibility distribution as an effective risk management strategy.

Indeed, the virtual world is not the same as the physical realm, in which Generation Y may not have the experience of older generations, but their risk-facing attitude combined with a strategic understanding of risk mitigation learned from online games could reap big rewards for businesses too.

Enviro Gen

At Christmas time we look back on the year, celebrate the successes with colleagues and spend time with our loved ones. This time of reflection is important to Generation Y. Not only do they immerse themselves in friends and family-life, they want to celebrate their work, to be proud of the company they work for, and be pleased with how they are progressing and what they contribute to the overall picture (after all, theirs is a world in which public affirmation is ego fuel). They want to be able to re-affirm the values that attracted them to the organisation they are in.

Like everyone else, Generation Y employees value salary, holidays and health benefits from their employer, but they also seek a sense of challenge and equality in recognition for outstanding work. Additionally, Generation Y looks to the company’s social responsibility; its active role in the community and wider environment. Many young entrants into the working world will interrogate potential employers about their environmental record and corporate social responsibility (CSR) policy.. According to a survey, 80% of Gen Y respondents said they wanted to work at a green company[1] and another poll revealed that 50% reported that their shopping habits were influenced by the retailer’s sustainability and environmental policy.[2]

At this festive time, the so called “me” Generation, form part of the increasing demand for ethical gifts from charity organisations like Oxfam. Ethical gifts, such as “Build a Bog” or “School Dinners for 100 Children” from such organisations, satisfies their desire to get something meaningful. The online availability of such gift attracts the techno savvy Gen Y shopper. So you see Generation Y don’t just care about themselves, they also care about what is going on in the world around them and what the organisation they are working for represents.

In fact, one of the team at Naked Generations got married in November and received just such a gift as a wedding present: the planting of 25 trees and 100 school dinners for children in Africa! Brilliant!


[1] http://jobsearch.about.com/b/2008/08/04/gen-y-job-searching-goes-green.htm
[2] http://www.environmentalleader.com/2007/09/14/47-of-gen-y-would-pay-more-for-green-brands/

Why, Why, Why, Why, and Why?

Ask ‘Why’ Five Times.  This sounds like the tactic of a typical Generation Y in business, always questioning the reasoning behind a task, frustrating managers everywhere with their seeming impudence and disrespect. This is in fact an established Japanese methodology which serves to improve the quality of a business process or product.  Continually asking ‘why’ gets to the root of most problems and highlights areas for advancement. Lancaster & Stillman (2003) argue that Generation Y are always seeking to improve their environment, viewing learning as a lifetime process. This, plus their immersion in technologies from a very young age, makes this a generation of early adopters[1], as they are always looking ahead for what’s coming next.

This makes Generation ‘Why’ a potentially (and hitherto mostly untapped) valuable source for information on future trends, which can provide real opportunities for businesses. If leaders encouraged and harnessed this combined love of learning and technology, they could transform their Generation Y into future visionaries, keeping the business at and beyond the cutting edge.

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[1] http://www.forrester.com/Research/Document/Excerpt/0,7211,46282,00.html

The answer to (un)employment is Facebook

The ‘R’ word. Eeek! But in the midst of all that reality the ‘Facebook Generation’ are jumping online to share grievances and report they are now free to work for anyone! Business Week recently reported exactly such a story about a former DHL employee: ‘First he snapped an iPhone picture of his severance letter and posted it to photo-sharing site SnapMyLife. He also updated his Facebook status line and eventually joined a group on LinkedIn for former DHL employees.’
Says an MIT professor: "These new channels are providing a sense of community in an environment where there is a sudden, almost compelled, need…not to feel alone"
Our recommendation? If you are a brave breakaway start-up CEO or a growing international firm look to your network of Y Gens to bring in fresh talent and build connections!