We've gone all Gen Y and set up on Facebook! Find us by clicking the title of this blog (or click the link below) and link up with the business through the 'become a fan' link once you're logged in, and you'll see this blog and all our updates through the site. You can also subscribe seperately to our RSS feed. We've posted the full address we gave at the Brussels Talent conference in October on there too!
http://www.facebook.com/pages/Naked-Generations/33391595546?ref=ts
See you soon!
NG Team
Oct 31, 2008
Oct 24, 2008
Gen Y playing 'Leap Frog'
“Job hopping is fashionable and it gives me independence” – the popular opinion? Well, maybe.
But what is it doing to the Corporate P&L? Speaking to one significant Top 100 graduate recruiter, of over 1,000 graduates a year, we found that the investment figures were substantial, and the drain is too! This particular business was spending roughly £200,000 per graduate, in a 2-year window, and once they had completed their initial training programme they were so well qualified that they could work anywhere. No need to stay and do the spreadsheets, or ‘start from the bottom, and work your way up’. 'I’ll just hop over to another company and employ that skill i've got'.
50% of this companies graduates leave after 2 years, causing a £100 million drain on their investment. Over the next 5 years they are likely to lose half a billion pounds worth of graduate investment spend!
Another US based firm told us that they are struggling to keep graduates beyond the initial training period. From our own research we know that they are actually being sabotaged by the Facebook network! Here's how: Graduate and Post-Graduate recruiters from a major international bank had looked up who was on Facebook and had listed their employer. From this data they set up a Facebook group and invited across the relatively new entrants in the target firm (who had been training that group) to a dinner in London, in order to 'court' them! They were valuable. The attracting company didn’t need to invest in core skills, only cultural adaptation. Needless to say the dinner will have cost significantly less than the training - even at the Ivy!
And what are the positives? First, the aforementioned UK recruiter with its half a billion drain? They don’t care. They said that the fact that the grads were being trained in their firm and then left meant that the brand was getting out there and would return business to them in the future. A ‘long term’ investment I’d say. And, in the second example? Use Facebook and Y Generation networks to bring in new talent! Generation Y is the most connected generation, and they like to work with their friends – it’s the ‘Experience’ they care about.
But what is it doing to the Corporate P&L? Speaking to one significant Top 100 graduate recruiter, of over 1,000 graduates a year, we found that the investment figures were substantial, and the drain is too! This particular business was spending roughly £200,000 per graduate, in a 2-year window, and once they had completed their initial training programme they were so well qualified that they could work anywhere. No need to stay and do the spreadsheets, or ‘start from the bottom, and work your way up’. 'I’ll just hop over to another company and employ that skill i've got'.
50% of this companies graduates leave after 2 years, causing a £100 million drain on their investment. Over the next 5 years they are likely to lose half a billion pounds worth of graduate investment spend!
Another US based firm told us that they are struggling to keep graduates beyond the initial training period. From our own research we know that they are actually being sabotaged by the Facebook network! Here's how: Graduate and Post-Graduate recruiters from a major international bank had looked up who was on Facebook and had listed their employer. From this data they set up a Facebook group and invited across the relatively new entrants in the target firm (who had been training that group) to a dinner in London, in order to 'court' them! They were valuable. The attracting company didn’t need to invest in core skills, only cultural adaptation. Needless to say the dinner will have cost significantly less than the training - even at the Ivy!
And what are the positives? First, the aforementioned UK recruiter with its half a billion drain? They don’t care. They said that the fact that the grads were being trained in their firm and then left meant that the brand was getting out there and would return business to them in the future. A ‘long term’ investment I’d say. And, in the second example? Use Facebook and Y Generation networks to bring in new talent! Generation Y is the most connected generation, and they like to work with their friends – it’s the ‘Experience’ they care about.
Oct 16, 2008
Naked profiled in Sandbox blog
Naked Generations was profiled in a blog about the CWC conference event where we were invited to share our vision about 'next generation leadership', by Sandbox, an international network of 'Future Talents' (sub-30, aspiring leaders). Sandbox's Christian Busch, said: 'Old management paradigms ... are outdated; New leadership models are emerging around Generation Y', and, referring to Naked Generations: 'Who could teach or rather share these insights and models better than those who have already employed them in practice?'
Oct 14, 2008
Maslow and Generational Motivation
Why do we work? Security? A sense of identity? Self-fulfilment? Each generation is motivated by a set of needs and thus creates an environment which satisfies them. From this new world the next generation arises with a different set of needs. The causal relationship between generations’ motivations can be mapped onto Maslow’s Hierarchy of Needs. Maslow explains that different needs grow out of each other, beginning with physiological, then safety, belonging, esteem and finally self-actualisation.
Baby Boomers (1946-1964), cultured by Builders (1925-1945) grew up in aftermath of the Second World War, so when they embarked upon their career, they sought security and a sense of belonging (as a result of scarcity). The world had stabilised by the time Generation X (1965- 1978) entered the workforce, satisfying the lower three needs, meaning they were motivated by a need for esteem. Generation Y (1979- 1995) has grown up in an affluent society, with all four lower needs cared for, so they are seeking work which 'fulfils' them.
Companies created by Baby Boomers and Generation X cater for their needs, but not for Generation Y. If employers want to retain and motivate this population, they need to target their desire for self-actualisation, such as encouraging and realising innovative ideas, ownership of projects and helping them understand their identity within the organisation.
Generation Y enjoys security, money and status like everyone else, but they are reaching for something more.
Baby Boomers (1946-1964), cultured by Builders (1925-1945) grew up in aftermath of the Second World War, so when they embarked upon their career, they sought security and a sense of belonging (as a result of scarcity). The world had stabilised by the time Generation X (1965- 1978) entered the workforce, satisfying the lower three needs, meaning they were motivated by a need for esteem. Generation Y (1979- 1995) has grown up in an affluent society, with all four lower needs cared for, so they are seeking work which 'fulfils' them.
Companies created by Baby Boomers and Generation X cater for their needs, but not for Generation Y. If employers want to retain and motivate this population, they need to target their desire for self-actualisation, such as encouraging and realising innovative ideas, ownership of projects and helping them understand their identity within the organisation.
Generation Y enjoys security, money and status like everyone else, but they are reaching for something more.
Oct 6, 2008
EIIL Conference
Naked Generations has been invited to Chair the European Institute for Industrial Leadership conference in Brussels, in October 2008. The EIIL is dedicated to developing a sustainable supply of future leaders for technology-led and manufacturing industry in Europe, and is committed to the continued professional development of engineers, scientists and technical professionals and to encouraging young people into careers in the technical professions. The conference will be addressing the specific challenges around attracting Generation Y into a technical career and will draw together Industry, Higher Education and Generation Y to aid knowledge transfer and best practice learning between the Generations.
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