Discussions on Generation Y have been numerous these years since HR has to find the right way to hire talent as well as manage staff of this age group which is expected to be very different from Generation X and Baby Boomers. Yet, a survey has found out that indeed Generation Y are not too dissimilar to the rest of the working population.
According to a survey conducted by recruitment consultant Hays, all three age groups prefer flexible work schedules but do not think they are essential. They all agree that work-life balance is the most important to their future. In addition, all three generations agree that a job that is enjoyable and meaningful is more important than one that pays well or is exciting.
Emma Charnock, Regional Director of Hays in China and Hong Kong, comments that all generations have similar preferred management styles. They want to be managed in a democratic fashion, and think that recognition and promotion should be based on merit.
The survey has found that all three age groups prefer working for a global corporation with better opportunities for overseas assignments. "Perhaps because of the value employers place on international experience," Charnock comments.
| Generation Y | Generation X | Baby Boomers | |
| An enjoyable and meaningful job more important than a high-paid one | 66.7% | 63.3% | 79.5% |
| Work-life balance the most important in future | 38.4% | 35.0% | 36.4% |
| Flexible work schedules preferred | 60.4% | 64.4% | 65.9% |
| Recognition and promotion should be based on merit | 87.4% | 91.5% | 95.5% |
| A democratic manager preferred | 93.1% | 88.1% | 90.9% |
| A global company with overseas assignments preferred | 97.5% | 94.9% | 90.9% |
As for their differences, the major one is on loyalty. For Gen Y, loyalty is best achieved through career progression opportunities, while for Gen X, it is through ongoing learning opportunities. For baby boomers, the key is work-life balance.
Another big difference is the importance of a corporation's reputation in deciding to accept a job offer. To Gen X, this factor is essential, but to Baby Boomers and Gen Y, it is desirable but not essential.
This survey covers a total of 1,341 respondents from mainland China, Hong Kong and Singapore, with 44.07% falling into Gen Y, 44.07% Gen X, and the remaining 11.86% Baby Boomers.
Source: JobsDB HK
Survey data supplied by: Hays Hong Kong
Updated: 22 September 2009