Our last survey in relation to Generation Y was undertaken in 2007 under extremely different economic circumstances. This recent survey is based on Generation Y and their attitude towards the economic downturn. 2010 was a turning point for Generation Y. As the first members of this generation approach their thirties and the worst economic slump of their lifetime begins to loosen its grip, we asked how the recession has impacted their attitudes and what can we expect next from them. Our survey was conducted the end of 2010 and the start of 2011. We surveyed over 500 generation Y candidates and held focus groups with over 60 of them.
Generation Y are becoming more career savvy, they know what they want, they believe they can achieve it and they are actively planning to do just this. They are optimistic about the future and while the recession may have dented their confidence slightly they don’t intend on letting it keep them down. Employers need to consider how they can harness this ambition and drive to get the most out of this demographic.
The economy has brought a new set of challenges to Generation Y in terms of job security and salary expectations. The objective of this report is to understand the mind set of today’s workforce and tomorrow’s leaders.
Our key findings can be summarised under the following headings:
• Impact of the recession • Satisfying Generation Y • Planning for the future