Change in work priorities of Gen Y in India

Cut two!

Welcome to the world of Gen Y, where everything seems to have not only taken a U-turn, in fact they have taken a Y-turn. The young professionals of today's world are totally focused, ambitious, want to do well ' and not just that, they want to grow quickly.

A research conducted by Steelcase, a global office environment's manufacturer, Michigan, explains a human-centered research project, which explores work behaviors and attitudes of young professionals in India.

The research focuses on paradigm shifts in the nature of the workplace, which gives valuable insights into the revolution of the office. This in turn identifies opportunities in work environments and maps the future of the Indian corporate sector.

Generation Y, is the fastest-growing segment of the workforce pool. The research revealed that drawing the attention of 'Gen Y' to the workplace and retaining their interest and talent will collaborate in optimizing the success of the organization.

The "Generation Y in the Workplace" study was a cross-market study conducted in India, China, and the US by Steelcase WorkSpace Futures - the global research arm of Steelcase.

India and China represent nearly one third of the world's population and are key growth drivers for the global economy. With 644 million people, aged 30 or younger in these two markets, leading and shaping how the world and the workplace evolves over the next 20 years. This will bring along with itself newer opportunities.

The basic idea of this study is to engage and motivate workers and retain the right talents, keeping in mind the transformation of the workspace.

This research aims to provide a good foundation for office space design and developing new best practices to successfully attract, engage and retain talent.

This generational shift in attitudes is all the more important because this group is growing so rapidly. Roughly 48% of India's population is under the age of 25, and teenagers among them number about 160 million. As of today they wield $3.2 billion worth of discretionary income, and their families spend an additional $4.7 billion on them every year.

By 2015, Indians under 25 will make up 55% of the population--and wield proportionately higher spending power.

According to Uli Gwinner, president, Steelcase Asia Pacific, it will help the companies to plan better and create a better workplace for Gen Y. "With the increasing influence of the Gen Y knowledge workers at work, we are assured the importance of understanding the major trends happening in the workplace.

"The key implications of our research provide good insights to the Indian company management enabling them to better plan and design the future workplace for this next generation workforce," said Uli Gwinner, president, Steelcase Asia Pacific.

"We believe when the workplace better supports workers, business results improve, and so do worker attraction, engagement, satisfaction and retention."

One of the key observations were that there has been a shift from "family first" to "me first", "my work", "my friends", and "my world".

The Gen Y wants lots of money, faster and quicker and are always optimistic about new possibilities and the future. The inter-departmental and intra-departmental competitions inspire employees to be competitive and winners are recognized and rewarded.

For Gen Y work environment is a prime attractor as it enhances employee image and offers prestige and for them it's all about it's about differentiation as to how they are compared to others.

Steelcase WorkSpace Futures synthesized the data and developed the insights based on employee responses, across a number of multi-nationals and Indian corporations.

From the research, most of the workers emphasized a strong desire for creating a workplace that is fun and that supports cross-team and generation sharing and collaboration.

"This multi-functional work environment will transform the workplace design to provide a more user-centered office environment that enhances work flexibility and also facilitates easy and constant communications among teammates," added Gwinner.

Some Key Understandings of Gen Y

· Optimistic about new possibilities and the future

· Keen sense of competition both regional and global

· Deep interest and pride in owning state-of-the-art technology

· Shifting focus from Family First to Me First,: My Work, My Friends, My Things, and My World

Some Key Observations of Gen Y

· Peer to peer interaction, quick collaboration and learning from others is the way to get the work done and achieve growth

· Traditions, religious beliefs and cultural values are deeply embedded in the minds and hearts of people, and are present in modern work life

· Type of work can not be isolated from its impact, company's reputation, and salary paid

· Focus on RAPID growth

· Social relationships are of prime importance

· Work Environment is a prime attractor as it enhances employee image and offers prestige