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Generation Y is also known by several other names including the Millennial Generation, Generation Next, Echo Boomers, and Net Generation, and represents the demographic age bracket after Generation X (Tapscott 16). There are no exact dates marking the beginning and the end of the millennial generation, reviewers have marked the generation's birth dates from around the mid-1970s to the beginning of the 21st century. The characteristics of Generation Y vary from one region to another, depending upon social and economic statuses. However, the generation is typically marked by a heightened use and conversance with digital technologies, communications and media.
Generation X members are mostly between the age of 30 and 40, and they are generally more diverse ethnically and well educated compared to members of Generation Y (Generation X Americans born 1965 to 1976). More than 60% of Generation X members attended college. Generation X individuals like getting instant feedback. They also like giving feedback to their colleagues. In most parts across the globe, the upbringing of Generation Y was characterized by a growth in a neoliberal approach to economics and politics. However, the impacts of this environment are challenged, but what is clear is that Generation Y is closely associated with the interment. The internet is very addictive to this generation because of information and freedom. Generation Y visits websites to get information, such as music, stock prices and news. O the generation, using the Internet can be likened to a child visiting a toy store.in other words, there is a lot to do and search that once they get in they never want to leave. Generation Y people use the internet because the Internet provides them with freedom to do anything they want, to say anything they want and to be anyone they want.
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Advantages of Baby Boomers and Generation Y
During the early baby boom era that was between year 1945 and 1964, 76 million children were born in America alone and this injected fresh skills into the labour market, which were adversely needed to drive industrialization and economic growth (Whitbourne 283). This big population also provided global market for industrial goods and services. Baby boomers also spearheaded very remarkable social changes that were experienced across cultures, races and nations, and initiated the bridging of racial gaps. Baby boomers went against some racial conservatism and used common viewpoints that were shared among all races, like music, movies, and arts, among other common elements (Wuthnow 276).
Generation Y members are the successors of the baby boomers brought up by parents who were determined to make changes and not repeat mistakes that had been made by earlier generations. Generation Y, therefore, grew up to be very confident, ambitious and achievement-oriented and are today's workforce who want to share ideas and not ready to waste time in meaningless tasks. Generation Y members are also ready to question the authorities on the decisions they make. They maintain social responsibilities that are currently demanded by many company stakeholders. This is because this group is oriented for community service and is qualified and experienced to serve in companies that have well-refined organizational culture based on their acquired skills while they learn.
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Generation Y members are also technology-oriented, enjoy it and seeks for new means of maximizing the benefits brought about by technology. This is an important zeal for company development, having that new production and industrial technologies change with time. Therefore, to be competitive enough and technologically relevant, companies must hire workers who are technologically savvy and capable of advancing their knowledge and skills for more innovations (Fenn 106).
Generation Y members are flexible and resilient to adopt any kind of technology like Twitter, Facebook, Google, among other technologies that have greatly improved networking and sharing of information regarding company developments, sustainability of customers and economic growth. Equally, this generation achieves much in education and brings with it bright ideas into organizations and sports. Generation Y members also have the ability to multitask with the desired quality and time limit.
Disadvantages of Baby Boomers and Generation Y
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The social changes that baby boomers effected resulted in loss of cultural identity. This degeneration of cultural identity was later passed to Generation Y and today, with the current young generation referring it to modernity and civilization. Many nations are today fighting to keep their cultural heritage. A large number of baby boomers work for longer hours and this makes it difficult for Generation Y to secure jobs or get promoted to higher positions (Eastman 68). This problem can be solved through making arrangements where old-hand workers can choose to work for fewer days, have longer vacations, so that that can give more job opportunities for the younger more talented employees.
Baby boomers do not plan well for their future. They are very determined to raise small families and do not consider the later effects of aged population to the world economies (Dailey 31). Currently, Japan is feeling the heat of having a larger percentage of its population very old that it cannot actively engage in productive duties to build the country's economy. Generation Y will be disadvantaged due to the skills, knowledge and experience gap formed by the current economic environment abased on the Boomer's extended retirement. Many Companies that do not integrate the new generation into their system will experience a crisis in talent management after these two generations pass. It is therefore imperative that such companies build up their Generation Y ability so that they can both attract and maintain the brilliant organizational leadership.
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