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Mrinal Krant

MPM, 2003, SIBM, Pune

Email: krantmrinal@rediffmail.com

Blog: Krantmrinal.blogspot.in

LinkedIn: http://in.linkedin.com/pub/mrinal-krant/3/a01/a69/

Working and Learning with Gen Y

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Who is Mrinal

Mrinal is a senior Human Resources professional and specializes in Talent Coding, Optimization and Development. Has done series of leadership development programs. He has been doing young CEO coaching for past 4 years. Worked with US MNCs and Global Consulting firms in India and in the US. Has been hiring from IITs, top NITs and ISB in India, besides University of Pennsylvania, Le High, Duke, etc, for Consulting and Analytics (Business Intelligence) companies.

Mrinal brings specialist insights into "Total Rewards System", Organization Design & development, Review/Feedback/Feedforward/Speedback mechanisms, Succession planning, HR Analytics &Dashboards and also top talent search. Mrinal is a graduate from Delhi University and an MBA in Human Resources from Symbiosis Institute of Business Management (SIBM), Pune. Mrinal is an MBTI Certified Coach. He worked for, APC India, R&D Centre (Now APC-MGE, under Schneider Electric), ZS Associates and InfoCepts Technologies.

Mrinal has served Border Security Force (BSF) Central Police Organization as Assistant Commandant.

Went to JNU for Masters in Ancient History. Was rank-1 in All India Entrance exam.

He is a Blogging enthusiast and active participant on Linked In and Quora forums.

http://krantmrinal.blogspot.in/

http://www.quora.com/Mrinall-Krant

Agenda

Who is Gen Y? The new rules for the Gen Y Key Notes from McQueen’s desk Gen Y- beliefs, traits and values? Do we shape them or they are shaping us? What kind of work-place are they shaping? What Gen Ys have to tell? How to manage them, learn from them and leverage

their beliefs and strengths?

Q&A

30 mins

15 mins

4

History and future of generations

1945 1960 1965 1980 1995 2000 2010 2025

Baby BoomersBaby Boomers Generation YGeneration Y Generation ZGeneration Z Generation AlphaGeneration AlphaGeneration XGeneration X

Divided into ‘Hippies’

and‘Yuppies’, they

were raisedby the ‘Builders’

Also known as ‘Latchkey

Kids’, they were raised by

the early baby boomers

Likely to be‘Google Kids’

Also known as the ‘

MillennialGeneration’, they

were raisedby the late baby

boomers

Also known as ‘Digital

Natives’, they are beingraised by

Generation X

Ref : Grail Research, 2010

Shift in demography5

 

83

11

55

39

40

23

207

75

11

53

37

41

24

222

60

27

2

16

12

9

5

38

92

35

3

18

14

13

7

54

Region Country Working age (15-60 years) Retiree (60+ years)

North America

Europe

Asia

20082020

Significant shift

SOURCE: McKinsey

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Workforce composition 2010:2020

Generation 2010 2020

Overall population 1220 Mio 1326 Mio

Boomers 38% <15%

Gen X 32% <25%

Gen Y 25% 45-50%

Gen Z Na 10%

Who is Gen Y

“Generation Y ”—born between 1980 and 1989 Most of India’s high-potential employees (64%) and middle

managers (55%) are Gen Y

"To some, they are the tech-savvy, well educated and ambitious youngsters poised to take on and change the world. Others, however, describe a disloyal, disrespectful and demanding generation who have never learned to wait or really work hard for anything. Born between the early 1980's and the late 1990's, Generation Y has certainly caused a stir in recent years.Michael McQueen, is a Sydney-based speaker, social researcher and business owner, founder of the Nexgen Group. Consulted , coached 90 K people on last 5 years.

Key notes form McQueen’s desk

• Fast paced, Revealing, Redefining, re-shaping tomorrow’s leadershipDe-coding

Generation Y • Strategies for managers and leaders : the

benefits of attracting, motivating and retaining Gen Y employees

Managing Gen Y Master-class

• How and why the generational diversity in a team can lead to misunderstandings and conflict. 

Understanding the Generations

@ Work • Strategies for developing targeted, age-specific

messages.Marketing to the Generations

• To assist young managers avoid conflict and miscommunication when managing older workers.

Managing the Mature-aged Workforce

Gen Y: beliefs, traits and values

BELIEFS

• Can take career decisions for themselves

• Know how to Do the right thing

• Know how to Get it right

• They have right to be Treated right

TRAITS

• Politically Aware

• Involved• Tech Savvy• Highly

Educated• Innovators

VALUES

• Work-life balance

• Flexibility• Open

communication

• Clear feedback and feed-forward

• Innovation/work around

• Sense of worth and sense of growth

The new rules for the Gen Y

Some HR specialists have produced guidelines for managing the Under 24’s in the workplace-

It seems increasingly clear that Generation Y wants the workplace to be fun,relaxed, and non traditional

Allow some flexibility in day-to-day scheduling.Focus on work outcomes, but be personable and have a sense of humour.Provide ongoing training and learning opportunities Offer increasing responsibility as a reward for achievements as they happen;Wherever possible, provide challenging work that really matters;Treat them as colleagues, not as beginners or kids;Use innovative ideas for creating a more comfortable, low-key, low-stress workplace

Do we shape them or they are shaping us?

It is important that managers do not get hung up on behind your desk means work!!

The differentiator-Shaper, Gen Y.

Beyond the “DESK”

Behind the change

Reversing the gen X trend

The key factor called “Life”

What Gen Ys have to tell

Hold Only Productive Meetings

Shorten the Work Day

Bring Back the

Administrative

Assistants

Redefine Retirement

Find Real Mentors

Continue to Value What Our Parents

Have to Offer

Restore Respect to

the HR Department

Promote Based on Emotional

Intelligence

Re-invent the

Performance Review

Enjoy Higher

Starting Salaries

You can engage them if you know them

• Engage with common interest and outside work space linksConnect

• Environment and climate of Gen Y productivity-Focus on outcome, less on process. They want flexibility

Create

• Communicate openly and honestly with Gen Y.  They look for ‘real’ people

Communicate

Understand Adapt Leverage

Mantra for Managers

You can engage them if you know them. Contd.

• Admit Mistakes-Be upfront about making mistakesTransparency

• performance and career planning ,

• provision of individual recognition

Focus on Development

• The group is both ambitious and impatient Challenging

• Constant feedback-appraisal 360X365 Feed backing

• Partner in their growth planningFeed-forward

Mantra for Managers

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Confidentiality and IPR

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