Yahoo Finance has a great article on the differences between Generation Y and the Baby Boomers. Here are some excerpts:
They won't do work that's meaningless.
These kids grew up with parents scheduling every minute of their day. They were told TV is bad and reading is good, and are more educated than any generation in history. They just spent 18 years learning to be productive with their time, so they're not going to settle for any photocopying/coffee stirring job.
They won't play the face-time game.
We've known forever that it isn't necessary to be in the office from 9 to 5 every day to get work done. But many of us have missed family events only to sit at a desk all day getting pretty much nothing done because of the stress of missing a family event. And there didn't used to be any option -- if you wanted a successful career, you made sure co-workers saw that you were putting in the hours.
Generation Y wants to be judged by the work they do, not the hours they put in. And what could be more fair than this? In fact, a good portion of the workforce has been requesting flextime for decades, but the requests have gone unheeded.
We have Gen Y to thank for forcing the switch, because if Gen Yers can't leave the building whenever they want, they'll walk out the door and never come back. Face the truth: Boomers weren't willing to go that far, but they sure are benefiting from it. Now they have more opportunities for flextime, too.
They're team players and don't do rank.
If you've climbed a corporate ladder your whole career, then it's probably inconceivable to you that Gen Y doesn't care about your title. But it's true -- they don't do rank. Chances are they saw their parents get laid off in the '80s, so they know how ephemeral that special rung you stand on is and they don't want to waste time trying to get there.
Generation Y played on soccer teams where everyone participated and everyone was a winner, and they conducted playground politics like diplomats because their parents taught them that there's no hierarchy and bullies are to be taken down by everyone. And Gen Yers take these values to work -- they expect to be a part of a team. Gen Y believes that no matter how much experience an individual has, everyone plays and everyone wins.
They have no patience for jerks.
Generation Y changes jobs every two years, typically because the work isn't a good fit, or the learning curve isn't steep enough, or they don't like their co-workers. And Gen Yers will disengage from a jerk before trying to get along with him or her, according to a report by Stan Smith, national director of Next Generation Initiatives at consulting firm Deloitte. They have no desire to bother with somebody they don't like.
This is really how we all should function. After all, according to research by Stanford professor Bob Sutton, the cost of putting up with a jerk in a company is about $160,000. Moreover, Harvard researcher Tiziana Casciaro found that people hate working with high-performing jerks so much that they would rather work with someone incompetent who's nice.
It's actually easy to appease Gen Y. Give us a supportive environment to work in, and treat us as colleagues. If you're loyal, we'll be loyal back.
Now, I wonder how much it costs to put up with a jerk in an academic setting?