Is there a generation gap when it comes to the aspirations of employees? Do ‘Generation Y’ employees prefer a more challenging job profile than a conductive work environment over a hefty pay packet and perks these days. Here’s what India Inc, had to say:
The new generation professionals want to take risk, experiment with what they like. Many yearn to join start ups or promising mid tier companies over bigger brands because of the roles. Faster growth opportunities and opportunities to handle variety of challenges provide a different Job satisfaction.
Employees these days are looking at a job which promises them the much needed stability, growth, a good learning opportunity and a decent remuneration at the end of the month.
A challenging role and supportive organizational eco-system set the ground work for the kind of performance that will lead to a larger raise or promotion in the future. Switching jobs so readily is something Gen Y can no longer expect to do as easily. They are resorting to the meaning first, money later philosophy.
In the recent years, a refreshing change has come up in the mindset of the younger workforce. The pay packets being more or less in one with industry trends in different sectors these days, the Gen Y seeks an exciting work environment and a focused career path and is ready to take on additional responsibilities.
Generation Y is defined as those born in the midst of a mature western culture between the early 1980s and the late 1990s. Unlike the generation that have gone before them, Gen Y has been pampered, nurtured and programmed with a slew of activities since they were toddlers, meaning they are both high performance and high maintenance. They also believe in tier own worth. Socio-graphically, they are at home with Myspace, YouTube, texting, IM and other instant communication technologies giving them a reputation for being peer oriented and seeking instant gratification.
Clear thinking, crisp communication and restlessness is what defines Generation Y. They know what they want and have no qualms about it. They are the ones who prefer the short route to success. They are refreshing and open to change.
Job satisfaction is likely the most studied work related attitude and is assumed to influence a variety of behaviors. Generation Y employees are idealistic with a high level of social consciousness and are not concerned only with the benefits and hefty packets but expect a lot from their company leaders an look to them as company partners in success and job satisfaction. Gen Y is also getting used and have a preference for Telepresence. What is Telepresence?
Tele presence is the next gen video conferencing technology. Marketers claim that unlike the poor quality of image provided by an ordinary videoconferencing machine, telepresence provides far superior images.
The airline and hotel industries have been hit hard by the slowdown as corporates have cut travels budgets. But their proverbial loss has spelt gain for another sector: makers of video gear: Rather than getting executives to travel on work, companies are increasingly choosing the cheaper alternative tele presence.
Companies like Polycom, Hewlett Packard (HP), Cisco. Tandberg and Tata Communications are cheering the healthy demand for their tele presence solutions as it brings down travel costs by 30%. For instance, Tata Consultancy Services, India’s largest private sector employer that has more than 1.4 lakh employees notes in its annual report of 2008-09 that the cost of overseas travel have been reduced after it increased videoconferencing. What also makes the trend attractive is that it a green side – the reduction of a company’s carbon footprint.
The segment is expected to grow at a CAGR of 23% over the next five years. It is predicted that IT, financial services and manufacturing will take to telepresence. As of now India may not be a big market for telepresence but it will soon become one. Halo is a brand of video systems offered by HP.
However the facility doesn’t come cheap. Installing a telepresence suite could cost $200,000–500,000 depending on the number of seat facilities. Return on investments (ROI) is entirely based on volume of usage. A usage of six hours a day may ensure ROI in a month. Traveling savings are just the tip of the iceberg when it comes to telepresence ROI. Today, the time saved by not traveling is more valuable than dollars saved. Polycom is the world’s largest conferencing equipment maker.
Though every company can’t afford tele- presence suites, they have the option of using public telepresence rooms. Tata telecommunication telepresence services have pioneered the public room model to address the issue of installation costs. Customers can access the public rooms by paying just Rs 6,000–7,500 per hour as parts of a special promotional offer.