With belts being tightened across departments as the credit crunch deepens, jobs are under threat in many areas of the business. Many employees are under scrutiny as their contributions towards business growth and performance are analysed.
But one section drawing the most controversy, is ‘Generation Y’ whom many believe should be the first to feel the recruitment pinch.
This new generation is the future workforce, and ignoring its needs will lead to longer term problems within business. In sacrificing the ‘Generation Y’ during credit crunch times, you lose the intellectual property and ability vested in them: they may not leave behind huge reports and legacies of new and improved practice as that is held in their head; nor may they leave behind contacts as those are held on Facebook, their i-Phone or Linked In. But what they may leave is a hole in the organisation’s strategy to compete over the next generation.
There is a new Lingua Franca – but what is widely accepted is that the business that succeeds is the one quickly able to learn the language of the day, whether its English, Mandarin or Generation Y tech-speak.
