I can still remember my first proper day of work. Fresh out of business school, I entered the office of an asset finance company with a head full of strategy and plenty of grand ideas. I was looking for the managing director's office, when I was promptly brought down to earth and shown the fax machine and tea-making facilities. As introductions to work go, it didn't auger well.
So I kept my head down, learned how to use that new-fangled fax machine and ended up enjoying a fruitful year having fun and learning a great deal about the world of work. In the intervening decades, graduates have become more demanding. The much-fabled generation Y knows what it wants and expects to get what it demands. By insisting on a healthy balance between work and home life, this generation has forced employers into changes such as more flexible working patterns. And we have all benefited as a result.
But this recession has knocked some of the wind from generation Y's sails and the confidence that came from having only ever known a boom evaporated faster than you could say Lehman Brothers. In this issue we look at some of the changes that the recession has brought to the workplace. As Amy Duff discovers, generation Y employees are having to learn to keep their heads down, do what they're asked to do and try to make the best of the opportunities available. But, as Jane Simms points out, it's equally important that employers don't get too carried away with the idea that they can ignore the needs of younger staff. This so-called "lost generation" is suffering from a triple let-down: first, they are burdened with huge personal debts from university; now they're discovering that this education may not deliver the quality of job or income they expected; and finally, they face the prospect of paying higher taxes to pay for the excessive public spending of irresponsible grown-ups.
Keeping these future workers sweet—and that includes offering meaningful training and work experience—is essential to our future success. There are signs the economy is starting to pick up. Important indicators aren't as grim as they have been. While it's too early to call time on this recession, it's not too early to start thinking about the young workers who will make or break your business in the years to come.
Richard Cree
Click here to read previous comments