Generation Y 2.0

While large companies are beginning to take into account changes in behaviour in their HR practices and marketing, a recent survey suggests that small businesses are not yet ready to adapt their marketing strategies to meet the expectations of younger generations.

The survey by the Economist Intelligence Unit (EIU) and the software developer Genesys, asked executives around the world * how they attract and retain young consumers.

It turns out that many companies are still debating the benefits of investing in this age group rather than the baby boomers. 42% of respondents believe it is better to “invest in Y” against 39% preferring to concentrate on other generations while the number of people of generation Y will soon surpass the number of baby boomers and will continue to gain influence.
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Y’er Bret Bernhoft from Portland, US, posted an interesting blog article recently, reflecting on the emerging number of generational consultants. Here we look at some of the extracts and take a perspective:

“Inside the world of Generational Consulting there is plenty of room for everyone to stretch out and really take their fair share of the pie. There are literally no restrictions, at this point, on the influence a Gen Y consultant can have on their clients and those who they advise.”

“There is a distinct difference between advice and insight when either giving or receiving consultation… the practical application of either type of information is simple, one is simply a collection of facts without perspective while the other is simply a collection of facts with an understanding of how to apply them. Today it is too easy for a Generational Consultant to provide advice and for it to be taken as either providence or truly valuable.”

“One of the primary rules for reaching Generation Y is to access Generation Y at their level, at our level.  Without direct experience of being a Generation Yer, a consultant cannot provide the insight, only the facts, this is damaging and ultimately misleading to a client… unless the consultant is a Gen Yer they cannot effectively and honestly consult on Gen Y.”

Bret has some interesting and perhaps understandable points here. Where have we heard before ‘you can’t understand our generation unless you are one of us’… the sixties, the seventies…another time perhaps?

However for some years now we have been trying to say that the ‘Y culture’ is not only something aligned to those of a certain age group, it is also a behaviour, a mind set or a culture. Of course it is shared by a large number of people in a particular age group, but not only by any means.       

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