Generation Y 2.0

So much has been written already but what is happening right now and what do we need to be thinking about when it comes to the China’s future workforce?
Although China is experiencing a slow down in exports and property sales, it remains one of the least exposed countries in the financial crisis. Many hope that this will lead to closer ties and cooperation with the western continents and ideally support the IMF in the global crisis.
While many may fear China’s growing superpower, what would happen if China was not able to sustain its markets in years to come? Amazingly, with a population of over 200 million in the Generation Y age group, way outnumbering the 7% over 65’s, and 5 million graduates entering the market each year, China is still struggling to find the right talent, especially in key positions and with few top talents in the pool, the long term future of China’s leadership is still uncertain.

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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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