Wednesday, December 13, 2017

'Working with Generation Y & Generation Z'- engaging this cohort for businesses, societies and nations is no more a matter of choice


Cover image for latest issue of {{Journal of Entrepreneurship and Innovation in Emerging Economies}}The younger workforce, Generation Z and Generation Y, is driven by technology, as an outcome they believe in multitasking and approaching projects in different creative vantage ideas; and likes to experiment and discover new styles and solutions to problems and difficulties as they are driven by their inner need for a sense of purpose, this approach of mavericks is what is required for new businesses. Generation Z has been attracted by the companies that embrace advanced technology and that have created new styles of working internationally, as a result this generation is making a substantial move away from the old and conventional forms of jobs, as they are very entrepreneurial and they believe in engaging in multiple jobs with various career paths. As mentioned earlier, India has roughly 65 per cent of its population below the age of 25 which makes a huge population of India as generation Z category. Sixty-nine million of them reside in urban areas. These young people have a very different childhood to the one their parents experienced. Generation Z is ambitious and competitive in nature. Today, Indian companies have realized the importance of having the intrapreneurial culture and generation Z will be the next intrapreneurs for the corporates and those companies who could channelize them well will be at a competitive advantage. Focusing on the intrapreneurial culture in India organizations; this article from the Journal of Entrepreneurship and Innovation in Emerging Economies explores the challenges faced by the Indian organization while working with generation Z intrapreneurs.

The article explicates that Indian organizations have started engaging generation Z intrapreneurs, but they face challenges while engaging them. It has been observed that leaders and managers often find generation Y and generation Z difficult to manage; one of the reasons being the difference in attitude of the younger generation as instead of traditional monetary incentives, they value passion, purpose, flexibility, transparency, collaboration, trust and autonomy. The organizations that desire to be entrepreneurial, need to learn how to engage, inspire, incentivize and motivate this younger generation intrapreneurs; as this may require organizations to re-think and make changes in the existing organizational structures.

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