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Small Business Charm for Gen Y

Posted: 12/15/2012
There is so much talk about Small Businesses these days. Be it in the context of tax hikes or the downturn sweeping out businesses like falling dominoes, we've seen it all unfold in the past couple of years.

Who's the most affected section in such a scenario? Along with the established players in the game, the question should plague the youth definitely. What is sown today will be reaped by the Gen Y tomorrow after all.

The techno savvy Gen Y, born in a capitalist world order, thrives on quick profits and fat pay packages. Well, there's nothing wrong with having a few ambitious expectations. You work well, you get paid well. Most of us believe in this crude supposition. Here's something new.

While corporate culture of the MNC's is still the order of the day, its no longer viewed in shades of grey.

If the recent research by Payscale.com and Millennial Branding is to be believed the Gen Y "prefer meaningful work over big salaries...drawn to start-ups that offer more opportunities to meet challenges, make big decisions and work on own terms." In fact 47% of them are employed in Small businesses rather than big companies with a larger workforce. Interesting eh!

Well as they say its two way road. If the youth are accruing certain benefits, even the Small Businesses have a lot to look forward to. The important question is "HOW" to spread around some charm to attract talented youth so that your business is in a win-win situation at the end of the day.

Here's what we believe...

1. EQUALITY

Ho! Ho! we aren't giving a revolutionary call. So just relax and read on.

Gone are the days when the employers and employees never looked eye-to-eye. Stiff-necked bosses who nagged the labouring workers and whipped some caustic words always seems a plot right out of some retro flick now. What works today is a casual culture, where the workspace is common to all,
hence the interest taken is correspondingly equal. Understandably the stakes are high when the youth is given free reign, but remember bosses, talent has no age. A bond of trust is what comes out of giving the Gen Y some space to manoeuvre the way they want to.

2. SOCIAL MEDIA POLICY

We often hear about offices filtering the content that the employees view. Keeping tabs on employee action is a fairly natural thing, but an excessively constricted policy, especially when it comes to using social media sites during the work hours is absolutely a horrible act. If workers enjoy the office culture as much as their leisure time, the commitment ratio will see a upward swing. The simple reason being "Gen Y worker who lives life online, access to social media channels" is not a luxury but a right.


3. FLEXIBILITY

This catch-phrase is not only applicable to the bosses but their young employees. Gen Y work on their own timetables. Imagine this. At 9 a.m when most old styled corporates would have wrapped up a dozen meetings and scheduled a few more, the young worker would have been barely out of bed or shared a nice coffee pic on Facebook. This generation is no doubt workaholic but what's new is the time-lines they follow. While the Gen Y go by a fast paced work ethic, they prefer a relaxed environment.This is where Small Businesses and start-ups can capitalize. By providing that extra latitude to the employee, productivity can be boosted to compete better in the market.


4. ENCOURAGEMENT

Gen Y is literally a Trophy Generation. Just like a kindergarten kid loves when the shiny star on his worksheet, so do the youth. Rewards, not necessarily in terms of money and perks, but an honest recognition of their work, is a gesture that goes miles to encourage the youth to perform better and learn more.

Related to the first point about equality, Small Businesses tend to promote more equality in the sense that they employ a smaller workforce, where everyone knows everyone and face to face interaction is easy. The chain of command is small; the boss and the "his team" are in constant touch. This automatically fosters a sense of ownership in the business among all.


On a more personal note, well that's how we work at E-junkie.info. If you share our views about the topic do leave us your comments below.

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2 Responses to 'Small Business Charm for Gen Y'

  1. Shiful Alam Said,
    http://www.e-junkie.info/2012/12/small-business-charm-for-gen-y.html?showComment=1355647016336#c3772640122474865129'> December 16, 2012 at 1:36 AM

    Great article, really. I would like to mention another point; 'Authority'. Gen Y want more authority in the decisions related to their jurisdictions.

    Thanks,
    Shiful Alam

     

  2. Ejunkieblog Said,
    http://www.e-junkie.info/2012/12/small-business-charm-for-gen-y.html?showComment=1355729170834#c5753264582058476782'> December 17, 2012 at 12:26 AM

    Glad that you mentioned this point. Well said! We certainly appreciate more autonomy in the decision making process!

     

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