This assignment examines the target group of Generation Y – a new and already much discussed age group, which begins to shape the labor market with their specific values, expectations and attitudes. Hereby the focus will be on the style of leadership that this generation needs in order to answer the question how companies have to adapt to maintain or become attractive for the young generation in the war for talents.
In order to answer this question, the mentioned generation will be defined and then characterized in order to create a common understanding of the wording. The third chapter will afterwards outline several leadership theories and their main characteristics and ideas.
The second part of the third chapter will then focus on the various needs and preferences of Generation Y and their impact on the corporate world:
1. Which traits make a leader a good leader?
2. Which leadership style matches their preferences best?
3. How should a leader adapt the working environment?
After addressing and answering those questions, a recapitulation will be done and further research suggestions will be given.
Table of Contents
1. Introduction
1.1 Problem Definition and Objective
1.2 Structure
2. Generation Y
2.1 Definition of Generation Y
2.2 Characteristics, values and performance
3. Generation-Specific Leadership
3.1 Leadership Theory
3.2 A new Definition of Business Leadership
3.2.1 The ideal leader traits according to Generation Y
3.2.2 The ideal style of leadership for Generation Y
3.2.3 Adapting working conditions for Generation Y
4. Conclusion and Outlook
Objectives and Topics
The primary objective of this study is to examine the specific needs, values, and expectations of Generation Y within the labor market and to determine how leadership styles must be adapted to successfully recruit and retain this target group during the ongoing "War for Talents."
- Analysis of demographic changes and their impact on the labor market.
- Characterization of Generation Y regarding values, attitudes toward work, and leadership preferences.
- Evaluation of traditional leadership theories in the context of modern workforce demands.
- Identification of preferred leader traits and transformational leadership dimensions for Generation Y.
- Recommendations for adapting corporate working conditions to improve employer attractiveness.
Excerpt from the Book
3.2.1 The ideal leader traits according to Generation Y
In order to answer this first question, whether the entry of the Generation Y into the workforce will change the notion of the ideal leader, several research studies have been carried out. The following figures display the findings of two of those studies, which tried to identify the most important main personal traits of a leader, according to GenY.
The annual carried-out millennial survey by Deloitte shows that especially the strategic orientation as well as the inspirational charisma are being highly appreciated. Moreover, the ideal leader should stand out by his or her firm personal skills and vision. The need for strong personal skills can also be seen in the wish for the decisiveness of the leader. He or she should show passion and enthusiasm for their work, and be able to pass this to the employees. On the other hand, it becomes very clear which kind of leader discourages this generation: It is the domineering boss, who cares mainly about the financial results instead of the employees’ needs, and tries to impose his or her will on others in an insistent or arrogant manner.
This characterization can be supplemented by the findings of another, smaller and therefore only indicative survey, which are shown in the following figure.
Summary of Chapters
1. Introduction: This chapter introduces the "War for Talents" phenomenon driven by demographic shifts and outlines the study's goal to investigate leadership styles suitable for Generation Y.
2. Generation Y: This section defines the Generation Y cohort and provides a comparative overview of their characteristics, values, and motivations versus previous generations like Baby Boomers and Generation X.
3. Generation-Specific Leadership: This chapter reviews traditional leadership theories, identifies the transformational style as most relevant for Generation Y, and discusses specific leader traits and working conditions preferred by this generation.
4. Conclusion and Outlook: The final chapter summarizes that while transformational leadership is highly preferred by Generation Y, further empirical research is recommended to provide comprehensive insights for companies.
Keywords
Generation Y, Leadership, War for Talents, Transformational Leadership, Transactional Leadership, Employee Retention, Millennials, Workforce Demographics, Work-Life Balance, Employer Branding, Leadership Traits, Management Styles, Organizational Culture, Human Resource Management, Personal Development.
Frequently Asked Questions
What is the primary focus of this work?
The work examines how companies can adapt their leadership styles to effectively recruit and retain employees from the Generation Y cohort amidst demographic changes.
What are the central thematic fields discussed?
Key themes include demographic shifts, the characteristics and values of Generation Y, various leadership theories, and practical adaptations of working conditions.
What is the core research question?
The study seeks to answer how leadership styles need to be adapted to make companies attractive to the young generation during the "War for Talents."
Which scientific methodology is applied?
The research is based on a literature review and the analysis of existing empirical studies and survey data concerning leadership preferences and generational differences.
What is covered in the main body of the paper?
The main part defines Generation Y, outlines classical and modern leadership theories, analyzes specific leader traits desired by Gen Y, and proposes concrete measures for improving the corporate working environment.
Which keywords characterize this paper?
Central terms include Generation Y, leadership, transformational leadership, talent retention, employer branding, and workforce demographics.
Why is the "Idealized Influence" dimension significant for Generation Y?
It represents the demand for charismatic leaders who act as strong role models, embodying the high moral and ethical values that Generation Y respects.
How does Generation Y perceive traditional "authoritarian" leadership?
The research indicates that authoritarian leadership is largely rejected by Generation Y, as it contradicts their preference for flat hierarchies and collaborative work environments.
What role do "work-life balance" and "flexibility" play?
These factors are crucial for Generation Y; they seek environments where professional and personal lives are integrated, leading to recommendations like telework and flexible working arrangements.
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- B.A. Dominic Birk (Autor:in), 2016, Leading Generation Y. An analysis of the generation and its preferred style of leadership, München, GRIN Verlag, https://www.grin.com/document/323363
