How to Get “Generation Y” to Deliever Optimally- Fahm
In its quest to unveil the growing influence of youths in today’s world of marketing, F.B Initiatives and Innovations Ltd (FBI) recently held its Youth
Marketing Converge (YMC2.2) . YMCC 2.2 is one in the series of youth centric seminars designed for top executives across an extensive gamut of industries, whose responsibility is driving overall strategy for product and service performance.
Speaking on the theme of the event in her opening remarks, Funke Babatola, CEO, FB Initiatives & Innovations disclosed that the theme: ‘How to Tap into and Harness Youth Energy as a key Driver of Business and the Economy’ is targeted at those companies and organisations who want to standardize their brands and stream line it to appeal and to be relevant to youth population
In his presentation, Kayode Fahm, a finance expert and investment guru, explains that ‘Generation Y’ has become a critical success factor in businesses and organizations. Therefore, it is time businesses capture the expectations of the younger generation, and encourage collaboration between generations
In Mr. Fahm analysis, generation Y is an incredibly sophisticated, technology-wise generation, immune to most traditional marketing and sales pitches. “They are not only grown up with modern day techniques, they have seen it all and they have been exposed to it all since early childhood”, he said.
According to him, over 60 million people in Nigeria belong to Generation Y, over 50% of the people in Corporate Nigeria belong to Generation Y, and over 70% of the people in most Operations & Technology divisions belong to Generation Y.
What are the expectations of Generation Y in a typical work environment? He answers “They want to be valued and engaged; appreciate open communication and feedback; value diversity and globalization and they expect flexible, informal, decentralized work environments.
Others include: they like ‘HAPPY’ team atmospheres; measured on results, not time spent on the job; follow leaders based on credibility, not necessarily afraid of losing their job; like to learn by hands-on opportunities; openly talk about career paths and options and above all, they desire the workplace to be fun.
For any organization of brand to get the best out of the youth population, the brand owners must appreciate and understand the above nuances, characteristics and expectations from this critical segment of the market and population.
The discussion sessions moderated by Mr. Leslie George produced a robust interactive session featuring participants from the banks, FMCGs, NGO, Media and SMEs. While agreeing on the importance of the “Generation Y” to business success, all further conclude that the earlier “Generation X” should collaborate with “Generation Y” through authenticity irrespective of the job title. This is seen as a major weapon to get them key into the system and to serve as a great tool in bridging the gap for successful businesses. However, the gathering lamented the dearth of mentors for the “Generation Y”.