See what Generation (B) Y (M) has to offer

Magda Wierzycka, the CEO of Sygnia Asset Management, writes on Moneyweb’s blog about Generation Y and their characteristics.  Generation Y are those born between 1982 and 1995 of Generation X and Baby Boomer parents.

She describes this generation as growing up amidst ‘unprecedented prosperity’ with access to ‘better, more rounded education’. Furthermore they are: ‘extreme[ly] technology savvy’, ‘very family orientated’, ‘demanding and outspoken employees’ with an ‘overdeveloped sense of entitlement’, they ’struggle to deal with failure or criticism’ and ‘flounder if left unmanaged or unsupervised’.

I’ll agree with the technology savvy.

The rest of the description might ring true for young people in the USA or some other homogenous, developed country, but it sounds a little off-tone for the vast majority of young South Africans.

One only needs to look at the tragic outcomes of our school system that fails the majority of its learners and the extremely high levels of unemployment among young people to see that this generation is not some privileged class.

It is also important to remember that the South African Generation Y has been growing up in times of major transition: a political transition with profound social impacts, accelerating urbanisation (lagging the rest of the world) and widening and deepening globalisation.

In my opinion, all these transitions present exciting opportunities, but they most definitely also bring new challenges. The SA Gen Y is the group that has to build a unified, non-racial society bridging the prejudices and mistrust of previous generations. They also have to develop and maintain their own cultures and customs while being integrated with and relevant in the global society. And while globalisation affords this generation with more opportunities, they need to more competitive and more adaptable as a consequence of international competition.

Don’t get me wrong – not for a moment do I wish to exchange the challenges faced by South African young people with those faced by their parents. But, we need to acknowledge that the environment and challenges are different and that this generation will inevitably do things in a different way. And they’ll have to, because much of what they inherit in terms of the economy, environment and global stability is not looking pretty.

So the real important question is: Will Generation Y, specifically in South Africa, falter or will they besides ‘gallingly emerging as a more powerful force in the workplace’, Wierzycka’s words, rise up to be a powerful force for good?

My bet is placed.

Over the last nine years Brightest Young Minds have identified, developed and channelled the ideas and passion of young people into making a positive contribution in our society. Every year we have been impressed not only with the remarkable talent but with the inspiring optimism and commitment of these young people. At every summit the majority of conversations are about how to make the biggest positive impact on the community. And it doesn’t stay with talking. These young people have gone on start businesses, create universities and schools, initiate social upliftment programmes, invent new products and services and ploughed their talents and energy into all manner of businesses and organisations.

The next BYM summit will take place in July 2009 and we know it will once again be an inspiring showcase of what Generation Y has to offer. If you are part of Generation Y, I encourage you to apply for the Summit and if you are or an older generation, I invite you to come and engage with these young people.

The experience will not be galling, but enlightening.