Expert urges Mid-East human resource professionals to listen to 'Generation Y'

Speaking during 'Guru Day' at the Middle East HR Summit, which is being held at the Jumeirah Beach Hotel in Dubai until Thursday 30 October, Professor Gratton explained that in Europe and the US 'baby boomers' those born in the mid to late 1950s are now beginning to approach retirement.

Professor Gratton went on to clarify that this has led to an aging population and with it the problems of funding pensions which is being compounded by a declining birth rate. By relaxing immigration rules it is hoped that overseas workers will be able to contribute towards the shortfall, however the western economies will now have to add a looming recession into that equation.

Michelle Boyd, Executive Conference Director, commented:

"In sharp contrast, the demographics prevalent throughout the Middle East are changing at a rapid pace and 50% of the population is still under 16 years of age. In the Gulf countries, expatriate workers dominate the job market, but it is 'Generation Y' that now holds the key to the future of business."

"Ranging from teens to mid 20s, this section of the population is well educated and media savvy and highly competent with technology," said Boyd.

Indeed terms such as 'twittering' and other almost incomprehensible SMS languages allied with Facebook are the ways in which this demographic communicates, added Boyd.

Professor Gratton said, "Fundamentally, it is their ease with technology that should make them so attractive to HR professionals they are a generation like no other, the first to embrace IT from infancy."

"Businesses can only grow in three different ways. Either through cost-cutting, mergers and acquisitions and finally through innovation that's where 'Generation Y' can be of great use. Technology will be key to the future of business, it will value-add with all of the benefits of cost, speed and flexibility and fully engage those embarking on their career paths," added Professor Gratton.

"However, it can be a double-edged sword, 'Generation Y' does need managing closely, they can drift into their own sense of community, which won't necessarily include their employer," warned Professor Gratton.

The Middle East HR Summit resumed yesterday (Monday 27 October) tackling other key industry issues such as market intelligence, employee relations and situational leadership. The Middle East HR Summit Excellence Awards will be held on Thursday evening.

Industry bodies providing sponsorship for this year's Middle East HR Summit include FranklinCovey Middle East as diamond sponsor and the Hay Group as platinum sponsor. Premium recruitment sponsors are MonsterGulf.com. Gold sponsors are Leadership Training and Consultancy, Forum, and Zurich International Life.

Silver sponsors are Recruitgulf.com, Ascent, Stanton Chase International, Naukri.com, Jerry Varghese, Careertunity.com and Focus Learning. Precision Employment Services are also a sponsor. The awards are sponsored by the Society for Human Resource Management, Hay Group and SHL Group.