According to a study launched by the Asian Institute of Finance (AIF), as Gen Y increasingly moves into management positions, their success will have a significant influence on the future success of national economies.
The AIF study, entitled “Gen Y in the workplace: an Asean perspective”, revealed there to be a generally high level of engagement and loyalty among Gen Y employees across the industry; satisfaction with their managers and realistic understanding of job mobility.
“Career advancement is also seen as theirmost important driver as opposed to salary,” according to the study.
AIF’s findings in Malaysia show Gen Y’s have a tendency to prioritise fast career progression. The study explored the workplace attitudes, expectations and aspirations of Gen Y finance professionals in four key Asean member countries.
More than 1,900 Gen Y professionals (aged between 20 and 34 years) and managers from financial institutions in the region took part in the survey.
Overall, the report highlights several regional similarities with global trends.
By 2030, Gen Y will make up over half of the region’s total population.
Maybank group chief human capital officer Nora Manaf said: “At Maybank, empowering and developing future generations is one of our greatest pursuits.
“Building, empowering and growing talent means that we bring value to the individual professionally and also personally, as well as to the shareholders.”
Nora said this study enables organisations to look beyond the Gen Y stereotypes, making way for progressive companies like ours to gain further confidence in how we respond to their real life expectations in the workplace.
“It’s important that we continuously provide opportunities for Gen Ys to unleash and nurture their creativity, allowing their voices to be heard as well as transforming their efforts into reality in the current digitalised environment.
“This is our mandate as a responsible organisation –to provide them with the right tools to collaborate, brainstorm and find impactful solutions.”
CEO of the Asian Institute of Finance Dr Raymond Madden added this study represents one of the most comprehensive regional surveys of its kind,exploring Gen Y attitudes of the workplace, job expectations and careerdevelopment.
“We hope it will help Asean-based businesses develop more effective talent management practices and increase their overall competitiveness,” he said.