Over the past six months we have been keeping a close eye on Gen Y’s attitudes to the recession. Here is an article that I wrote summarising our findings.

As you might expect, Gen Y’s values are not changing, but, in some cases, their behaviour is. Some of them are saying that, before the credit crunch, they may well have left their jobs before finding another one. now they are staying put. They are still expecting and hoping that their employers will continue to help them learn and develop though. Those that don’t may well find that they will lose some of their good people when the economy starts to pick up.

J Walter Thompson, the ad agency, have recently done some research into anxiety levels amongst young people. It is worth a read. Whilst 46% of the UK respondents agreed with the statement ” My generation is being dealt an unfair blow because of this recession” some of them believe that the recession actually provides them with an opportunity:

27% agreed with the statement: ‘My friends are doing interesting and entrepreneurial things to make money’

27% agreed with the statement: ‘If I lose/have trouble finding a job I’ll just start my own business’

44% agreed with the statement: ‘The current situation with housing prices actually makes me feel optimistic about buying a home’

The research also asked teenagers what they would be prepared to give up. They would rather give up shopping for clothes, eating out and entertainment than be disconnected from their online technologies. 90% said they would be bothered about giving up the internet and 81% said they would be bothered about giving up their mobile phone.

Advertisers and their clients are staying closely tuned to how people are feeling and what they want as customers and consumers. Halifax bank’s recent TV ad campaign is clearly an attempt to communicate that they care about their customers and want to help.

I think it’s always worth employers watching what the ad industry are saying and how they advising their clients – it’s in their interest to really keep tabs on changing attitudes and help their clients to respond. Employers are employing consumers so insight from the advertising world is worth having I would say.

Sally

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