Foreword by Kiran Mazumdar Shaw

We are living in the most exciting and best of times ever in terms of the potential we have to change the world with the help of technology. We are witnessing the birth of technologies that will fundamentally alter the way we live, work, and relate to one another. The scale, scope, and complexity of the transformation is unlikely to be like anything humankind has experienced before.

The first three Industrial Revolutions have seen the displacement and disruption of businesses by locomotives, electricity and computers. Now a Fourth Industrial Revolution is underway wherein technologies are converging to blur the lines between the physical, digital, and biological spheres.

Compared with previous industrial revolutions, the Fourth is evolving at an exponential rather than a linear pace. Moreover, it is disrupting almost every industry in every country.

At the same time, we are witnessing the entry of a vast number of millennials into the workforce. Millennials also known as the Generation Y, born between 1980 and 2000, are expected to account for roughly 75% of the global workforce by 2025.

To thrive and not only survive in this brave new world, corporates need to attract, train and retain the best of these millennial workers. For this, employers will have to understand millennials' career aspirations, their attitudes about work, and the factors that provide them job satisfaction.

Interestingly, several recent surveys have found that most young workers around the world viewed “commitment to making the world a better place” among the top attributes they are looking for in prospective employers. One survey by Deloitte has shown that millennials are likely to commit to their organization if they share its sense of purpose.

As the influence of the millennial generation grows in the workforce, human resources professionals would need to respond to the change in employee composition and its potential in determining the future of the organization.

Job security, professional development and pay are not the main motivating factors for Gen Y. Rather, they are likely to find fulfilment in the purposeful pursuit of their passions. Organizations that are able to successfully channel this creative passion into crafting products and services that “make a difference” will be the ones that come out on top.

The publication of Dr. Debashish Sengupta’s Life of Y – Engaging Millennials as Employees and Consumers is timely as the book not only provides valuable insights into the way Gen Y thinks but also disproves some of the perceptual myths and stereotypes associated with it.

This book is a must-read for organizations that are looking to positively engage with the millennial generation. It boldly attempts to define the rules of engagement for a generation that will reshape our future.

Kiran Mazumdar Shaw