Generation Y: How to Attract and Retain the New Twenty-Something Professional

by: Joanna Gammon |Client Relationship Manager
As a member of the much talked about “Generation Y” workforce, I would like to share my views on what it takes for companies to attract and retain this new brood of employees. According to ChannelWeb Network, “By 2014 there will be nearly 63 million Generation Y employees in the workforce, while the number of baby boomers in the workplace will dip from 59 million today to fewer than 48 million.” Companies need to start paying attention to this noteworthy group of twenty-something’s that are rapidly invading the workplace.

So what do we want from our careers? We want the corner office and the six-figure salary. But we don’t necessarily want to work 80 hours a week to achieve it…we want time for ourselves, our friends, and our families. Unlike our parents who’s #1 priority was their career; we require a more even balance between work and life. So how can an employer deal with such unprecedented demands? Try starting here:

1. Challenge Them:
Generation Y grew up surrounded by a constant stream of external stimuli; from Nintendo to 200 channels of Dish TV, multi-tasking has been a way of life. We expect the same from our careers. Challenge Gen Y workers with complex projects, varied assignments, and a high degree of responsibility. They won’t disappoint you.

2. Offer Collaborative Opportunities:
Through internet chat rooms, instant messaging, and MySpace, Generation Y is more connected to their peers than any previous generation. Gen Y’ers know how to collaborate and thrive on team work. Create opportunities for them to tackle complex projects in a group and you’ll be amazed at how they can harness the individual talents to deliver outstanding results.

3. Talk to them:
Annual performance reviews won’t cut it for Generation Y. They want to know what they should be doing and how well they are doing it now – not next year. Provide them with timely feedback and you’ll see instant results.

4. Emphasize Non-Traditional Benefits:
Gen Y’ers aren’t as interested in traditional health and vision benefits, but more so on benefits that help them achieve a better work life balance. Employers who offer flex hours, on site day care, and ability to work from home will hold the competitive advantage.

5. Promote Them:
If your company has any hope of retaining Gen Y’ers for the long term, you’ll need to provide a diverse career path for them to grow within your organization. Otherwise, as soon as we’ve learned all we can, we’ll move on.

Comments

[Natalie]

That was very well said. I couldn't agree with you more. People of all ages are going to have to realize that the latest and greatest technologies are out there and the sky is the limit. Things are definately not traditional anymore right down to families......so why would we expect work to be any different. I'm early 30's, so I'm at the Gen X Gap, Our Motto: We Want It My Way, Right Away, Now!!! We definately need a healthy balance of having a life and working to function in society.

[Joy]

Great job Joanna! Awesome point of view and a tremendously insightful perspective. You know the benefits part was right up my alley!

[Danielle]

I have to agree when it comes to these comments on Gen Y. We are very diverse and like feedback and trying or achieving new tasks. Keeping our mind on various things instead of the "same ol' same ol' thing" would interest us enough to want to stay within one company. Once we feel we have learned something and know a good base about it, we are ready to try something new. I am glad this article was written, hopefully companies can agree with this and understand our personalities before we get into the 'same ol' thing and want to move on to something new.

[Takisha Briggs]

I enjoyed reading this article. I am also a 20 something generation "Y"er and agree with everything mentioned. Companies need to realize how valueable we are and keep in mind that the baby boomers are moving into retirement age.