IntegraBlog

Attract Generation Y through Non-Traditional Company Benefits

by: Joanna Gammon | Client Relationship Manager
More than 70 million Americans were born between 1977-2002 (or a narrower definition of 1978-1989), and known as Generation Y.  This Generation is not as interested in a company’s “typical” benefits package, but is more attracted by the company’s non-traditional benefits.  If you’re wondering what it takes to attract this group, focus on non-traditional benefits such as:.

Retirement Plans
Earlier generations faced financial insecurity by experiencing layoffs, the dot-com bust, and the Enron scandal. Today's newest entrants into the workforce, Gen Yers, are generally more precautious when it comes to money and savings and are enticed by 401(k) retirement plans.

A survey by Purchase, N.Y.- based Diversified Investment Advisors says that “37% of Gen Yers expect to start saving for retirement before they reach 25, with 46% of those working now indicating they already do. And 49% say retirement benefits are a very important factor in their job choices. Among those eligible, 70% of the Gen Y respondents contribute to their 401(k) plan.”

I knew what a Roth IRA was before graduating college and had an account set up within 6 months of being employed at Integra Staffing.     

Work-life balance
The baby boomers tended to put a high priority on their career, while today's youngest workers want their jobs to accommodate their family and personal lives.  We want flexibility, telecommuting options, shorter work days or 4 day weeks, and the option to work part time or leave temporarily when children come into the picture.  We want our employers to support our outside activities even if that means cutting out of the office a little early from time-to-time.  Extended lunches, the opportunity to volunteer throughout the day, tuition reimbursement for continuing education, more paid time off, etc. are other desires.  An interesting idea my company offers - After 5 years of employment, you are eligible to take a Sabbatical – 1 month of paid time off (not including our 2 weeks paid vacation).  Side note: Integra was voted the #1 Best Place to Work in Charlotte in the small business category!  All companies nominated implemented the above.          

Business Casual Dress Code
In the workplace, conflict can arise over a variety of issues, but one in particular is dress code.  Baby Boomers are accustomed to the suite and tie look as Generation Y is more comfortable in flip-flops, tattoos and capri pants.  Appropriate office attire can become outdated and needs to be reevaluated every so often.   
Instant feedback
As mentioned in a previous post, Gen Y employees look for constant feedback as they have had this type of recognition from parents, teachers, and coaches their whole life.  They will resent it or accept it, and make all appropriate changes.  No matter what, day-to-day interaction is needed (not 1 year review) or they may feel lost if communication is not regular.        

How do you Retain Gen Y at your Organization? Just Talk to Them!

by: Joanna Gammon | Client Relationship Manager
They're ambitious, they're demanding and they question everything…they’re Generation Y! As a follow up to my post, Generation Y: How to Attract and Retain the New Twenty-Something Professional, I am going to expand on the third recommendation which is "Talk to Them!"

In today’s workplace, it is common to see 50-year olds working right beside 20-year olds. Some of these freshly minted college graduates are even overseeing employees old enough to be their parents, maybe even grandparents. New entrants into the workforce are changing careers faster than college students changing majors. These frequent changes create frustration for employers, with many wondering how it’s possible to retain these young and talented high performers.

"Generation Y is much less likely to respond to the traditional command-and-control type of management still popular in much of today's workforce," says Jordan Kaplan, an associate managerial science professor at Long Island University-Brooklyn in New York. "They've grown up questioning their parents, and now they're questioning their employers.

First and foremost, as an employer, you need to take the appropriate managerial steps in order to train, lead, and develop this generation. Once you have found a comfortable leadership/communication style, you need to implement it on a daily, weekly, monthly basis – whatever works best for your corporate environment.

At Integra, we hold weekly Monday morning meetings. All employees attend, including our CEO, COO, and Accounting Manager. We go around the room and each share 1 professional story and 1 personal story from the past week. It is a great way to catch each other up not only with business matters but also outside activities. I realize that many companies are too large for the whole company to meet and therefore should break into smaller groups of approximately 15-20 people. The meeting should last no more than 30-45 minutes. In addition, on Tuesday thru Thursday we meet in small group for a quick 10 minute catch up on the most recent business affairs. I also meet one-on-one with my manager once a month for a review. During this evaluation session we talk about my activities, goal planning, new ideas, etc. Integra also has an open door policy…our CEO and COO are included in this policy!

What Gen Yer’s want is for you to tell them TODAY how they are doing; not tomorrow, and certainly not one year from now. They want you to personally train them in certain areas and help develop them so that they can be as effective as possible within the organization. They desire interaction and communication with higher level executives. If you want to retain a Generation Y employee, just talk to them!

Watch Generation Y Thrive in Collaborative Work Environments

by: Joanna Gammon | Client Relationship Manager
World get ready! The so called Generation Y, who hasn’t yet hit 30, is different than any who have come before! As a follow up to my first post, “How to Attract and Retain the New Twenty-Something Professional,” I would like to elaborate on the second recommendation which was “offering collaborative opportunities.”

Communication is key to any relationship, whether that be professional or personal. Without communication, there is no strength or bond to hold the relationship together. And in today’s world, with all the technology we have, it’s impossible to not have such a connection. Generation Y’ers own every gadget imaginable and can talk, walk, text, and listen all at once! IPods, BlackBerrys, laptops - they're almost like extra limbs!

Generation Y needs a team, not to mention cheerleaders, to do anything. We grew up playing on teams, so of course it is natural for us to seek these same collaborative opportunities within the workplace. When given team opportunities, leaders are formed and new CEO’s are found. Today’s 20-somethings crave recognition and working in a team is a great way to achieve it.

So how do employers create these collaborative opportunities? I suggest holding weekly team meetings where everyone can connect on a regular basis. Have a complex project to tackle? Try assigning it to a group and you’ll be amazed at the increased productivity; not to mention the innovative ideas that will arise from the group. In the end, answers will be found, leaders will be grown, and most importantly, the twenty somethings will thrive!

Generation Y: We're up for the challenge!

by: Joanna Gammon | Client Relationship Manager

We’re young, smart, and aggressive.  We may wear Sperry’s to the office or even listen to our iPod at our desk.  The first wave of Gen Y’ers is now embarking on their careers so our current and future employers need to be ready to CHALLENGE us! 

My first recommendation in my previous post, Generation Y: How to Attract and Retain the New Twenty-Something Professional, talks about challenging the Generation Y group.  Since multi-tasking comes natural, we hate monotony.  No one wants to watch the clock all day.  Our work needs to be interesting, show variety, and allow us to think on our toes.  When I am challenged I can make hasty decisions, be creative, and show enthusiasm.             

“Gen Y has been pampered, nurtured and programmed with a slew of activities since they were toddlers, meaning they are both high-performance and high-maintenance,” says Bruce Tulgan, who studies the lives of young people.  While growing up I juggled school, babysitting, year-round sports, violin lessons, involvement in various organizations, and volunteering my time in the community; so don’t tell me I can’t do it all!

Our generation is also use to rejection since we had to try out for everything we were involved in – from soccer to cheerleading.  Rejection has made us stronger and has challenged us harder.  Just because I’m 20-something does not mean I can’t execute complex strategies, manage people, or close a multi-million dollar deal.    

Generation Y loves reasoning, problem-solving, and researching – all common objectives to complex projects.  Gen Y craves more responsibility because we know it will lead to more respect and money!  Challenge equals triumph!!        

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.