As most traditional business owners have noticed, catering to the needs of Generation Y is a whole different ball game. This youthful workforce, born anywhere from 1980 to 2000, is expected to change jobs a minimum of seven times in their lifetime. This is in sharp contrast to their grandparents, who commonly devoted their entire career to one company. Managers are coming up with new, "outside of the box" ways to attract young talent and to keep those sought after employees from jumping ship.
Generation Yers, who currently make up 21% of the workforce, are wanted for their cleverness in creativity, multi-tasking and their savvy technical skills. However, this audacious group has a tendency to question authority and have a different set of priorities all together. For many, raising a family and enjoying life takes presidency over fast tracking their careers.
Daphne Atkinson, a vice president of industry relations, supports this theory. When asked what Gen Y's largest contribution to the business world is, she replied "I would say probably their skill in integrating technology seamlessly and their optimism. They also are quite serious about reforming the work environment for more flexibility and reasonable hours to accommodate their personal goals and interests. Unlike baby boomers who talked about work-life balance but weren’t wholehearted about achieving it, these young people will insist on it."
What Are Companies Doing?
In the service industry, companies are stepping up to the plate in finding new ways to motivate and satisfy their workforce. Traditionally, managers would reward employees with pay increases, bonuses, and promotions. While those perks are obviously still used and appreciated, there are more innovative and intrinsic rewards emerging which complement their young employee’s lifestyles. These practices cater to an inner satisfaction unmatched by any promotion or bonus, resulting in a higher level of motivation for the employee and an overall more productive business
Tons of companies are jumping on the bandwagon. The law firm of Perkins Coie has created a "Happiness Committee" whose duties include leaving candied apples on worker’s desks and delivering milkshakes from the local diner. One firm offers a concierge services that will gladly track down Mets tickets or pick out your Halloween costume. Others offer classical piano lessons, insurance for your pets and on-site psychotherapy counseling. A number of companies now have childcare in their facilities, some even provide a personal nanny service to your home. The idea is that increasing happiness outside the office will encourage success inside the office. This concept is extremely important to this generation because it is a top priority.
How Can Small Businesses Compete?
It’s not just the major companies with endless budgets who can attract these workers, smaller companies can hold their own in the fight according to author Chris Resto. In his book, "Recruit or Die: How Any Business Can Beat the Big Guys in the War for Young Talent," Chris explores some valuable tactics which small companies can benefit from. First, recognize that the recruit is hesitant to be pigeonholed- they want to leave the options of shifting careers or returning to graduate school open. Managers can combat this problem by presenting potential recruits with the career path your company can offer and explaining how it can prepare them for their future. Secondly, Chris emphasizes that you should make the candidate feel special. In a smaller company, he or she will have more access to the owner and senior employees, gaining from their expertise and mentoring. It’s also important to note that in a small business, each employee has to pull their own weight and make important contributions to the overall goal of the company. This can be very appealing to young candidates who cringe at the thought of an "Office Space" environment and are passionate about doing something meaningful with their lives and careers.
Once hired, companies need to continue to appeal to the Generation Yer's unique business perspectives. For example, these employees are excellent multi-taskers and adapt quickly to new challenges in the workplace. They also respond well to tight deadlines and complex, but understandable tasks. Lastly, flexibility is key component in a happy, motivated generation Y employee. Managers should allow them a say in their schedule, benefits, and tasks- even if they simply ask for their input. Allowing an employee to make small schedule changes, like longer workday, but shorter workweek, will empower the young recruit and actually make them work harder the hours they are present.
Does This Actually Work?
As an active Generation Y participant, I can vouch that many of these tactics are alluring to our age group. Luckily at {e}, we have the option of a flexible schedule. You can escort your sick child to the doctor, meet your visiting in-laws for coffee, or, in my case, take the day off for exams. We just have to work a little harder that week to make sure the job gets done. Also, I am fortunate to work for a young company, as I get constant feedback from the owners and the more experienced designers here. Although our generation’s workplace expectations may differ from the baby boomer’s principles, in the end, the positive work ethic is still there. We want the most out of our jobs to get the most out of life.
With a little help and encouragement, business owners can easily cater to the youthful generation entering the workforce. Their approach may be uncharacteristic of a traditional employee, but capturing their drive for success and creative input is well worth the effort.
