Generation Y - Impact Consulting Business Psychologists Ltd

advertisement
Generational Attraction & Retention
Surina Kapur
Many organisations are becoming concerned about their ability to attract and
retain employees. By understanding what motivates your employees, your
organisation can develop a compelling value proposition to engage, reward
and retain your staff. The value proposition takes into account different
aspects of the job itself, the benefits, career opportunities and the working
environment. Any differences in generational motivations and attitudes will
influence the value proposition that employees seek.
People can be categorised into generations by their birth years. The
generations are “veterans” (1909-1945), “baby boomers” (1946 – 1960),
“generation X” (1960 – 1980), “generation Y” (1980 – 1992) and “generation
Z” (1992 +). Recent demographic and related research suggests individuals
from the veterans, baby boomers, X, Y and Z generations have particular
attitudinal and behavioural characteristics that influence what attracts them to
and keeps them motivated in a job. Being aware of this allows employers to
capitalise on this information.
Typical characteristics of the different generations
 Veterans born approximately 1909-1945 tend to be hard working,
detail-oriented, loyal, customer service-oriented.
 Baby Boomers born approximately 1946-1960 tend to be good team
players; will go the extra mile, like to maintain relationships, driven.
 Generation X born approximately 1961-1980 tend to be creative,
flexible, techno-savvy, independent.
 Generation Y born approximately 1980 - 1992 tend to be masters of
the internet independent, goal-oriented, will work to create an openminded workplace, highly motivated, questioning, innovative and
ethical.
 Generation Z born approximately 1992 + tend to be very web savvy
and tuned into social networking and blogs. 'Surgically attached' to a
mobile phone. They have a short attention span. Environmentally
aware. Astute online consumers. A transient workforce. They will
'follow the work' and live where the work is based. 'Google Bots' as
they have grown up knowing web searching as Googling.
Finding and keeping the right employees has never been more important.
Selection processes can be expensive and time consuming, so it is imperative
to get it right and make it last. With 70 million Generation Y employees
embarking on their careers and entering the workforce for the first time,
forward thinking companies would benefit from attracting people from the
younger generations, while simultaneously retaining older generations.
Values, attitude, approaches and skills of generations Y and Z differ markedly
from those of veterans, baby boomers and generation X.
Impact Consulting can draw on our background in business psychology,
corporate leadership and HR to help you:
 Understand the impact of the changing workforce on your business.
 Develop the leadership skills you need to capitalise on the new
generation’s talents.
 Attract, retain and motivate employees so they’ll take your business
where it needs to go.
Typical Work Characteristics that Motivate Different Generations
Veteran
Born approximately 1909-1945
 Feeling valued by those around them
 They like to serve other people
 4 in 10 veterans are seeking training to coach, advise and support
others
Tips on how to retain veteran employees:
 Make them feel valued
 Give them opportunities to receive coaching and support
 Use experience of veterans more effectively
 This generation have a wealth of experience - use it.
Baby Boomers
Born approximately 1946-1960
 Least inclined to desire team working
 Social responsibility an important factor in their engagement with an
organisation
 Likely to stay with current employer
 Public sector offers the best overall value proposition due to its job
security
 They seek authority to make decisions
 They want work/life balance
Tips on how to attract and retain baby boomers:
 When selecting potential employees, be aware that different types of
selection procedures can exclude certain generations. Baby Boomers
may avoid a selection procedure that included assessment centres.
 Place adverts in newspapers or relevant publications as well as online
 Allow them plenty of opportunities to meet with management
 Audit internal communications to assess whether your
communications channels & styles are sufficiently flexible to meet
preferences of all groups of employees
 In the current economic climate it is vital to maintain two way
communications. This can reduce anxiety and promote workplace
harmony.
 Re-engage baby boomers by ensuring they feel challenged and have
developed opportunities
Generation X
Born approximately 1961-1980





Thrives on feeling challenged
Seeks authority to make decisions
Flexibility and freedom required
They like to feel part of a team
Tend to be more concerned with security-based motivators i.e. secure
job, salary, status, career ladder.
Tips on how to attract and retain generation X:
 Family friendly policies would attract this generation
 Maximise opportunities to enhance coaching and mentoring across the
generational groups
 Have an inclusive policy. Set up a mentoring scheme in order to mix
older generations with younger generations.
 Make them feel part of the team
 Create challenges for them
 Allow them flexibility and freedom
 Increase their employability by offering training and other career
development opportunities
Generation Y
Born approximately 1980 - 1992






Perform better in teams
Blurs the lines between socialising and work
7 in 10 would work longer hours for more money
Most likely generation to recommend their employer
They plan to stay with employer for the next 5 years
Next generation of leaders
Tips on how to attract and retain generation Y employees:
 Place adverts online
 Offer flexible working
 Plenty of positive reinforcement
 Focus on fairness
 Focus on autonomy
 Encourage teamwork
 Include a mentoring scheme that matches employees across the
generations.
Generation Y are redefining the way organisations interact with their
employees. Employees from different generations respond differently to the
same messages. Research suggests generation Y are much more driven by
self development and growth e.g. opportunities to be mentored, doing work
that plays to their strengths.
Generation Z
Born approximately 1992 +




They use the internet for everything, especially finding a job
They will require training as they are not a generation of grafters
They have grown up around equality
Environmentally aware
Tips on attracting generation Z employees:
 Place adverts online but be aware that this could deter older
generations who do not access the net as regularly.
 Attract them through video, music and real time interaction
 Have a solid environmental and equality policy in place
 Place a strong emphasis on training
 Focus on making these employees feel valued. This younger
generation is used to receiving constant feedback from parents,
teachers and coaches while growing up and will expect the same
from their bosses.
 Bonuses such as time-off as reward, tuition reimbursement and
employee recognition are some of the ways companies are luring in
these sought after employees.
 Company slogans that promote self expression are also catching the
eye of these young forward thinking workers.
Tips on how to attract and retain across the generations:
Analyse the views & motivations of different age groups
Know what your employee’s views are and what motivates them. Notice the
similarities and differences between the generations and use them to your
advantage
Analyse career development opportunities
Unintentionally organisations can disadvantage certain generations by
appealing to certain generations and creating an out group. By analysing
career development opportunities through an employee survey this can be
prevented.
Benefits from multigenerational work teams:
 More flexibility
 Broad insight in your customer base




Talented people of all ages
Decisions are stronger
More innovative
Meet the needs of the diverse public
It is important to note that theory on generational differences does not explain
everything. Every individual is unique and while generational theory may
identify some underlying patterns, differences vary from person to person.
Download