Working With Generation Y and Z

How to Prepare Yourself For The New Generation of Employees

The next generations of employees are coming soon to an office near you. As many as 70 million Generation Y employees are embarking on their careers and entering the workforce for the first time. Generation Z is right on their heels. Generation Y, generally classified as anyone born between 1980 and the year 2000, and Generation Z, anyone born in 2001 or later, possess a different work style than generations before them. They have different goals, different ideas and require a different managerial strategy in order to retain them. They may sound like trouble, but given the right working environment you can harness the best of these generations and let them lead your business into the future.

Not The Same Old Work Ethic
Generations of the past saw eager employees burning many a candle at both ends in order to rise through the ranks. By comparison, the up and coming work force place less priority on their career and are instead searching for flexibility that allows balance between work, family and personal time.

The option to telecommute, even part-time, is also attractive to this new workforce. Their motto: Work to live, not live to work. Other perks such as the ability to go part-time after having children or take an extended maternity leave will also be attractive benefits to younger generations. Companies that want to retain employees from these generations will need to be willing to accommodate these outside interests.

A New Way Of Thinking
Generation X was thought to be the first wave of employees who pushed the envelope and sought changes to the old way of doing business. Taking a cue from their parents, Generation Y will be outspoken, bold thinkers with a sense of self-worth not seen in any generation before. Conventional managerial styles may not be effective with this generation. These workers grew up questioning their parent’s decisions and have no problems putting themselves on equal ground with co-workers three times their age. Managers expecting these workers to blindly follow orders will find themselves butting heads with these young employees that were empowered with a sense of entitlement from a very young age.

While they may lack the manners and social skills of those before them, especially in respect to how they treat older employees, Generation Y employees are fluent in today’s technologies, possess great business acumen and have a firmer grasp of money matters than those before them. To draw out these talents, businesses today may have to restructure the career ladder and allow for more of a “team sports” environment where these younger players can feel they are being given a chance on the field from the start.

For the ultimate in “plugged in” employees, look to Generation Z. These workers have grown up with technology as a part of their everyday lives. Multi-tasking is like breathing to this crowd, and Gen Z makes for very productive workers if you can keep them stimulated. Long projects focused on single tasks are foreign to this generation and boredom in the workplace may cost you employees looking for a challenge.

Loyalty: A Thing Of The Past
Where generations of the past prided themselves on lengthy careers with one company, don’t expect Generations Y and Z to have the same mentality.  It is reported that 40 to 50 percent of Generation Y has seen a parent or family member work their entire lives for a company only to be laid off when business turned sour. With ever increasing acquisitions, mergers and globalization, even more Generation Z workers may come to distrust corporations as a whole. These new generations are expected to change jobs and even careers often as they seek out self-fulfillment in the workplace.

To retain these employees companies will have to 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. The standard once a year performance evaluation won’t cut if for these generations who will be looking for more regular input from their supervisors in an effort to advance their careers.

Recruiting The Next Generations
One of the biggest challenges facing companies today may be getting these generations of workers in the door. Many larger corporations have taken to holding recruiting seminars at choice colleges that produce workers with the skills their company needs. But, it won’t be enough to simply show up. Companies of today and tomorrow will have to offer up appealing incentives to reel in these workers.

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 forward thinking workers. These generations don’t want to be faceless drones so make it clear that there will be a silver lining and you’ll be more likely to draw in these praise seeking employees.

With the changing business and social climate these new employees will expect just as much out of the company they work for as they do from themselves. Businesses of the future will have to focus on more than the bottom line if they want to retain Generation Y and Z workers. In the wake of the global movie phenomenon “An Inconvenient Truth,” Generation Z is expected to be the most environmentally aware generation to enter the workforce. Companies that focus solely on profit, without regard for their effects on the planet, likely won’t make the grade for these green workers.

While Generations Y and Z will prove a challenge to manage in the workplace it’s important to focus on what they have to offer any business. As businesses evolve to reflect the needs of the people and their consumers, it will be these employees who are plugged in to the social climate around us. Yes, changes to the status quo will be necessary but with the right work environment these brilliant minds will flourish and take your business with them.

Sources:
http://www.usatoday.com/money/workplace/2005-11-06-gen-y_x.htm
http://www.insight-mag.com/insight/07/07/feat-2-pt-1-Gone.asp
http://www.urbandictionary.com/define.php?term=generation+z
http://www.marketingvox.com/archives/2003/10/15/generation_z_the_connected_multitasker/