Generation Y is different from any generation that has come before. Advances in technology have changed society so much that dealing with Gen Y’ers who grew up with the Internet can be a challenge– or an adventure.
For this reason, it’s interesting to look at how Gen Y operates in the workplace. A recent Chicago Tribune article said that Millennials are predicted to make up about 75% of the world’s workforce by 2025, according to a study by the Business and Professional Women’s Foundation.
Forbes asked Deb DeHaas, vice chairman and central manager at Deloitte in Chicago and Anushree Fomra, vice president of finance and operations at Brill Street and Co. for their advice on dealing with Gen Y employees. Brill Street and Co. has ranked Chicago’s 50 most Gen Y-friendly workplaces since 2009. Here are the top things these managers recognized as important to Gen Y employees.
Flexibility. Gen Y is always looking for a challenge, so they will switch positions more often than past generations. To keep them around, companies can offer Gen Y employees flexibility in the form of paid time off for research or working from home. Gen Y works well with deadlines and loves to show off what they’ve done, but they like to do things their own way. Give them a little room and you might be happily surprised by the outcome.
Equal participation. Gen Y employees like to be heard. Fomra said that big companies have trouble retaining Gen Y employees because the Gen Y’ers get frustrated with hierarchy. They want access to high up managers AND they want to move up in the ranks quickly. In order to retain Gen Y employees, employers need to give employees the opportunity to speak up. Gen Y employees have a lot to offer. They have the familiarity with technology that really differentiates them from Gen X. Use them as a resource! Some companies are developing mentorship programs to give younger workers a chance to be heard and older workers a chance to learn new things.
Volunteerism. This generation cares a lot about their communities. Give them a chance to take a paid day off doing community service or let them get involved in corporate social responsibility initiatives. For Gen Y job seekers, choosing a company to work for has come to include not just the position and benefits, but company culture. If the job seeker doesn’t like the company’s image or community involvement, they might keep looking.
Is there anything else you think Gen Y employees are looking for?
