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Managing & Retaining Generation Y

In order to prepare for the new workforce, understanding what makes them tick and tuning in to what is important to them will keep them longer and more satisfied. Generally speaking, Gen Yers are between the ages of 18-28, they were heavily marketed to, and are more influenced by their peers. Many experienced family breakdown with the rise of divorce, are out-spoken, and have a self-worth not seen in any previous generation. Some Gen Xers view Gen Y workers as the Entitlement Generation. Gen Xers (and Boomers) need to understand who our workforce pipeline is. Gen Y and X share some similarities, although there are enough differences to note with this workforce.

HR experts say Gen Y should watch and learn from Gen X in order to become a stronger and more respected talent pool. The biggest difference between the two groups is that Gen Yers are team players almost to a fault, where Xers are more self-sufficient, efficient, and independent.

What should you know about Gen Yers?

- They love networking, group work, and are good at relationships.
- They love technology and expect to use it more to complete their job.
- They want flexible work schedules that allow a balance between work, family, and personal time.
- They want the “cool” factor and fun in their employment.
- They will change jobs for better compensation, benefits, advancement, and a sense of purpose.
- They are well-educated, well-traveled, and ethnically diverse.
- They expect a response from the employer, even if it’s to thank them for their application.

Re-think the strategies used to recruit boomers and Generation X. Classified newspaper job ads may have reeled in Gen Xers, but won’t work on this group. They don’t catch Gen Y’s attention, and even Internet-based job boards will have limited success with that group. Remember, they talk and blog their experiences and will share with their peers how a potential employer treated them. Try reaching them through their social networking channels, such as Facebook and MySpace. Build recruiting relationships by finding common ground. Once they are recruited, make them feel a part of the organization even before they come on board. Did you know that Yahoo! sends their new hires a purple box tied with a bow that once opens sings out the company “ya-hooooo!”?

In order to improve retention and productivity of Generation Yers, keep in mind the following:

-Employment branding is important in recruiting and retaining this group of workers.
-Offer a career-path. Show how one thing leads to another and provide a sense of what they may earn along the way; show the map to promotions.
-Position yourself as an employer-of-choice. Show corporate social responsibility – be GREEN(er)!
-Make the candidate experience smooth with an easy application, assessment and on-boarding process.
-Talk to them, not at them—did you know that nearly 97% own a computer, 94% own a cell phone, 76% use instant messaging (IM) and 15% of IM users are logged on 24/7.
-Build relationships.
-Provide feedback.

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