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Understanding the 20-Something Workforce
January 30, 2007
From the Management Advisor Newsletter
By Stacy Straczynski
Today's workforce is increasingly diverse as employees from three generations work and function together in business. But while this combination of talent creates a symbiotic work environment, the increasing entry of Generation Y employees, those in their early to mid 20s, has many a Baby Boomer manager confused. Many of these Gen-Yers have an entirely different mindset on what’s acceptable for a career path and not only want instant gratification, but, thanks to the Internet, want it on their own terms. And that creates a challenge for managers who find that the typical successful management strategies that worked in the past just don't work. They're right: Those strategies need to evolve or talent retention and employee loyalty will stay on a downward trend.
But there is hope for these challenged managers. Jason Ryan Dorsey, author of My Reality Check Bounced: The Twenty-Something's Guide to Cashing in on Your Real World Dreams, says the key to bridging the career mindset gap is compromise. Here are some of Dorsey's tips for managers for reaching that compromise and helping 20-something employees increase performance and loyalty.
1. Make their first day unforgettable.
Twenty-somethings thrive on instant gratification. "They're used to taking a lot of data in at one time and making a choice," Dorsey says. While this is a great asset in business, it unfortunately means a company has little time to make an positive impression. "A lot of twenty-somethings decide on the very first day whether they will stay," Dorsey says. But managers can easily combat this mentality. "It doesn't cost anything—it just means a little effort." On a new hire's first day, take some time to introduce yourself and personally give the introductory tour rather than designating another direct report. Show him that his new position has meaning enough to merit some of your time. Also be sure to stress to him why his position is important to the company as a whole.
2. Don't rely on a competitive salary to keep talent.
"It's a big realization, but money does not always build loyalty," Dorsey says. Twenty-somethings' parents, often Baby Boomers themselves, wanted their children to have an easier life than they had. As a result, twenty-somethings often don't feel the same pressure to achieve personal and financial independence as their parents did. Says Dorsey: "To them it is acceptable to be under-employed—or even unemployed—so long as it is on their terms." But they do need to be invested in something. So, instead of trying to retain 20-something talent with money, give them an emotional bond, Dorsey says. "They will stay if they believe in the mission of the company."
3. Adjust to their high expectations.
Many twenty-somethings have extremely high career expectations, and Dorsey says "many believe that if they got good grades in college, they can be an executive in as little as two years." This misconception results in many Gen-Yers' discouragement, and they soon feel trapped in the limiting 9-to-5 mindset. Rather than allowing twenty-something employees to struggle on their own, Dorsey says managers need to let them know that climbing the ranks takes hard work and continually performing above and beyond. "Publicly post opportunities to take on extra projects," Dorsey recommends. It will reinforce that nothing is given without merit and the and that asking for the additional responsibilities is key to progressing within the company.
4. Create stimulating rewards
Since twenty-somethings seek meaning in everything they do, simply handing out gift cards periodically for doing a good job isn't very inspiring. This goes back to the idea of being emotionally invested, so make your rewards something special. "For example," suggests Dorsey, "every Friday have a department meeting and give a $10 gift card to each employee who reaches all three of their metrics for the week. It's not the amount but the fact that you are acknowledging their performance in front of their co-workers." They will be determined not let their colleagues down or be left out of the gain.
Sales & Marketing Management Magazine
This article is brought to you by Sales & Marketing Management, the leading authority for executives in the sales and marketing field.
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