Attracting, Retaining and Developing Gen Y – The twenty-somethings:

I was busy preparing for an executive presentation for some strategic plans for company where i came across an article from FORTUNE Magazine that was shared by a co-colleague on Managing Gen Y - The Twenty-Somethings.

I had made an executive summary of it and had presented it to my management team. Here, i would like to share with those that are either managing this Gen Y or aspiring to move into management levels.

Characteristics:
Ambitious, Demanding, Question everything, Unapologetic.

Demanding- They want productive tasks to do from the first day of work, and people they work for, notice and react to their performance. They have high expectations, but they have the highest expectations first and foremost of themselves. They are determined to live their best lives now.

How they look, how spoiled they are, to what they want – even demand of work, they do think they are special. What makes them different is their willingness to talk about it, without much shame & with the expectation that somebody will help figure it out.
No one joins a company hoping to do the same job forever. These days even your neighbourhood bartender aspires to own the place someday.

Good News – going to be the most high-performing workforce in the history of the world. They walk in with more information in their heads and fingertips.

Retention:
They want what their parents have given them – Love, Encouragement and Rewards.
In corporate terms – Support Network, work that challenges more than it bores, and continuous feedback. The loyalty of twenty-somethings is really based on the relationships they have with those directly above them.

Business cards are an easy way to make young employees feel valued. Letting them shadow older employees helps, as does inviting them to a management meeting now and then.

Development:
Need to build tools that not just about retention, but about having people develop skills faster, so that they can take on larger opportunities – a long term goal.

For Short term goal – we need to harness Gen Y energy.
Because something that comes out of their mouth is going to actually outside the box, something that none of us have ever thought about. Give them opportunities. Maximise Resources, Unleash their Potential. They thrive when given Real Responsibility. We need to tap and use 100% of their innovation, enthusiasm, energy, and fresh perspective.
Twenty-something wants to know that they’re on a career path. But it’s not just a question of where they’re going, they want to know how you’re going to help them get there.

Adapted from: FORTUNE May 28 2007 Issue, Pg 38-47