Six steps for making the most of young talent and working with under-30s were revealed last week, in a bid to beat the fresh produce talent crunch.
The strategy - Managing Generation ‘Why’ - is based on the ideas of Mark Murphy, founder and chief executive of Leadership IQ.
Murphy splits the workforce into four age groups including Generation Y, under the ago of 30, Generation X, between 30 and 40, the baby boomers, up to the mid-60s and traditionalists, who are 65-plus.
He has identified key differences between Generation Y and the workforce that has gone before it. Under-30s tend to have high self-esteems and respond well to positive feedback rather than a ‘sink or swim’ attitude. They tend to have technological authority over the older generations and are used to multi-tasking. And they have translated the immediacy that they have become accustomed to in everyday life to their career path, and refuse to wait for a promotion.
The six pointers for dealing with Generation Y indicate that it is essential to set out clear standards and give positive reinforcement when these are met, while problems should be dealt with constructive criticism, without blame.
Under-30s should be given work that has meaning and at least 20 per cent of their time should be given to interesting work.
Employers should encourage socialising and the formation of bonds between colleagues, as well as make an effort to overcome professional barriers.
Murphy said: “What this boils down to is recognising that the world is changing from a talent perspective, and every 10 to 15 years or so the dynamic get changed for us and we tend to learn something about management…
“This is the first time we have had four generations in the same workforce, but they do not operate in the same way.
“The organisations that succeed recognise that is very difficult to retain fantastic people and do something about it becomes an issue.
“If Generation Y feels like it is not succeeding, they will quit after 12 months. If they feel they are doing well, you will be able to keep them for three to five years or more.”
