Attracting and retaining Generation Y

They have multiple expectations of an organisation - it isn't just the job description but the workplace culture, the variety, fun, training, management style, and flexibility that drives them. When seeking a position 37.5% preferred a larger company of more than 50 staff compared with 27.3% of Baby Boomers. In another part of this study a panel of Gen Y's reviewed 5 pages of career classifieds and selected over 100 of the most appealing jobs based on the advertising.

As expected many responded to the recognised brands of larger employers. Yet size alone didn't define an employer of choice but rather perceived opportunity/challenge, as well as enjoyment/variety/lifestyle, which were often offered by small employers and sometimes even non-profit organisations.

Q. Why did you select the career advertisement chosen?

"Well known brand "
"Well recognised organisation"
"Great opportunity...promotion"
"Secure and credible to work at"
"A challenging role"

Interestingly salary alone wasn't a draw card and out of the 100+ ads selected, remuneration was only mentioned a few times by the Gen Y's. The fun, interest, variety and ease of application were all regularly mentioned.

Q. What attracted you to the job advertisement?

"Sounds really interesting""Picture of an employee enjoying himself"
"The photo caught my attention - looks fun"
"Easy to apply - just go online"
"Slick...professional...stands out"
"Sounds like a fun place to work"

Generation Y are inundated with job ads so in this competitive labour market employers need to offer a compelling Employee Value Proposition. The Gen Y's wanted a clear reason to join the organisations

Retaining Generation Y - Training leads to retaining

Dinosaurs, the Tasmanian Tiger and now long service leave - Could long service leave, the 10 year gold watch, and the 20 year club be heading for extinction?

With Generation Y it seems so. As for how long one should stay with a single employer almost half of Baby Boomers believe at least 5 years whereas only one in four Gen Y's would consider staying 5 years. The longitudinal studies back this up: in 1959 average tenure across all ages and industries was 15 years. Today average tenure is just over 4 years. Promotion. Promotion. Promotion. Generation Y has a reputation for little company loyalty and poor job commitment. Clearly Generation Y have a shorter tenure in a job but the cause isn't so much a lack of loyalty or commitment but a desire for variety, challenge, and change. They are in a hurry and they are unlikely to stick around for long without a promotion. 86% of Gen Y's expect a promotion within 2 years compared to 70% of Baby Boomers. When observing Generation Y many people mistakenly believe that their regular rotation across jobs is just a factor of their age and that "I was like that once".

Yet as cited above studies show that tenure is at the lowest levels ever across all age groups and no previous generation began their working lives moving between jobs as frequently as today's Generation Y. So if it is partly a reflection of life stage, it is also a reflection of their times - high employment, economic growth, personal optimism, and career opportunity. Empowered and Optimistic:

Despite just beginning careers and still developing their employability, 52.3% of Generation Y states that it was currently "easy" or "very easy" to get a new job compared to 43% of the Baby Boomers surveyed.

Conclusion to Generation Y and Retention of Staff

78.9% stated that career development through additional training was "very important" to them. More remarkable than this was the finding that training is more than a tool for productivity- it is a tool for retention: 89.6% of Generation Y agreed that if they received regular training from their employer it would motivate them to stay longer with the employer.

Generation Y represent the future.

Let's not expect the workplace to shift back to the days of 15 years average tenure, and dutiful obedience of the boss. These new realities which are personified by Generation Y are manifested by most workers today regardless of age. We've all responded to the 21st Century world of work.So the pendulum of change isn't about to swing back to the good 'ole days - the direction of these shifts will continue.

Indeed have a quick look at the Under 12 Generation Z's. They are born to parents who are a decade older than the Boomers were when they began families, there are half as many of them per household compared to 50 years ago, and so they are being even more scheduled, protected, and materially endowed than the Y's.

They aren't called the Bubble Wrap Kids for nothing.

The point is that we have entered a new era and while employers need not react to every whim of a new generation, nor can they hold fast to the old and expect the emerging generations to conform. These new workplace entrants have had two decades of cultural shaping and there's little an employer can do to change this.

A metaphor of this is found in any "How to Surf" book: there are many pages on how to pick a wave, catch a wave, and turn on a wave - but not even a sentence on how to create a wave or change a wave.

Quite simply because we can't - God make's the waves and surfers catch them! And so it is with the generational and cultural waves. We can't change the learning styles, work patterns, or employment attitudes of an entire generation - but we can position ourselves to understand and so better engage with each new generation.

Generation Y don't seek a job as much as they seek an opportunity.