Change is the only constant thing in life and directly applicable to company’s workforce, its talent. Companies have a blend of generations who work together to attain company’s vision and its existence. People are the biggest assets every company has and hence managing and retaining them becomes imperative.
The baby boomers are making up to the senior management position and Gen Y-ers are entering the workforce and moving up their career ladders. With the arrival of Generation Y at the workplace companies must devise strategies to attract, manage and keep them motivated.
Gen Y-ers are of a different breed. They have been raised in a different environment than that of Generation X and baby boomers. They join companies with different expectations, needs and different things motivates and drives them to the workplace.
Gen Y-ers are
- The Tech – Savvy
- The Confident
- The Ambitious
- The Optimistic
- The Thoughtful
- The Family Oriented
So what does really motivate and drives the young and the restless at the workplace?
Unlike Generation X who are workaholic and motivated by high monetarily values, Generation Y are more independent. A challenging and interesting work keeps them motivated and not financial rewards alone. They seek transparency with their managers and look up to them as their mentors and not boss. They are team players and come up with great business ideas if given responsibility to manage challenging job profiles.
Career progression is on the priority for Gen Y-ers. They just can’t be in a company that has not defined career path. They cannot work in ambiguity and expect their employers to clarify their roles & responsibilities and importance they hold in the organization. The result oriented generation values work culture that matches their expectations – result oriented, wanting responsibility and freedom to work from anywhere and anytime.
Learning & development opportunities
The tech savvy generation craves for ongoing learning opportunities. An organization that timely identifies the skills and educational opportunities for career progression of Gen Y-ers are on the top priority. This initiative makes them feel wanted and creates a lasting impression.
Work-social life balance
The young and restless doesn’t work only for money. They are social creatures who want to strike a balance between their work and social life. They cannot be up at work until late nights to impress their boss or seek visibility. They like to be independent and work from anywhere at any time. This flexibility enhances their work productivity.
Employee brand is important for Generation Y. The experience an employer brings to them is valued and monitored by at every interaction. The company who is successful in striking this image wins and retains the best set of talent.
Rewards & recognition programs work wonders to Gen Y-ers. Organizations that show how much they care and are proud to have them on board win a sweet spot of engagement with this generation.