Millennials (Generation Y)
Who is Generation Y?
Meet the Millennials
The Millennial generation (Gen Y) has been called Generation WHY, Baby Busters, Echo Boom, Generation Next, and Nexters. It doesn’t matter what you call them. This group of teens and twenty-somethings is 76 million strong and just now flooding the workforce. Millennials are young, confident, and sociable.
Millennials are tech savvy in ways that make Xers and Boomers look like fossils. Millennials love the latest techie gadgets–4G phones, GPS mapping, hands-free everything, voice recognition, portable media players, underwater music players, e-books, high definition camcorders–and on and on.
Millennials are loyal. They have faith in institutions. They are optimistic. They are cautious. Millennials have combined these traits into an identity uniquely their own. Think Millennials, and the key word is “realistic.”
How to Attract and Retain Millennials
The challenge of meeting the needs of this diverse generation cannot be oversimplified. Meeting these needs calls for flexible and perceptive leaders with equally flexible people policies. Millennials understand the importance of balancing hobbies, sports, and volunteer activities with work, so offering the ability to telecommute, for example, is one great way to attract top Millennial talent. (For additional ideas, check out Sherri’s book, Ties to Tattoos: Turning Generational Differences into a Competitive Advantage.)
Where Traditionalists seek lifetime careers, Boomers stellar careers, and Xers portable careers, Millennials strive for parallel careers. Futurist predict that Millennials will experience as many as ten career changes in their lifetimes. However, it’s likely that Millennials will reject the Xers’ distrust of organizations and instead may envision a lifetime career with one company if they can attach themselves to organizations that offer the right combination of challenge, opportunity and security. The key is to keep them challenged, engaged, and feeling like their career is sustaining good forward momentum. Sherri’s HR consulting company GenInsYght specializes in innovative ways to recruit, train, motivate, and engage this dynamic young generation.
Utilizing Millennials in Your Organization
Millennials are capable of learning several jobs simultaneously and performing them equally well. In a tight labor market, relying on Millennials to cover more than one position is a smart strategy. They thrive on multi-tasking, and putting this ability to use is more cost-effective than hiring additional employees. Additionally, cross-training is a strategy that will appeal to Millennials and help reduce turnover.
More about Millennials
For more information about how to recruit, retain, and motivate Millennials, check out Sherri’s book, Ties to Tattoos. Or, feel free to contact Sherri at firstname.lastname@example.org or 214-802-2345.