The Millennials and the arrival of the Next Generation
By Howard Coleman -- Industrial Distribution, 1/10/2008 8:50:00 AM
A recent segment on CBS’s 60 Minutes entitled “The Millennials are coming” captured a true concern that every company will face and that many are already struggling with—the arrival in the workforce of the next generation.Who are these young workers and why are they so different? They are the new generation of the workforce, ages 18 to approximately 30, also called Generation Y or the Digital Generation.
Many of us have heard about their characteristics. Reportedly, 50 percent still live in their parents’ home and plan to stay there until their careers have a solid foundation. They’ve grown-up believing they’re “special” and place at least as much emphasis on their friendships and leisure time as they do their employer.
Are they better, worse, or just different? Many people have their own opinion. Either way, they are entering the workforce, quickly replacing the Baby Boomers, and therefore are the future of your company.
Suggestions for acquiring and managing Generation Y workers run the gamut. As usual, they simply underscore what you may already know about good recruitment, management and the motivation of workers.
Sure, newly minted college graduates and others in the Gen-Y say they want certain things from their employer: structured and obvious career paths, relevant training and flexible work hours.
Nonetheless, it seems that the reported lack of ingratiation of today’s young job seekers is what seems to be most off-putting about this group. Isn’t it possible that the confident attitude exuded by the stereotypical Gen-Yer is simply a reflection of the positive job market for young applicants, which is mostly due to a steady decline in the U.S. birth rate since the late 70’s?
The void left by the Baby Boomers as they retire will be too large for the Millennials to fill, creating a talent shortage that leads to an open market for job seekers. Either way, we always caution against using media-driven stereotypes as a basis for employee development and hiring systems.
How can you make these Millennials fit your company? The quick answer—you can’t. The question is how can your company invite them in and keep them there? Most companies will need to possess specific recruiting, development and retention techniques that meet the demands of these young people. Companies seeking the superior performers of tomorrow will have to act quickly, using effective recruitment and selection techniques.
Once on board, this new generation will require a different kind of management, one that is encouraging, motivating, gentle and personalized. They want a coach who not only guides their efforts, but provides a role model as they reach for career goals. They are focused on their achievements and growth, and won’t settle for being under appreciated, nor will they tolerate stagnant positions.
This generation knows they have options and are in search of their goal of a “dream job.” They will change jobs many times, if need be, until they find that job.
Understand the individual
So employers are scrambling to figure them out. What do they like and dislike? What are their goals? What motivates them? When you try to answer these questions, generalization isn’t effective. Each person is unique, but isn’t that true to a large extent for all of us, regardless of generation? It is the specific understanding of what makes them individuals that will make or break your talent management.
For many, this workforce may be hard to communicate with and understand. The differences between them, the Baby Boomers and everyone in between, can create struggles for many employers and co-workers.
This situation solidifies the increasing need for effective communication in order to ensure positive relationships that will benefit your company. It often takes time to really get to know an employee and discover their true character, yet you may not have much time before the Millennials walk down the street to their next job.
So with this new kind of individual, it’s necessary to uncover the behaviors and motivators that make them unique. Employers would also do well to understand and appreciate their own behaviors and motivators as a way to increase effective communication with this “new breed.”
When considering and/or hiring Millennials, I suggest you refer to some of the excellent pre-hire and post-hire performance development assessment tools that are available. These measure job suitability, attitudes and motivators—all of which are critical success factors in determining whether there is a fit in your corporate culture and what adjustments you as an employer need to make to attract the Millennials.
It’s a fact—the Boomers are going. Those companies that are agile enough to make the transition in their hiring and talent retention programs will make a significant investment in their long-term success. Don't take chances with the next generation. Are your talent identification processes ready? Do you have what it takes to hire and retain superior performers?
Howard Coleman is the principal of MCA Associates www.mcaassociates.com, a management consulting firm based in Derby, Conn. He can be contacted at (203)732-0603.
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