Generations X, Y, & Z

What Generation Y Wants at Work and Why You Should Care

What do Ys want at work?

For several years Johnson Controls has been sponsoring a survey of younger generations to answer this very question.  Their most recent research shows that 18-25 year olds view the office as an extension of their home life.

The following concepts ranked the highest on Gen Y’s list of workplace wants:

• Sustainability -- 96% of respondents want an environmentally-aware workplace;
• Mobility -- 76% prefer to be mobile rather than static workers;
• Flexibility -- 56% x percent want to choose when to work;
• Collaboration - 41% prefer access to team space over conventional meeting rooms.

Other key findings include:

• Opportunity -- Generation Y prioritizes which job to apply for based on opportunities to learn, work colleagues, corporate culture and values; and
  
  
• City Life -- Generation Y prefers workplaces in urbanized locations with access to social and commercial facilities, good public infrastructure and the ability to use public transport, walk or drive to work.

This is great information, but there isn't anything new or surprising here.

Numerous surveys have been done on this topic and they all come to the same conclusion: For Generation Y, work is not about going to a place to do a job. Work is about doing something that makes a difference in a way that is meaningful and worthwhile both personally and professionally.

Generation Y has redefined the concept of work. And organizations like Johnson Controls continue to research this demographic and provide valuable insight to what Ys want partly to satisfy curiosity, but mostly because no one seems to be paying attention!

 

How many workplaces do you know of that satisfy the list of Gen Ys wants and excel at providing a workplace that is environmentally-friendly, mobile, flexible, collaborative, and learning-focused?

 

For the past several years, awareness has been growing, but most organizations aren’t focusing on the next generation of talent either because they don’t feel the situation is urgent enough or because they are too lazy or too afraid to make any changes.

 

Results from surveys like this one remind employers that 20-somethings are making demands on employers and employers will have to respond to these changes to stay competitive and engage young talent.

 

In other words, for the first time ever the power is shifting from seasoned executives to young professionals—and that’s a reality that some executives simply refuse to accept.

 

Hence the on-going surveys and reports. Some are hoping for different results or at least a simpler solution.

But the Johnson Controls’ report reminds its audience of why understanding and responding to Generation Y is so important: 

· Aging/Shrinking Workforce - We are on the brink of the largest turnover in human capital in history. As millions of Baby Boomers retire, there are millions fewer young people to replace them and talent will become a commodity; and 

· Demographic Differences -- Generation Y is a technology savvy generation; the report calls them "furious digital innovators".  Unlike the generations that have come before them, Ys have grown up with 3D gaming technology, the internet, and social networking.  Their innovation and technology skills are crucial to keep our economies going.

 

So perhaps it’s time to pay attention to what the research is saying.

Generation Y wants a working environment they emotionally engage with; a space where they socialize with co-workers and which supports their health and well being.

This isn’t the end of the world, folks. It’s just a new approach to work—one that will probably be welcomed by workers of all ages.

 

Bottom line: Your company can’t afford to lose two-thirds of its workforce in the next five years. If you want to attract the up and coming workforce, you’re going to have to make some changes. And sooner is better than later.

A Talent Management Nightmare: 42 Percent of Employees Don't Trust the Boss

I read with great interest a recent blog posted by Talent Management magazine. While the blog's headline mentions 42 percent of employees don't feel their employers are looking out for their best interests (as evidenced by a fall 2009 TalentScope study of some 50,000), the article goes on to quickly dismiss this data  (in the first paragraph!) suggesting it is likely 50 to 60 percent or more.

Why the skepticism? Because during the past few years of recession, employers have had to be somewhat ruthless in cutting back their colleagues while offering few if any increases in compensation. This neglect is certain to have taken its toll.

To make matters worse, there's been a logjam of lost opportunities for people who would normally leave their jobs if they were unhappy because there are no opportunities for them to leave to.

This does not bode well for some companies' talent pools when the economy turns around, unless they act now. Especially among those Generation X and Y professionals, who have a lower tolerance for distrust and uunhappiness at work.

Many in talent management and HR roles are fearing the inevitable rebound of the economy, which is likely to spur high turnover rates, a loss of valuable human capital, and create a volatile, unstable workforce. 

Some employers and executives are still in denial, though. I have spoken with some of these individuals, who believe the bad economy is a great remedy and will actually result in the creation of 'I'm-so-grateful-just-to-have-a-job' mentalities and tremendously happy employees who will settle in and stop job-hopping.

This notion that the workforce will revert back to a time when employees worked 40 years at the same company is still outdated--and could have very damaging effects on the future of our nation's workforce and talent development efforts.

It's time to recognize what's really going on in the workforce and to be realistic about the future.

It is likely that more than half or your company's employees are unhappy and have lost faith and trust in your company's leadership. What to do about it? Here are a few tips:

Step one: Identify who the high-potential key employees are and cater to their needs. Otherwise, once the economy starts turning around talent managers can expect a pronounced session of recruiting musical chairs to take place, and the people moving likely will be high performers.

Step two: Consider the offer. Are your pay levels competitive? Are you investing in the training of your employees? Giving them advancement opportunities? Providing the perks and benefits they want and need? Employees--especially Generation X and Y employees--want to feel appreciated and a sense of belonging. Ask their opinions, get to know their career aspirations, and help them achieve their goals. To prevent an exodus of talent your organization has to be serious about keeping employees engaged and be responsive to their needs. If the grass is greener elsewhere, your talent will be sure to go.

Step three: Be open. Employees want to know where the organization is heading, what strategy is being used, what the implications are of that strategy, and any shifts therein for them personally. Don't pay 'lip service' to what's happening, result to the 'no news is good news' philosophy, or only communicate with senior-level staff. The more open and honest your company is, the more trust, loyalty, credibility, and happiness it stands to gain.

The Office of the Future: A Gen Y's vision and executive predictions

Josh Ingalls, a certified Gen Y recruiting pro (Campus Relations Consultant) for Principal Financial Group recently posted a Fistful of Talent article about the workforce of the past and what's likely to come into vogue in the future.

Josh wrote about walking in on a conversation among Boomers who were reminiscing about the dawn of their careers almost 25 years ago, including:

• Ashtrays at every desk.  It didn’t matter if you smoked; you had to have an ashtray at your desk, in case a smoker stopped by because they were not to drop ashes on the floor.
• One computer (called a terminal) on a “Lazy Susan” in the middle of 5 desks.  When you needed it you just twisted it to face you and shared it with your teammates.

Josh's post reminded me of AMC's Emmy and Golden Globe-winning series, Mad Men. Mad Men is set in the 1960s at a fictional advertising agency on Madison Avenue in New York City and depicts the changing social mores of that era. 

When you see the workplace clouded in smoke and its employees drinking on the job, with the 'skirts' working as secretaries and only Caucasian men in executive roles, you are reminded how dramatically different the world of work is today.

Josh's article goes on to predict what stories Gen Ys will be telling in 25 years. After all, advancements in technology are speeding up, not slowing down. It is very likely there will be even more drastic change in a Gen Y's lifetime than that of past generations.

Josh made the following predictions of the future at work:

· Video conferencing will dominate the interview scene. The next generation of recruiters will find it hard to believe we actually made hiring decisions based on a phone call. Video conference technology will be much less expensive and utilized by all recruiters. 

· College Career Fairs will not exist. Due to more efficient selection the utility of career fairs will fall to a point where they are no longer attended by employers. 

· Assessment use will be much more prolific. With advancement comes a drive to quantify decision making, and assessments are a great way to do this for hiring.  Employment law will eventually catch up to the fact that good assessments are much less biased than hiring managers.

· Your LinkedIn profile will have a section to upload your genetic report card. This will allow recruiters to consider your potential health care costs.

A research study released by OfficeTeam titled, Office of the Future: 2020, predicts the future office will be increasingly mobile, with technology enabling employees to perform their jobs from virtually anywhere. As a result, employees will likely be working more hours.

In addition to interviews with workplace and technology experts, futurists, and trend watchers, OfficeTeam surveyed workers and executives at the nation’s 1,000 largest companies. Among the predictions for 2020:

· Technology tools will provide even greater flexibility. Miniature wireless devices, WiFi, WiMax and mobile technology will continue to allow a company’s staff to work outside of the office with greater ease. Additionally, virtual environments and web-based conferencing services will provide off-site employees with real-time access to meetings, reducing the need to travel.

· Improved wireless connectivity will allow for an increasingly flexible workforce. Eighty-seven percent of executives surveyed believe telecommuting will increase in the next 10 to 15 years.

· Staff to put in more time. Forty-two percent of executives surveyed by OfficeTeam think employees will be working more hours in 10 to 15 years. Only 9 percent said they would be working fewer hours.

· Companies/employees take a new view on work-life balance. People may put in more time, but they will do so using tools that provide more control over their schedules and enable them to better balance priorities. There will be an increasingly blurred line between work and other activities--including vacation time.

If I were to predict the future, I would predict that tomorrow’s workforce will be less hierarchical and defined by roles and more about giving people ample opportunities to learn and lead and move into various roles based on their interests and strengths. I also believe our workplaces will become even more health-focused with walking workstations and environmentally-friendly practices.

With a pending Boomer retirement wave and massive influx of Generation Y – the largest generation in history– all statistics point to a workplace that will be dominated by people under the age of 40, which will redefine the workplace and work itself. It’s going to be an amazing transformation to observe, no matter what happens.

What do you think the future will bring? Please share your thoughts and ideas with our readers.