The youngest group of employees in the workplace today is comprised of those born after 1981 and generally considered to be from before 2005s. This group is known as Generation Y or Millennials and they make up 27.7 percent of the total workforce according to the United States Census Bureau inn the stuck “2010 Census Briefs – Age and Sex Composition”. The American Society of Training and Development reported that during the next 20 years, 76 million workers will retire while only 46 million workers will enter the workforce to replace them. Most of these 46 million workers will be Millennial generation workers. Just as the three older generations in today’s workforce, Gen Y workers have unique desires and needs that they expect from their manager and the business for which they work.
Generation Y employees will be crucial to business enterprises. They will certainly change the way business is conducted in many ways. But, in currently and in the immediate future these employees offer great challenges to management to ensure these workers integrate with the existing workforce with as little conflict as possible.
Among the positive traits brought to the workforce, one of the major benefits that Millennials bring t the workplace is their high degree of technological skills. These employees were practically born with a computer in front of them and are intrigues by each and every development in the work of Information Technology. Millennials grew up with digital global communication capability at their fingertips. They view information of all kinds to be immediate and available on demand. They understand using virtual teams to solve problems and are extremely team oriented..
They view the business work as a global workplace, viewing the entire world as potential sources of information, clients, and community. Millennials seek fast-track career positions, frequent positive feedback, the latest technology and challenging training opportunities. Their outspokenness brings them to challenge long outdated work policies and conventions, offering businesses to perform a check on the hypocrisies and short comings of today’s workplace. Ultimately, Gen Yers may well drive change for the better.
Much has been said and published about the negative points of Millennials. They tend to have a sense of entitlement and are outspoken. This group of workers does not take constructive criticism well and require more direction and feedback from superiors than previous generations. Fortune magazine stated in its May 28, 2007 edition that this group are “the most high-maintenance, yet potentially most high-performing generation in history because its members are entering the workplace with more information, greater technological skill and higher expectations of themselves and others than prior generations.” Additionally, Time’s July 16, 2007 edition stated that members of Generation Y want the kind of life balance where every minute has meaning; they don’t want to be slaves to their jobs as they feel their Baby Boomer parents were and often still are. Millennials also want employers to be socially responsible causes and allow for volunteer commitments through the use of flex-time or compensation time. Flexibility in work hours is important to this group of workers.
Yes, this generation requires a great deal of management, but it is well worth the effort to recruit them into your business They are smart and have the drive and creative thinking to make a real different in the business world and in a company’s profitability.
It is clear that recruiting Generation Y members and adjusting to their wants and needs will prepare industry for the entry of the next generation, people that are expected to be even more technology oriented. While this generation does not even yet have a “name”, it won’t be long before they begin entering the workforce and seeking employment in your company.
By understanding the four major groups into today’s workforce and providing for each group’s needs, effective employees can find their jobs satisfying and are more likely to remain with your business. Each group brings many positive aspects, all of which can be used effectively to gain greater efficiency and streamline operations to ensure profitability.
By: James OsgoodFlexible Workspace