I have recently had the opportunity to experience events focused on how senior finance leaders drive growth. There was a trend across events, both seminars and
Conversations often turned to how it is especially challenging to engage and retain the right talent among the younger generation of workers, commonly referred to as Generation Y (Gen Y). Certain finance leaders pointed out what was “wrong” with these Gen Y workers while others pointed out how to embrace the differences between those in generation y and those of us in generation X and baby boomers.
I would like to offer some best practices in unlocking the strategic value of Gen Y workers some involve helping diffuse behaviors that affect their productivity and value to their employers.
- Discover what makes your current Gen Y workers tic. What motivates them? You may not be able to offer them everything they want to motivate them, but understanding what makes them productive and also what “hinders” their productivity is critical. Learn to embrace what makes them productive. They are used to multi-tasking and communicating differently. Do not put a highly energetic Gen Y worker in a cubicle with no head phones allowed and no internet access to be productive.
- Gen Y workers often have great insight and ideas that are delivered in the wrong manner. Help them learn how to thoughtfully offer their great ideas , and teach them how to successfully navigate the lay off the land within your company. This will inspire others to give their ideas more consideration.
- Coach Gen Y workers how to accept criticism. We are all sensitive to being told we are wrong, but Gen Y workers are often so “used” to being right they react the wrong the way to criticism, and this can derail relationships with colleagues and their productivity in the process.
- Learn how to embrace their different perspectives on driving business development. One example, Gen Y lives in a social media world and dismissing this as a viable growth channel can be costly.
- Gen Y workers have tendency to get bored and as such lose their passion more easily, so be sure to keep them challenged and engaged.
- Coach Gen Y workers on how to listen effectively. I am a Gen X member and I see baby boomers listen much better than those in my generation with Gen Y members listening skills are lagging even more, Gen Y workers are often eager to be the hero before they know who needs to be saved.
- Level set the expectations of Gen Y workers during the hiring process. If they understand they will not be the CEO in six months you will avoid a common friction point with Gen Y workers. Many Gen Y workers seem to feel “entitled” to success instead of being willing to earn it.
- Educate your Gen X and baby boomers regarding their role in making your Gen Y workers more productive, and offer them vehicles to collaborate and interact with your Gen Y workers.
Understanding how to effectively unlock the strategic value of the Gen Y workforce can make or break the success of your company. It is worth the investment to recognize and capitalize of the positive aspects of the Gen Y work ethic while minimizing any potential issues that would not play well at your company.
What are your thoughts? Let’s get this to a Top 20 list.