Gen Y in the Workplace And Perceived Shift

richtung Y in the Workplace And Perceived Shiftin richtung Y in the Workplace And Perceived Shiftin richtung Y in the Workplace And Perceived ShiftGFORCESWORK PDFNote Youll need Adobe Reader to view the PDF file above. Download Adobe Reader.Wednesday, November 12, 2014From Time magazine to The Economist, it binnenbinnenseems everyone has been talking about the fur generations in the workplace. richtung Y in particular has been celebrated, dissed and discussed at length in the blogosphere, on the speakers podium and in books. Were at the moment of generational shift and with it come new ideas and practices, which pose challenges to the old ways of doing things. There are substantial differences in how Millennials view their selves and how they are perceived from a mora mature workforce. Where is the disconnect? Work ethic, loyalty and maturity of todays young talent have come under great scrutiny. We must drop the negative stereotypes associated with the younger workforcevalid or elen dand realize that our success depends on their success.ur webinar will focus on unterstellung characteristics of in richtungeration Y in the workplaceCareer Stage and Future ExpectationsWorking hours and locationJob attractionsAttitudes toward work and careerTraining, learning and learning stylesFeedback and open communicationWell also provide recommendations on how to navigate and overcome challenges with this young workforceRecruiting Generation Y Key Job AttractorsUnlocking the Talent of Generation YRetaining Generation Y ManagersJoin us as we investigate the attitudes of younger managers and employees. How do they feel about work? How closely do they fit the stereotype of the impatient, over-connected, boundaryless generation? What do we need to understand in order to recruit, develop and retain young talent?Presented byJill Evans Silman, SPHRSenior Performance ConsultantInsperity Recruiting ServicesJill Evans Silman, SPHR, has nearly 30 years of talent acquisition and managemen t experience. She has developed a variety of business ventures in the workforce industry, partnering with clients to recruit and train staff with an emphasis on productivity and wertmiger zuwachs. As a Sr. Performance Consultant with Insperity Recruiting Services, Jill helps businessesparticularly small and medium-sized firms, find the best talent with the latest in recruitment strategy, talent attraction methods and technology. Jill is committed to changing lives by connecting the right talent to the right companies so that everyone succeeds. Hiring is one of the very most important decisions a business owner makes and Jill is passionate about how companies can address growing recruiting and retention issues within their organizations.Eric Kilponen,Manager, Product Marketing Sales OperationsInsperity Recruiting ServicesEric Kilponen has over 16 years of marketing and product development expertise in technology solutions. His current position is manager, product marketing and sales operations at Insperity and is responsible for building demand generation, sales provisioning, and operations for Insperity Performance and Organizational Management software solutions. He holds an M.B.A. in Marketing from Marymount University and received his Bachelor of Science degree from Purdue University.Sponsored byInsperitys mission says it all Insperity is committed to helping businesses succeed so communities prosper. For mora than 27 years, Insperity has been revolutionizing the way businesses operate with their array of HR and business solutions designed to help businesses run better, grow faster and make mora money.Webinar Transcript G Forces at Work Understanding the Perceived Shifts of a Genuine WorkplaceGood afternoon everyone, Im John Rossheim senior writer here at Monster. Thanks for joining us today for this exclusive webinar. Our webinar today is called G Forces at Work Understanding the Perceived Shifts of a Genuine Workplace. It will be presented by Jill Evan S ilman and Eric Kilponen. Today well investigate the attitudes of younger managers and employees. What do we need to know in order to recruit, develop and retain young talent?The webinar today is hosted Intelligence, helping HR professionals retain top talent and improve recruiting strategies. We collect and analyze data from millions of job searches performed on Monster, and we create in-depth reports of the labor market, hiring trends, recruitment best practices. So feel free to visit hiring.monster.com for more information. Our sponsor today is Insperity. Insperity is committed to helping businesses succeed so communities prosper. For more than 27 years Insperity has transformed the way businesses operate with HR solutions designed to help companies run better, grow faster and earn more revenue.Now heres some hintergrund on our two speakers here today. Jill Evan Silman is the Senior Performance Consultant for Insperity Recruiting Services. Jill is nearly 30 years talent acquisitio n and management experience. Jill helps businesses, particularly the small and medium size, to address growing recruitment and retention issues. He helps companies find the best talent with the best strategies, attract similar methods and technology. Jills committed to connecting the right talent to the right companies so that everyone succeeds.Our second guest speaker is Eric Kilponen. Eric is manager at Product Marketing and Field Operations for Insperity. Erick has over 16 years of marketing and product development expertise and technology solutions. He helps build demand generation, sales and operations for Insperity software solutions. Eric has his MBA in marketing and his undergrad degree from Purdue. Now without further delay, lets welcome Jill and Eric.Today, were at a moment of the generational shift when it comes to new ideas and practices with the younger generation, which poses really great challenges to the old ways of doing things. With younger generations, we need to drop the negative stereotypes associated with that workforce, valid or elend, and realize that our success depends on their success. So today were going to really explore some of those things. Before we get started, I just want to have you guys join us on Twitter because these webinars tend to be very one-directional until we get some QAs.We want you to join us in the conversation today, and one of the ways to do that is to utilize the hashtag Gforces, and that way you can comment, question or converse with one of our moderators or each other. That gives us the great opportunity to network, interact and connect with others that are interested in the topic. Hopefully youll find value in the content and presentation and the networks youre going to be able to create. With that, Jill, Ill pass this over to you.Fantastic First of all I want to thank Connie, John and for this opportunity, and I certainly want to thank each of you being with us. Were really excited today to be able to pres ent on these generational insights around wertzuwachs management and just delighted to be able to share with you. What were going to talk about today briefly is the Who. I know that weve been talking about these four or five generations that are now in the workforce for ad infinitum. But lets just go back and take a look at Who, very briefly, and the why why are talking about this, and then really what are we talking about? The things that matter the most to all of us as employees, but particularly with a focus on the millennial generation or Generation Y.So well talk about job attractors, well talk about work and life balance or integration, well talk about work and careers and attitudes about those, training and learning styles, and some feedback and communication. Well wrap up then with some recommendations around the ideas of recruiting, motivating and retaining this workforce. Of course, as weve mentioned before, well have time for questions and answers.Every generation is bro ught up with a set of social and family work values. We used to call these things standards, and we can all recognize the traditional complaint among older generations that standards have fallen. Maybe its more accurate to say that standards have changed. As Eric said, weve got to drop negative stereotypes associated with any of the workforce younger, older, whoever. Whether theyre valid or notlage, you just really realize that our success is tied to their success. Generation Y is variously defined, but usually its taken to mean people born late 70s into the mid 90s. Theyre anywhere from the early 30s to 20-ish right now.Theyve been celebrated, theyve been dissed, theyve been discussed at length in the blogosphere and on speakers podiums, and in books. Fortunately, some are indeed shedding the assumptions that Gen Y is lazy and entitled, and selfish, and thats a good thing. But more of us need to follow suit. There welches a 2013 study I know, now its almost 2015, but in 2013 beyon d.com did a survey of about 6,000 job seekers that are in HR professions. They found out that Gen Y has still a pretty serious image problem, if you will. According to this survey, there are still some very substantial differences in how Gen Y views themselves, and how HR professionals perceive that particular cohort group, in a variety of categories, including work ethic and leadership skills, among others.86 percent of Generation Y identified themselves as hard workers. Yet, when the HR managers were polled, only 11 percent of them thought that Gen Y would work hard. Most strikingly, probably, welches the issue of loyalty, where only 1 percent of HR professionals felt that Gen Y in 2013 would remain faithful to their employer over the long term. By contrast, 82 percent of Gen Y cohorts self-identified as loyal, underlining that chasm that exists between younger job seekers and HR professionals that tend to be from older generations. But applying our old constructs the way that we ve always done business to the newest of the generations just isnt going to work.Much of the commentary on Gen Y is forgive me if sometimes I slip between Gen Y and millennials were talking about the same group here. But a lot of the commentary that we have about this particular generation is anecdotal, and some of it can just be applied to younger employees in general. I think instances of the older generation wringing their hands about these, thats not novel. In the Middle Ages, the masters complained about their apprentices work habits.Then, I welches reading something from Peter Cappelli, who works at the Wharton School, and hes the director for human resources The Center for Human Resources at Wharton. He said, You can find these complaints in ancient Greek literature in the Bible. According to him, its just the way that old people see young people. Suffice it to say that whenever theres a new generation on rise, the old generation is getting older. Were at a moment of the ge nerational shift. mora and more Gen Y is coming to the employment age every day.Its my understanding that they currently comprise about 36percent of the US workforce, and by 2025 which isnt all that far away millennials will make up 75percent of the workforce. By comparison the generation before them which is generation X they represent only about 16percent of todays workforce. So as Gen Y fully enters the workforce, they bring in a lot of new ideas, new practices, and these things pose challenges to the old ways of doing things. I do believe that these younger managers are being more career minded-ish than all of our stereotypes might suggest. I firmly believe that theyre up for a challenge, and yet they want to be betreuunged to meet that challenge. At the same time, theyre likely to challenge our norms fundamentally, and stir change in behavior of our organizations.I was listening to a conversation with Mike Mullin, and he talked about the millennium destruction and how its b ecome so evident just in culture today. He was talking about music. When this generation came up well, Im going to admit to you that Im a baby boomer. Back in the day, we would have to buy the entire eight-track or the entire album, even if we just wanted one song. Generation Y, they are like, Number one, I dont want to pay for music, and I certainly dont want to pay for the entire CD, the entire album, the entire whatever you want to call it. So iTunes came up with the idea that you could buy what you want, when you want it, and no longer do we have to listen to the entire eight-track.This whole idea of moving away from fast food to a fast, casual dining experience made popular by FreeBird and Chipotle and in other places like that. You can see how this disruption has taken effect, driven by the millennials in overall society. So why would we expect that it works, being as it would be any different? I think Gen Y is truly here to shake up the way that work has traditionally been d one, but I think its just building on what Gen X their older brothers and sisters what they started. Gen X was born late 60s, mid 70s. This is a generation that weve talked about an awful lot as well. But this was a generation that when they came on the scene they came of age when the US was losing on a lot of fun.I think because we told them to believe in a lot of things that just no longer held water, that we created a cynical or a pessimistic generation out of this group. They couldnt believe in the economy because mum and dad were getting laid off, couldnt believe in the government because of Watergate, couldnt believe in the military because of Vietnam, couldnt believe in this, couldnt believe in that, couldnt believe in white collar employment, couldnt even believe in the institution of marriage, because why? Mum and dad are getting a divorce.So, with all of this, you started to see a change in this particular generation and almost a carpe diem kind of attitude, where Ive got to take care of things myself, because I really cant count on anybody or anything else. Even when you watch television shows that moved from the 60s into the 70s and 80s, you can watch this happen in a family relationship. 60s and 70s there were shows like Father Knows Best, Leave it to Beaver nice family, four people in the family, white picket fence and that sort of thing, and they could pretty much solve any problem in about 30-minute time span.But then we moved in to the late 70s and early 80s and we started to see shows like All in the Family and Mod. These were showing families that and their dysfunctions really getting to show. Then you move in to the late 80s, and these are the television shows that this particular generation grew up with, but then it moved away to more, Your friend is your family, and not necessarily, Your family is your family, because anytime family members, if youre talking about Seinfeld, or Friends, or shows like that, would be represented, mom and d ad were a little on the wacky side. So we begin to see that people were like, Im going to build my own relationships with those sorts of things that are important to me and that I can depend upon, not just family for familys sake but Ill make a family out of my friends.This is a generation that really did value that self-control that self-reliance is what is what Im really trying to say. Because this, is the first generation of latch-key kids. This is the first generation that we might have told them, Hey youve got to do these chores. But you know what they got home from school at 330. Mom didnt get home from work until 630. So when they did those chores was up to them. So if we said, Put away the garbage can, or Make your bed, and were slamming around doing that at 625, So be it I get to call the shots. Can you see how some of this is coming to the workplace?This is also a generation, that when they did come to work, they said, Wait, wait, wait, I dont care that youve been here th ree years, and Ive been here three days. Are we doing the same job? If were doing the same job, why arent we making the same amount of money? So they began to look at work from much more about productivity, and a whole lot less about tenure, because they came into these workforces where everything was built on tenure, and time on the job. You dont get your insurance until youve been with us 90 days. You dont get vacation until youve been here six months, things like this.So they came in, and they began that disruption of what we know as the modern day work life. So I think built on that Generation X foundation, the Generation Y-ers or the millennials, theyre just here building and shaking up what has already been started. This Gen Y thats the millennials this is a generation that came of age in a time when people said, Oops, we didnt really like sometimes the way the Generation X worked out, so were going to change a few things about how were going to parent, and how were going to raise Gen Y.So a lot of times rather than both sets of parents working, some of these stepped off the fast track to bring these kids into the world, and to bring them up, and begun a relationship with their children that is very different from the parenting of the past. For that reason, folks out of the millennial generation, sometimes they see that the older generations as cool. My mum may as very well be my best friend that kind of an attitude. So theres a certain amount of respect, if you will, but an inclination to listen to those from the generations that have come before.This is also a generation that was extremely busy as they were coming up everything was scheduled. You didnt just open the back door, let them run out, and go play. No, we had to be at Chick-fil-A at 1000 for this play group, and then we have to go to trumpet lessons, and then we have football practice, and then we have this, and then we have that a very highly scheduled generation that was expected to pro duce things that would look good on their resumes, things that would look good on their college applications, things that would look good for the future.This is also a generation that grew up talking about things. If mom, and dad, are my best friend then why wouldnt I talk to them, and why wouldnt I talk to my teachers, and everybody else? I need to let everyone know that Im on Ritalin, or Im on ADHD medicines, or whatever it is. So we raised a generation that lacked a little, what the rest of us might say, discretion. Because they came into the workplace, wanting to talk about all sorts of things. And, of course, if they could easily reach their parents and principals, then she is writing an email to the President of the United States, there is expectations that they should be able have a conversation with someone at work their manager and that sort of thing. They are going to watch some of the things that happened to us as we were growing up really begin to impact our expectation s when we hit the workforce.This is also a generation that I dont know if it started with court mandates or whatnot, but is extremely philanthropic. This is a generation that has grown up thinking that they would rather make 40,000 at the job they love than $100,000 a year in a job that they think is boring. Part of what they are going to love is an opportunity to give back to their community or to give back very philanthropic as a generation. Its also a generation in which 52percent of them expect to work for themselves one day, want to have some impact or some control over where they are working and what they are doing.Lets talk about a little more just about some of the statistics that have been reported on this Generation Y. There is a report called the Millennial Compass Report, and they surveyed nearly 1,300 employees in the US as well as some of the other developed countries. Their survey showed that millennials are very focused on achieving through those personal networks a nd technology, because this is how theyve grown up. They are also very focused on having a good work-life balance, and getting high levels of support from their managers.Again, this all ties back to how they were groomed as they were coming up. With this generation, they dont want to be necessarily tied to an organization, a time table, a hierarchy. In many ways, theyd rather avoid the stress that they see their senior leaders that are shouldering right now. But yet they are very ambitious to move up in their careers, sounds like were contradicting ourselves. But they want to move up in their careers on their terms.More than 40percent of this generation, according to the Millennial Compass Report, expects being in a management position within two years. They do think that they have a very strong work ethic, but their definition of work ethic is different than the generations that have come before. They define the term to include a good work-life balance Loyalty to the organization. Now thats not particularly a strong value for the millennials. They think that they will be in their terms loyal, but I dont think its going to look like what loyal looked like to the generations that came before. As a matter of fact, according to this survey, nearly 50 percent of those who are surveyed said that they planned to depart from their employer after two years. What does that tell us about what we need to think about in terms of retention, training and development?Something that I think that was very telling, that came out of this survey, is millennials want to view their boss, their managers almost as their friend. Remember how they saw their mom and dad? Well, thats the expectation for when they get to work as well. Looking at them more like a coach or a mentor. Millennials arent necessarily concerned with titles, but they strongly admire those people who have experience or knowledge, and thats much more important than position or power necessarily.Often the millennial s that were surveyed believe that their skills are better utilized than those that come from the baby boomer generations. Theyre looking for managers who understand the skills and the talents that they can bring to the workplace, and theyre looking for someone who can be very supportive, someone whos on their side, has their best interests at heart. Really, according to this survey, theyre looking to work for companies that are innovative, who will understand their skills and work to develop their skills, and like I said before make that positive contribution to society.These reports underscore a number of Gen Y studies in the recent years, with particular reference to the different attitudes and expectations toward work and careers compared to the more dominant baby boomer generation. As Ive mentioned before, its clear that their definition of loyalty to the organization and expectations for frequent career or job changes are expected. Gen Y has a very perspective and expectation o f the role and the behavior of managers. Again, seeing them more as encouragers or coaches, almost in a peer capacity something that is probably pretty much at odds with the current generation of baby boomers, who see their role as one associated more with power and position.Deloitte did a millennials survey, which is the third survey, and they looked at nearly 8,000 millennials across about 28 countries. Whilst most of my conversation today will be US-centric, there are some similarities across the globe. I find this very interesting about the Deloitte report. Most millennials believe that business is having a positive impact on society and helping to create prosperity, and really have an expectation that our businesses can do much more to address these challenges resource parity, climate change, income inequality these are the things that are most important to the millennials surveyed.So more than 50percent of them want to work for a business with very ethical practices of what they see as transparency and ethical practices. While they think the government has the greatest potential to address societys biggest issues, they also feel the government is overwhelmingly failing to do so, and so they expect the businesses and individual entrepreneurs to innovate to address those challenges in society. Yet, when theyre talking, they say that they believe the biggest barrier to innovation is managements own attitudes. Theyre looking to measure success, not just in financial performance, but theyre looking to measure success with a focus on improving society. They feel thats one of the most important things that business should seek to achieve. As I mentioned, theyre also very charitable, very keen to participate in public life donating to charities, actively volunteering, being a member of a community organization.Deloitte also concluded at the end of their survey that as a result of the economic pressures to flatten organizations, that millennials are really mor e interested in what you could refer to as a corporate lattice rather than a corporate ladder. These young people want new jobs and new assignments every 12, 24 months. Theyre not going to wait three to five years for a promotion. It doesnt necessarily have to be a vertical promotion, if you will. But perhaps this is someone sitting in accounting but is looking over to their left and saying, Hey, those folks in marketing look like theyre having a great time. I think Id like to learn a little bit about that.This study also pointed to millennials preferences for organizations that have a very open, transparent and inclusive leadership style. This generation thrives on fairness in those employment-based appraisals. Theyre looking for fairness theyre not looking at tenure or seniority. Thats not necessarily as important. Remember that was something that started about the older older brothers and sisters in Gen X. Gen Y would also prefer to have access to a number of peers and other lead ers, rather than be limited to working with just one manager, one leader. I think that the best take away from the Deloitte report was, Gen Y thrives on innovation and change.Its becoming clear from all of these reports, everything that you can Google and you can find on the Internet, that our businesses really need to pay a lot of attention to structuring our workplace and really better adapting to the realities of the next generation. One thing that comes through loud and clear with this particular generation that were focusing on today is that employees want experiences. Truthfully we all want experiences. But with this generation theyre much more excited or interested in the accumulation of experiences, even more than money or material things.I read a book one time by Gilmore and Pine called The Experienced Economy, and they really spoke to the fact that particularly in the US weve moved beyond customer service or the service economy and were now into this thing called the exp erience economy. Thats why you dont just go look for sporting goods you go to Gander Mountain or a Bass Pro shop or something in your area and climb the mountain rock climb, you play like youre skiing, you have a virtual skiing experience. Thats why you dont just go buy a golf club, but you go to these stores that let you act like youre playing on Torrey Pines or something.You dont just go to a restaurant but you sit in the middle of a Hard Rock museum or a rain forest, and that everyone is looking for experiences. This is like church, doesnt look like church when I was growing up that you want to have an experience, a worship experience. So I dont know that thats so different for each of the generations, but I do think that with the millennial generation its an absolute expectation that they will have experiences tied to their opportunity.So lets talk a little bit now that we know who this generation is and weve seen what, Thats why they do some of those things. Lets talk a little bit about what we need to do with our workplaces to make sure that were providing those opportunities that were beginning to make the changes that will accommodate this very large sector of our workforce. When we talk about job attraction, I think there are four important factors that will attract a young employer, a young manager to a new job, and thats career development, the work environment and values, the lifestyle associated with that job. So that could be the pay, that could be the location, or that could be the flexibility of the job. You know what? Overall, this needs to change.Career focus elements such as developing new skills and having a challenging assignment, and good other prospects are diamond attractions for Gen Ys in joining a company. The work environment itself the pay and the job security if you ask the millennial generation, those are also seen as important. But they are secondary to challenge and development. All of our research is showing that this millen nial generation is very confident, they are individualistic and they have a strong achievement orientation.A lot of that comes from the way that they built their resumes and their applications for colleges Do this so that you can do that. Collect all the ribbons and trophies and awards you can possibly collect. What does that mean to us? It means in order to keep them engaged we have to continue to give them challenging assignments, where the success or failure depends primarily on that level of effort that they put into the project. Theres nothing more intrinsically motivating than being intellectually stimulated and forced to test your limits the limits of your skills and limits of your expertise. The feeling of accomplishment after achieving a challenging goal is a primary driver thats going to keep the millennial employees engaged and committed to your organization.High levels of challenge by itself, thats not going to ultimately lead to higher levels of performance. The mille nnials have to feel like they have the adequate skills to take on these challenges. This generation has a very strong drive to personally and professionally develop. In fact, millennials view personal and professional development almost as equal, or if not more important, than financial rewards or even flexible working hours. They want to be learning and mobile learning theres more ways than ever to develop your employees.However, not all learning and development experiences are equal when it comes to igniting innovation with this group. That has implications for the types of developmental opportunities that managers should provide to their millennial subordinate. Learning initiatives that help them get their feet wet, jump right into the action, ideally with guidance and support, are a great way to help facilitate creativity. Perhaps the most effective and cost effective way to provide professional development and enhance creative performance is simply to provide frequent feedback and openly communicate organizational information.Another attractor to this particular generation, is this idea of we used to call it work-life balance, but I think now with this generation its more like work-like integration. The majority of Gen Yers, theyre going to work right up to their contracted hours, maybe with a small amount of overtime. Theyve got another life to get to. Working away from the workplace, its a feature right now in about half of Gen Y lives. Working on the weekends, the evenings, or working when traveling.A recent Price Water House Coopers report on millennials showed that work-life balance is the primary driver of work engagement and organizational commitment among young employees. At first us older generations, we may have scoffed at all of this, and wrote the millennials off to being lazy or disinterested, or self-absorbed. But in actuality, higher levels of work-life balance can be quite conducive to the generation of creative ideas. So it may be that t hey leave work at the regular time, but perhaps theyre thinking about things even when theyre away from the workplace.What are the overall attitudes towards work and career from this particular generation? There are some job attributes and some values that seem to be sought by all Generation Y. The overwhelming majority, to the tune of 97percent, theyre looking to build transferable skills. Given that that 50percent or so anticipate moving to a new job within two years, pretty pragmatic, I think. A simple desire for change seems to be an important factor in looking for a job. It seems that rather than try to change the circumstances of their current employer, Generation Y would prefer to look to a new job that would provide important elements that were absent in the previous job.However, theres some pretty strong values driving Gen Y in the workplace, and theres a strong consensus that they want to work for an organization that does something that they can believe in. Theyre also lo oking to align their values with companies that uphold those strong values, especially as this generation matures. More than half say they would only work for an organization with strong values, but amongst those 30 and older, thats a requirement for more than 60percent of that subset.The majority of the generation are anticipating some upward career progression, either in their current organization or moving out to another one, although their precise career paths may be a little vague. Young managers seem to be very attached to work and developing their career, although career goals are almost always linked to them as individuals rather than employees of a specific organization. I found this to be very interesting with a lot of folks that Ive worked with, where they openly share what they want to do next, and it really has nothing to do with opportunities my own organization can provide for them.As a baby boomer that would have been just foreign to me to ever begin to utter that I might be thinking about my next steps, or something that doesnt have anything to do with my current employer. But in general young managers are more career-minded and more committed than I think our stereotypes have suggested in the past. However they are going to be much more likely than previous generations to move on if their need for challenge and career development are not met.So lets talk a little bit about career stages and future expectations. This is a generation that faces considerable financial pressures. Graduated with a lot student debt, and those higher educational tuition fees, those student loans were much higher than generations before them. Also theyre faced with significant house price inflation over the last decade. Nearly half of this generation remains in rented accommodations or with parents. Something that I found interesting is that as this generation begins to age, there was this expectation of going home, which is perfectly fine and perfectly cool, but tha t as they continue to age now that theyre moving out of their parents houses and theyre very often maybe moving in with a sibling. So not completely striking out on their own, but they are beginning to move out of mom and dads house.In addition to this, there also appears to be a growing trend towards a more transitory employment contracts. Back in 2002, only about 6percent of youngest managers were on contract, compared to more than 21percent today. I think this has a lot to do with Im not sure if any of you has ever read Daniel Pinks Free Agent Nation. I think this is a trend thats happening across all ages as employees, but very markedly so with this particular generation.A lot of literature suggest that theres this development of what you would call a micro-career, if you will, where tenure on the job is much shorter, which is a characteristic of the Gen Y, whos highly impatient -far more willing to move jobs regularly. These micro-careers would allow for about a third of this population to do something and then move on to something else very, very quickly.Theres another third that stay in their jobs between three and five years, and then theres another 30percent I think, of this generation, thats been quoted to be in place of their current employer for up to six years or even more. But looking at future career expectations, the dominant expectation is for continuous movement, sometimes within their current organization, and many anticipating moves to other places in order to grow.In training and learning styles, this generation is different when it comes to their learning and personal development. Theyre willing to take substantial responsibility for their learning to achieve their ambitions. For all the lip service that weve been paying to the idea of coaching and mentoring, it really appears to be a minority experience for most Gen Yers. Its what they seek the most, but its what were delivering the least. However, those whove been lucky enough to be me ntored or coached, they perceive it to be the most effective form of management. The experience of coaching and mentoring was highly associated with job satisfaction amongst this particular cohort or group.So what does that look like when youre coaching or mentoring? What kind of feedback, what kind of communication is Generation Y looking for from their workplace? They want plenty of feedback and information and they want it in real time. One of the best ways to keep them engaged is to give them continuous constructive feedback thats aimed at helping them learn from their mistakes and their successes. It facilitates that on-the-job experiential learning and also demonstrates that others care about them and their contributions to the organization.Millennials appreciate transparency in the workplace, and they want their communication to be open and honest. They can easily be turned off by communication practices that are characterized by the withholding information. You know what? Ma nagers dont need to feel like theres pressure to be the only source of feedback. Managers can help facilitate the feedback environment by setting norms of open communication and helping behaviors. The openness of information is the characteristic that organizational psychologists refer to as a psychologically safe work environment. When employees feel safe to express their ideas, even if their ideas are different from others, theyre more likely to present unique perspectives that can really open us all up to novel ideas and innovations.So with all of that, I think its time now to move to, what are some of the recommendations that we have amongst the ideas of recruiting, retention and development of our employees? Ive asked Eric to sit in with me, and perhaps he can help us speak to the idea of recruiting by answering a few quick questions that I have and maybe these are some of the questions that you all are thinking of as well. But Eric, what should you consider in order to attract appropriate candidates, specifically when you are looking at Generation Y? What sorts of things do you need to consider bringing them into your organization?Thanks Jill. Whether we talk about Generation Y or any other generation, it really all starts with trying to get somebody in and attract them it starts at the job description. It all starts with a well written job description. Its particularly important with Gen Y, because theyre analyzing the companies that they want to work for just as much, if not more, than the company is analyzing who theyre trying to attract as candidates. So its so important with job descriptions. We wrote a blog article not too long ago, and we can get some white papers on it that well be happy to share with the audience after the webinar.Job descriptions really, as a company, its a reflection of the company. They need to be error-free, they shouldnt have spelling or grammar errors. They shouldnt use jargon, buzzwords, clichs or any other types of abbre viations. Gen Yers in particular, they dont want the stuff in there. They want really know whats the job, and hows it going to impact them. They want to make sure that its the right fit for them.In posting your job descriptions or putting the word out there, whats the best way to reach Gen Y candidates?Great question. Theres lots of ways to do recruiting and get your jobs out there. Here are three unconventional recruiting practices that I think would be great for attracting Gen Y type of candidates. Theres online recruiting events, gamified attraction or humorous types of video campaigns, authentic real-life insights into what it means to what for your company. Start with online recruiting events. This is really a natural fit for Gen Yers that are always online. They always have their phones with them, theyre always communicating with their phones. They communicate more online than they do verbally. So thats a great way to reach out to them and engage with and potential employers c an engage with candidates through chat, chatting with future colleagues, or just exploring workplace online doing virtual type events, are great ways for online type of recruiting.The second one gamified attraction or humorous campaigns. Games and video are really the immediate trend for young audiences, and its not surprising that gamification and video campaigns work extremely well with attracting Gen Y talent. Theres a study that was commissioned by Coney Central that revealed, unlike previous generations, humor and not music, believe it or not, is Gen Ys number one form of self-expression. So Id say consider really the use of fun, or video clips, or games when youre advertising for jobs and you never know, it could go viral for you.Then the last one that I thought up was the authentic, real-life insights into what it means to work for your company. This ties a little bit into online, but this is where, if you have any Gen Y employees working for your company, really encourage th em to go out and blog, tweet, or talk about their experience on social media of what its like to work for your company. Because that sharing aspect is really going to resonate well with Gen Y employees, and thats going to speak volumes for your company in that respect.Thank you, and you know when we talk about motivating and unlocking their talent with Generation Y, as I mentioned before theyre very comfortable with taking on responsibility for their own learning and development, but theyre really looking for more feedback and more support from those in leadership positions within their organization. So when we talk about motivating them that leads me to always think about just performance management in general, and engagement, if you will. Do you think that this generation is going to change the way that companies do performance reviews in the future?Jill, I think its an absolute must. I think that the old performance review process in general is going to be changing over time, and part of it will benefit naturally into some of the Gen Y employees. But Gen Yers really want that ongoing feedback, and performance reviews tend to be an annual event. A shift in that performance management aspect needs to be more into social integration and mobile so you have that immediate, ongoing type of feedback. Dont get me wrong, when it comes to constructive criticism thats a little bit different.When were talking about feedback, its positive feedback, mentioning others that are talking about other things. But with constructive criticism, it is very important for Gen Yers to have that face-to-face interaction. Dont do that with the mobile aspect you want to have that face-to-face, because thats what they want. Its also important not to forget to make sure, with the whole forest management process on goal setting, establish upfront the expectations, what youre working towards, because theres that sense of satisfaction when theyre completing those goals.What other kinds of pr actices do companies really need to consider when theyre managing Gen Y employees?I think you mentioned this earlier in your presentation, that its a really a shift from managing to more mentoring Gen Y employees. Theres no statistic thats out there that says 40percent of the 75percent of these near future workforce tend to leave because their boss is a jerk. They dont get along with their boss. Thats where its important that you really have to train up our managers. Get our managers to recognize how to better mentor Gen Yers.Heres some values that from a Gen Y perspective, whats important to them from a value perspective is trustworthiness. They want to work for somebody thats a subject matter expert. They like kindness, and they want somebody that can share a credit with them, or also accept blame. But on the other side of that is what values do they like the least? Thats important for people that are managing Gen Yers, the need to mentor them. They dont like micro-management. Inc ompetence is not good. Unreasonableness, narcissistic or selfishness and also just meanness are discouraged. The other thing is that, they want to work for somebody that they can have that regular interaction with. So many times bosses tend to interact with people depending on the job and the situation but its not frequent enough. Gen Yers really like to have weekly interactions with their boss on an ongoing basis.Good, thanks. Around the ideas about retention of this segment of the workforce, what are some ways that companies can better manage the workforce, so that they can effectively retain Generation Y employees?It starts with insight. Companies really have to have and especially managers and HR departments need to have an understanding of what the mix of their workforce is. So the question I would ask out there that the audience is going to answer themselves obviously is, do you know what percentage of your current workforce are Gen Y? If you answered yes, you do, then con gratulations because you are ahead of the curve on that, and hopefully youve got some good programs in place to really effectively develop and engage those individuals in your business. But probably a fair amount probably answered no. My suggestion is to probably put some programs in place or some processes in place to start gathering that data and have a way of looking at that on an ongoing basis, and put a strategy in place that you can help grow the company and better develop and engage those employees.At this juncture I think a lot of the Gen Y are moving from the employee status, to that of being a manager. So as they continue to move into more management roles, how does that change for a company? How does the company continue to keep them engaged as they take on more responsibility?Jill, you mentioned that Gen Yers really have an appetite for learning and self-development. Those are some things that really as theyre moving to a management role or moving up with the company, th ey want to have that ability to learn. They want to have the ability to educate, to continue their education in a variety of ways and thats where I think so many e-learning solutions that are out there are great and helpful. Gen Y-ers like to learn, but they want to learn on their own time frame, at their own pace. Thats important when theyre looking at companies too. Those are things that they want to have available to them, because its important to them, and they want to be able to continue their development.Absolutely. Great ideas, great ideas. As we begin to conclude todays webinar, the overwhelming message here that there is a strategic imperative now for us to be able to manage the young workforce. Recruiting, retaining and developing particularly this generation can be a critical success factor over the next few years. Theres no support for the idea that Generation Y shies away from hard work. Theres plenty young managers that are prepared to work extremely hard, if they fe el its worth it. But most of our youngest generation are clearly integrating their work with their lifestyle choices.So in some ways, young managers are a predictable herd that are going to appear challenging, look a little demanding, but I think that theyre also eager and confident, and only striving to be better, and see themselves as true assets to the organizations that they work for. Therefore they want to make the most of their time there. They want to learn, especially through feedback from their superiors, so that they can constantly improve. In the millennials world, the old boundaries, the old social orders of the workplace are seen as barriers to success. The attractiveness of the generation label for the rest of us really shouldnt blind us to the more complex and individual stories that lie beneath those who belong to the Generation Y. So, with that I want to thank you for your time and your attention over the last few minutes, and I think now its time to turn it over to the prospect of some QA.Thank you ladies and gentlemen. If you would like to register for a question today, please press the 1 followed by the 4 on your telephone. Youll hear a three-tone prompt to acknowledge your request. Your line will then be accessed from the conference to obtain information. If your question has been answered and you would like to withdraw your registration, please press the 1 followed by the three, and if youre using a speaker phone, please lift your handset before entering your request. Once again to register your question, press 1-4.Thank you very much for the reminder to folks to register questions. Eric and Jill, fascinating. That was great, thank you. We had actually, a lot of questions, and we may not have time for all of them. But two poll questions came in. Let me ask the first one, this question came from Alyssa. Lets see here. Alyssas question is a great one. Do you have any strategies for a Gen Y manager looking to earn respect from older, direct cohorts? I sometimes feel I am not taken seriously because of my age, despite a strong work ethic.I think that this is the hue and cry, as our youngest workers are taking on more of that responsibility, but yet rubbing elbows with those from the older generation. As much as I spent today just talking about how we need to, as older cohorts, acknowledge, bend, morph and change a little bit to accommodate generation Y, I think that theres something of value in Generation Y, just learning how generations that came before them communicate, and their expectations in the workplace. Depending upon which generation some of those older managers, or folks in her workplace thats shes discussing, I think everybody needs to be spoken to in a manner in which they understand and can appreciate.One time I was talking to a group and a girl was saying, The folks that I work with that I am on the same level with, they never respect my ideas. So we started talking about a team and the team that she was talking about had some folks that were older 45, 50, 55. Some that were in their 30s at that time, and I believe that she was somewhere in her early 20s. I told her, How do you communicate with your ideas with them? Well, I just blast them out and then email to all.Particularly in an organization that has been built on hierarchy and a command and control environment, just blasting things out without going through the proper channels and demonstrating the proper respect, if you will, for the ways that have gone on before, that leads to folks just not appreciating whatever it is because, Thats not how we do it around here. So I dont know that Im really answering Alyssas question directly. But I think partly it has to do with morphing Gen Y style to attract or to speak to, if you will, those of the older cohorts.Oh great. Thank you Jill. Jill, we have another question direct from Margo. Its pretty thoughtful because I think sometimes we always think of people in offices, cubes, and a ll the more formal settings. But Margos question is, What about recruiting and maintaining Gen Y in a factory setting? Any advice for her?I do think that some of those intrinsic values and some of those ideas that belong to this particular generation of worker still needs to be considered. Because we know that sometimes in those type settings the work can be very quickly repetitive. Very quickly they could begin to think, Hey I know everything that I need to know about this particular job and I can already do it two days into it. So I think with that group continued development, continued opportunity, perhaps even around the idea of the jobs sharing and getting some different experiences throughout the day. Because again think back to that idea everybody is looking for an experience. If you just understand that doing the exact things over and over and over again, I dont know that any of us would consider that as a great experience. But trying to build those things into the workplace that offer experience and are unique and still challenging. I think that every generation of worker is looking for that.Excellent, thank you Jill. While were already at 300, we have time for one more quick question its from Nicole. Her question is, How important is it to sell the organization in the job description for Gen Yers?I think it is very important from the position of they want to know if theyre the right fit before they spend a whole lot of time doing a lot of research and digging. Is this even a place that begins to sound like a place that I would fit in? So, I do think that thats a very important endeavor as youre building your postings in, your profiles on social media to be able to attract them. They want to know that they can fit in. So the earlier that you can begin to share that with them, the better, I think, we are.Excellent, Jill. Thank you. Everyone people had a lot of questions here, but unfortunately we ran out of time here in our webinar, but Jill and Eric, I wonder if you would mind if people do have questions, they could contact you?Absolutely. See our information. I am happy, Im thrilled, and Eric as well, to respond to all questions that come in following the webinar.Yes, so that its a popular topic when we get so many questions. Sorry if we didnt get to your question, but Jill and Eric welcome your questions. Contact them directly. Jill and Eric, we want to thank you very much. This was super fascinating, and you shared your expertise with us. Also, thank you to Insperity for sponsoring todays show. So everyone, this concludes our webinar for today. A recording of this webinar and any presentation materials will be available within two to three days on our hiring site hiring.monster.com and just click on the Resource Center tab. Please join us next time. Our next webinar is December 3 called E-Verify Easily Verify Employment Eligibility for New Hires. So again Jill, Eric thank you, and thanks everyone. Have a great day.