Generation Y (the young men and women born after 1977) are different from other generations in many respects. Their presence in the workplace is truly making an impact, causing employers to worry, fret and scratch their heads, and asking, "What do I do to attract the 20-something worker, and once I have them, how do I keep them?"

 

The answer to this question is this: Stop trying to keep them and control them with old, worn out "pay your dues" tactics, and start designing your company to be attractive to this generation, which includes over 72 million young potential employers.  When it comes to loyalty, the companies Gen Y works for are last on their list. 

 

These millennial leaders are ambitious, worldly and demanding, and if you can't give them a compelling reason to stick around, don't expect them to. They will either find a better job in greener pastures, or they'll move back in with mom and dad.

 

Many employers are labeling Gen Y workers "demanding" and "self serving" (not a good move), and when you look at the fact that over 64 million baby-boomer workers will exit from the workforce by the year 2010, this puts
employers in a talent deficit dilemma. The pools they have to dip from are these young, so-called "demanding" young men and women from ages 22-30. So, if you want to attract the up and coming knowledge worker, you have to stop calling them names and start doing what you can to accommodate their needs, even if their expectations seem to be outrageous.

 

Tomorrow we'll share some information about the top 10 companies who are doing a great job in attracting Gen Y into their workforce and a few of the strategies they are using.   As you read the list, do your best to resist the thought of "Well, Google, Intuit or Deloitte would never be my competition...we are worlds apart in location, size, budget and industry focus". While it is true that we are all not like Google or Apple, there is one thing that is true: We are in the age of the "young knowledge worker", and Generation Y is the most high-performing generation in the history of mankind with more information in their heads and at their fingertips (and they can multi-task), so they can perform a variety of tasks in many business domains and can live anywhere if the job and company cool. So, in today's world, any company is your competition, yet the big question is

"Will Gen Y be working for you or for your competition?"

 

Stay tuned  for strategies to attract Gen Y workers in tomorrow's email ...