By ALICE WAMBUA and DEBBIE HOLLIS
Talent savvy organisations are leveraging their
intergenerational knowledge to get ahead of competition, particularly in
attracting, engaging and retaining Generation Y (millennials).
While there are similarities between the drivers of employee
satisfaction across the generational divides, understanding the
differences is pivotal to future business success.
Research shows that Generation Y currently makes up
over 50 per cent of the global workforce and their numbers are set to
swell to 75 per cent by 2025.
As the fastest growing workforce demographic, no
employer can afford to ignore Generation Ys differing needs,
expectations and values.
Start by embracing and leveraging Generation Ys
differing career aspirations. As described in research conducted by
Deloitte, millennials will sign up for a “tour of duty” with an
organisation but they are not thinking in terms of becoming part of the
permanent force.
Up to 82 per cent of millennials in emerging
markets indicated that they see themselves as working independently at
some point in their careers rather than being employed within a
traditional organisational structure.
Generation Ys career aspirations leap-frog beyond job security to centre on securing their employability for the future.
Leading practice employers are enticing Generation Y
to “enlist” with their organisation and to keep “re-enlisting” each day
by providing learning and development opportunities that will help
accelerate achievement of their personal and professional goals, aligned
to the performance goals of the business.
Firms are also adapting their training models to
resonate with this tech savvy and hyperconnected generation by including
mobile and social learning tools, combined with prized coaching and
mentoring and real world assignments that have a demonstrable impact on
the bottomline.
In turn, the appreciation and engagement of
Generation Y employees comes from interesting, worthy and challenging
learning assignments that emphasise output.
These include crosstraining and partnerships on
projects with those from older generations and with those they view as
credible and positive role models.
Generation Y aspire to work for organisations that
will help them develop the skill sets they need to stay relevant,
securing their ongoing employability.
Move away from a “command-and-control” mindset to give Generation Y a voice. Also be accessible.
As the youngest men and women on the totem pole,
Generation Y are not always privy to the rationale behind management’s
decisions.
Their desire to be heard, to receive feedback and
to be kept in the loop is greater than their generational counterparts.
More loyal to people versus an organisation, management have a key role
to play in keeping doors open and engaging millennials.
To avoid disconnect, organisations ahead of the
talent curve are creating networking platforms (on-line and
face-to-face) designed to keep Generation Ys in the loop and help them
understand why changes are taking place and how the changes fit into the
team’s overall objectives.
These platforms are also working to harness Generation Ys
fresh perspective, driving innovation and improvements and building
stronger inter-generational understanding, appreciation and
collaboration.
Engage millennials’ passion to get them make their
mark. As noted by Forrester, for millennials particularly, the
boundaries between community concerns and corporate social
responsibility do not exist— work and life blend.
Millennials expect organisations to step up to the plate and make a difference in the communities they serve.
With their strong affinity for teamwork, networking
and collaboration, Generation Y have shown themselves to be more than
willing to enlist enmasse to make good things happen.
Organisations that are cultivating a culture that
values a sense of community, “giving back” and enabling positive
societal change are engaging Generation Ys deeper desire to make a
difference.
Organisations must put in place inclusive
strategies to promote harmony and stronger talent retention of
Generation Y and the older generation.
Tapping into what makes each generation tick will
help your organisation to unlock the multifaceted benefits that come
from embracing diversity and an inclusive approach.
Ms Wambua is a senior consultant and Ms Hollis is a senior manager at Deloitte East Africa.
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