Holding on to young workers

Updated: 06/11/2008

Source: Fresh Info - Wednesday, 5 Nov 08

Mark Murphy, chief executive of Leadership IQ has shared his tips for making the most of young workers.

In his seminar – Managing Generation ‘Why’ – Murphy splits the workforce into four age groups:

• Generation Y, under the ago of 30,
• Generation X, between 30 and 40,
• Baby boomers, up to their mid-60s and
• Traditionalists, who are 65-plus

    “This is the first time we have had four generations in the same workforce"

There are big differences between Generation Y and the workforce that has gone before it.

1. Higher self-esteem
   
   
2. Respond well to positive feedback rather than a ‘sink or swim’ experience.
   
   
3. Have technological authority over the older generations
   
   
4. Used to multi-tasking
   
   
5. Demand the same immediate response from their career as they expect in everyday life
   
   
6. Refuse to wait for a promotion

Young workers must be set clear standards and given positive reinforcement when these standards are met. Any problems should be dealt with constructive criticism, without blame.

“If Generation Y feels like it is not succeeding, they will quit.
If they feel they are doing well, they are more likely to stay"

• Younger workers should be given work that has meaning and at least 20 per cent of their time should be given to interesting work.
  
  
• Employers should encourage socialising and bonding in work teams, as well as equality in the workplace.

"The world is changing from a talent perspective, successful businesses will recognise that is very difficult to retain good people ... and they will do something about it," said Murphy.