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“Constantly show them career paths”

Some interesting survey results recently about the attitudes of Generation Y employees (defined as those born between 1981 and 1995).

According to RCSI Institute of Leadership the challenges facing the modern workplace are a result of misunderstandings between generations. The old adage of ‘a hard days work for a hard days pay’ has been abandoned by Generation Y – they have a whole new value system.

They want to feel they are contributing to achieving business goals; they want to have career paths to pursue; they are entrepreneurial thinkers who relish responsibility, hate micro-management and are concerned about corporate social responsibility.

According to RCSI, keeping Generation Y employees engaged is valuable because  “those most engaged are 87% less likely to leave a job and are 20% more productive in the workplace”. However their level of engagement is determined by three main factors: how safe they felt in their workplace, how meaningful their job was and how available senior management were to employees.

A 2013 Harvard study found that Generation Y people want to be with companies that nurture their leadership skills, foster innovation and make a positive contribution towards society.

The Harvard survey also found that 75% of millennials said the most important thing when picking a place to work is how well they feel they would fit with the people and the culture. Some 65% listed career potential as the most important factor.

There are some clear messages here, and companies need to focus on:

– Having transparent career paths & career development opportunities
– A compelling corporate mission and culture
– Open management style
– Commitment to social responsibility
– Build your employer brand

* Extracted from an article in the Irish Times by Janet Newenham on 21 November 2014

PS. For tips on navigating some key career hurdles, please click on the appropriate line here:
1. interview preparation
2. panel interviews
3. assessment centres
4. assessment centre: group discussion
5. career change.

PPS. For related Torc case studies, please click on the following links:
1. psychometric tools and interview prep
2. coaching for a panel interview