An article by BWT
Do the terms "millenials", "echo boomers" or "trophy kids" sound familiar? These are just some of the names that have been given to the demographic group more commonly known as Generation Y.
Generation Y are people born between 1977 and the mid 1990's. They currently make up 28% (5.15million) of the population according to the Australian Bureau of Statistics.
Generation Y's views and expectations of work and life have been shaped by early exposure to communications, digital technologies, the media and their parents telling them that they can achieve anything they set their mind to and that education is the key to success.
They are also told from an early age, to live a balanced life and not to let their job jeopardise their ultimate happiness. This attitude towards work can be misconstrued as laziness, arrogance and selfishness.
With a greater knowledge and understanding of generation Ys values and expectations, businesses can focus on management strategies to utilise the talent this generation brings to the workplace.
Employers need to recognise that the corporate world has changed. Employer and employee relationships are no longer based on hierarchal power and long term commitments for long term benefits.
The management style of throwing staff into the deep end to see if they sink-or-swim is a thing of the past. This style of management is being replaced with a more personal hands-on approach. The economy today leaves little room for error.
Hence why managers now have to be pro-active and no longer sit back and wait for things to go wrong. When things start to go pear shaped, it is up to management to step in to provide staff with direction, guidance and the support they need.
By developing a solid teaching relationship with your staff it will allow you to know your team at a deeper level than ever before, identify their strengths and skill gaps, put staff in the right roles and give feedback constantly and consistently for overall improvement.
In summary my tips to managing generation Y staff successfully are:
- To be a mentor and coach
- Get to know them and their capabilities
- Communicate to them the ultimate outcome
- Allow for meaningful contributions
- Let them know what issues are non-negotiable
- Show recognition for a job well done
- Give feedback where improvement is required
With time more and more businesses will realise that what younger workers are asking for is valued by all staff. So don't bury your head in the sand any longer and let your team's talents go unutilised.