The Truth About Hiring Generation Y

By 2010, there will be 36 million Gen Yers (born 1978-1994) in the workforce with relative business naïveté and a totally new work ethic. Over the next 20 years, there will be 78 million of them working in the US. Often known as the “what’s in it for me?” generation, this demographic will dominate for the next 70 years. It seems like every article or news broadcast about the “Millennial” workforce portrays this entire generation as bratty, overprivileged job-hoppers who not only believe business casual means no rips in their jeans and t-shirts, but also expect exorbitant salaries and a corner office upon graduating from college. Fortunately for small business owners, these stereotypes are not completely true. In fact, Gen Y workers can be a great asset to your business. The bottom line is that over the course of the next two decades, an average of 10,000 baby boomers per day will reach retirement age. Considering the coming labor shortages, you most likely will have to attract, retain, and motivate these workers if you are to remain a competitive business.

Gen Yers not only bring optimism to any job, they have an affinity for working in teams, thus leading to a more collaborative environment. They have the skills to integrate technology seamlessly into businesses and are connected globally, 24/7. To stay competitive today, big and small companies need employees who are keen, resourceful and resilient and bring fresh ideas to the table. Many Gen Yers aspire to be entrepreneurs because their parents told them that it’s best to be their own bosses, so small businesses are an ideal environment for Gen Yers to become valued contributors. Before you can recruit Gen Y, you must first understand their differences and grasp what makes them tick so you are better able to set expectations for them and help them be successful employees. By separating perception from reality, you can pull the right talent for your business from the Gen Y pool.

Perception:
Everyone under 30 has an inflated sense of entitlement.

Reality:
It is true that many people of Generation Y grew up with Baby Boomer parents telling them how wonderful they are and that the world is their oyster, instilling a feeling of entitlement. From day one, they were praised, coddled and given prizes for every game, even when coming in last place. So yes, they do come across as somewhat spoiled and entitled. Can you blame them?

Over the last few years, the interview process has been changing to a two way street, with the interviewees asking many of the questions. The conversation often turns to what you can do for them, not what they can do for you. This trend is even more pronounced in interviews with Gen Y candidates. Their jaded Baby Boomer parents have armed them with a long list of tough questions, which leaves most interviewers amazed at what an entry-level job applicant will ask. For example, what formal/informal development programs do you have? Will I have a mentor? Do you have flex-time arrangements? How soon can I advance? As a business owner, be prepared to answer their questions directly and honestly.

Like most recent graduates, they may not have much work experience. But their tech know-how gives them the confidence to bring fresh insights to any job. While they may seem forward, they are not asking for anything more than other generations wanted: challenging work, respect for ideas, coaching and feedback, etc. It’s just that this generation will demand it and will walk if they don’t get it.

Perception:
If you invest in their development they will take the free education and use it to go work for your competitors.

Reality:
Members of Gen Y are constant passive job seekers. They are constantly on Facebook, Twitter and various blogs being enticed by possible job opportunities. A friend in one company shares the exciting work he is doing and writes about his cool boss on his blog, and if your employee isn’t happy, he will jump ship. However, one sure way to lose them is not to offer on-going training and development. Gen Y is often referred to as the first generation of lifelong learners. Their expectations are to learn things that may not apply to their current job but to jobs in the future – even at another company.

While there is no way to determine whether they will leave or not, let them know that you realize that this job may not be a lifelong career and they will see you as someone who really understands them. There are no guarantees but if you’ve done everything you could and they do leave, at least you will have gotten the best from those employees while they were with you. The difference between this Gen Y and the Baby Boomers and Gen X is that they are not likely to stay in a position, if they are unhappy and unfulfilled, while previous generations would.

If your Gen Y employees do leave, you want them to leave with a positive impression of your company. One thing is certain; they will blog about their experience. When Gen Yers go on Facebook and other social networking websites, you want them to find rave reviews from your former employees. A future ideal employee may be reading blogs about you.

Perception:
This generation of workers can be characterized by its lack of commitment.