Managing Millennials: Priorities in the modern workplace

Managing Millennials: Priorities in the modern workplace

Summary: How can the millennial generation be managed effectively in the workplace?

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TOPICS: SMBs
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How can the millennial generation be managed effectively in the workplace?

By 2012, in only eight years, it is estimated that 46 percent of the workforce will be part of Generation Y. This fact has not escaped the notice of businesses and media worldwide -- who often promote certain stereotypes in this age group.

"Tech savvy", although perhaps not too clued up on security or privacy, raised on a steady diet of iThings and mobile technology, young adults born between the 1980's and 2001 seem to have a slightly different take on what they want from the workplace than their older counterparts.

We want flexible schedules, challenges, social freedom and work mobility. The idea of a commuting rat-race and 9-5 job in a cubicle with sallow lighting and the constant thrum of a photocopier buzzing in our ears may not be to anyone's taste -- no matter the age -- but even in a volatile career marketplace, the Generation Y are known for their job-hopping ways. 

But how do you keep them, and preserve the money, energy and time required to train new members of staff? 

The infographic below, provided by UNC's Kenan-Flagler Business School and the YEC, conducted a research project pertinent to this question. 

It appears that social elements are increasingly important for young workers. 64 percent ask about social media policies in job interviews, and stepping away from the digital, 54 percent considered the opportunity to make friends "very important" when accepting an offer. For their own standing in society, 43 percent wanted a job that others respect and value. 

1 in 3 stated they would prioritize social media freedom, device flexibility and work mobility over their paycheck. According to the research, feeling work is "meaningful" and therefore gaining a sense of accomplishment is more important than high pay.

The multi-tasking, mobile generation may not be entirely realistic in their future job prospects -- 70 percent of which saying they would switch jobs "once the economy improves". When this happens remains to be seen, but in the meantime, the generation that will one day run the country seems to need astute handling to stop them hopping to their next post in the hopes of a new challenge. 

generation y workplace keeping them

Topic: SMBs

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3 comments
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  • We want, we want, we want...

    ...well kid, here is what you are going to get if you want to get a pay check from me. Otherwise hit the bricks. Start your own business if you want things run your way.

    The other thing is "tech savvy" doesn't mean what it use to. These kids know how to use a lot of things but nothing at all about how the technology works. Most of them are completely useless as IT workers.
    cornpie
  • They also want service

    they have to realise that that they have to give service as well.

    Many jobs just can't have flexible hours for very good reasons. If you are working in the kitchens of a hotel, hospital, nursing home etc. you have to start at 5 in the morning for a good reason. If you don't, the visitors / patients / residents don't get fed, if they don't get fed, you don't get to keep your job...
    wright_is
  • Different Values

    I love the information in this infographic. The Millennial generation is its own breed in a way, different than generations before. In the workplace this can cause a few misconceptions and contention. Educating Millennials and their managers on the differences in values between the generations can make them be aware and help them develop skills to accommodate each other.The company I work for is studying the challenges Millennials and their managers are seeing in the workplace. We have developed two free assessments that will help illustrate strengths and weaknesses with Millennials and their managers. If you are interested in taking either assessment follow the link:
http://www.redtreeleadership.com/millennials/MillennialResearch.html
    Once you have completed the assessment we will email you a PDF file of your results.
    Red Tree