So what do Gen Y want?

Well, what we all want from jobs, but they actually expect it and walk without it.

Accused by Boomers with being demanding and fragile, it’s more that they value feedback and input. It’s not that they are slackers or easily distracted as much as they want to enjoy work, and they value lifestyle and balance. Also, they are on-line a lot. There is a real blur between their social and work lives, both online and offline.

Now, you can’t give them everything that we discuss below: some of these are privileges to be earned, they are not a right. A critical part of managing the young is about controlling their expectations. And managing them well and keeping them with you and productive is rarely about the money.

The specifics:

* They want a workplace where they can belong, which is stress-free and social. One which values the triple bottom line - not just profits, but also the environment and people (socio-economic concerns).
* Make the workplace fun: perhaps a relaxed dress code, fun photo boards/noticeboards, regular celebrations (birthdays, achievements, new clients), supporting their favourite charities etc.
* They don’t respond well to a lot of rules, managers who say “because I said so” or “that’s how we do it here”, who don’t say thank you enough, or sterile, lifeless offices.
* Training that helps their career not just the work they are doing for you; meetings where they can participate, interact - and have some food.
* They value feedback: from handwritten notes or cards (unusual, so it stands out), non-cash rewards (movie tickets, itunes vouchers etc) to formal recognition (certificates, references). Negative feedback? Absolutely; but always constructive, ask permission to give it and do it immediately so it’s relevant.

The reality: There will always be lower retention rates for this generation but it can be improved.

Some tips for improving retention and keeping them for the long haul:

Accessibility: take the mystery out of how you make decisions – the young grew up in smaller families where they were involved in family decisions. They expect it.

Variety: give junior staff greater responsibility and more variety in their work. For example, let them manage a project such introducing a new piece of software; give presentations; and organise staff events (they’ll do stuff they enjoy – get used to it!).

Understand the revolving door: if they leave for a new job, or further study: keep in touch - they may want to return. They rejoin you with new experience plus both sides know each other – great for your productivity. Always allow for the big overseas trip: applies to Australians as well as most European countries: let them go, welcome them back with a gift. The ones that travel are often the very best.

A final comment: young people now travel in packs, with highly developed networks and a strong sense of individual and group identity. They have a strong personal brand. Your employer brand must recognize, accept and embrace this.