How do You Retain Generation X Millennial Employees?
First and foremost they are truly interested in happy employees; they try to understand what makes them happy.
Two things are evident:
- The business environment is changing
- Whether or not employees are happy definitely impacts the bottom line.
Organization leaders feel the pressure as 80 million Baby Boomers are getting ready to retire, but only 44 million Generation X Millenials are coming up to fill in the space. The leadership pool appears to be shrinking.
Attitudes of yesterday are changing…
Fading quickly are the thoughts:
- I should be grateful that I have a job.
- There are so many people waiting to take my position.
Coming just as quickly, if not quicker are the thoughts:
- I need to like where I work and what I do.
- Work is more than just a paycheck, I want to make a difference.
- I wasn’t appreciated so I left.
- My job doesn’t feel right, so I am looking for a new one.
- I need to enjoy my work, this job isn’t fun.
The list could go on and on, but what it’s telling us is that companies are recognizing that if employees aren’t happy, if they don’t feel their employment is a “good fit”, they will move on to something else.
How do you appeal to different generations?
Organizations that understand and try to create a positive work environment for each generation will be able to avoid:
- Productivity decreases
- Dissatisfied employees
- High employee turnover
It’s interesting to note that each generation has a different outlook about their jobs or careers.
Baby Boomers grew up with opportunity and possibility, equal rights for everyone and an educated middle class. The job market was highly competitive, as 80 million peers created a “driven” generation.
They worked hard, often with 20 hour work days and proudly wearing company colors. Their ideal was to have fantastic careers embellished with awards, honors and plaques that were awarded because of great statistics backing them up.
GenX-ers lived at a time where things fell apart. During the 1970s and 1980s they watched their parents get laid off without warning, the divorce rate triple, corruption in the leadership of the government and the beginning of latch key kids. X-ers want to be defined by more than their job.
They realize that great achievements and amazing results are not worth the cost of their family or personal health. They understand the concept that “the cheese can be moved without warning” and that they need to be prepared for the next big problem.
Their focus is on careers that are portable to prepare for a cataclysmic event in the future. They will then be ready to take the skills they have developed and move on.