Editor’s note: Sometimes, readers ask about past TLNT articles that they have heard about but may have missed. That’s why every week we’re republishing a Classic TLNT post that some of you have requested.
As I paced back and forth, reviewing one last time what I wanted to say for my closing keynote,“The Hidden Gift Your Gen Y Employees Are Offering You,” my hotel room began to shake.
At first I thought it was a train. Later, I discovered it was a 5.0 earthquake that cleared the Ottawa conference center.
It was also the perfect metaphor about the seismic shift shaking the world of work. And it’s just the beginning.
On the flight home, I reflected on the perfection of this seismic event occurring during a conference titled “How to Attract, Retain, and Engage Generation Y” hosted by Marketing Breakthroughs, an Ottawa, Ontario-based marketing firm.
It was fitting, in part, because of the looming labor shortage facing Canada. According to Steve Klein, CEO of Marketing Breakthroughs, for every two Boomers that will retire, only one Gen Y employee will be available to take their place.
It’s not just that employers will soon have their recruiting world rocked by a growing labor shortage. It’s also the fact that managers are already having their world rocked by their Gen Y or Millennial employees. More specifically, they’re discovering that “old school” management practices and mediocre people skills no longer cut it, if you’re serious about attracting, retaining, and engaging Gen Y employees.
Capturing the fact that “old school” approaches don’t work with this generation, Steve Klein commented about how Gen Y employees chafe under the “micromanaging Baby Boomer manager still using 20th Century management practices.”
His observation reminded me of two assessments made by Bruce Tulgan, author of Generational Shift: What We Saw At The Workplace Revolution:
Over the last several years, I’ve seen the reality of Tulgan’s comments reflected in the laments and requests raised by managers in my seminars. Whenever I ask managers about specific challenges and scenarios they want us to address, I always hear some variation of the following:
Regardless of how accurate you believe such perceptions are, the reality is many — if not most — managers find the approaches that seemed to work in the past (emphasis on the “seemed”) don’t work with their Millennials. They’re painfully aware that their skills related to coaching, giving feedback, and performance management are inadequate for the challenges they face with this generation. They’re also aware that the old “sink or swim” and “plug and play” model of onboarding and managing leads to massive turnover.
Although it’s frustrating for them, I believe their frustration is a good thing.
Here’s why I say that. It actually fits in with the topic of my keynote, which was based on the ERE.net article “The Hidden Gift Your Gen Y Employees Are Offering You.”
If you don’t want to read the full article, here are the key takeaways:
• The ability to learn and grow professionally on the job.
• The belief that their employer is doing good in the world.
• The ability to make a difference at work.
• Being treated with respect.
• Getting feedback not just when you do something wrong, but when you do something really well.
• Getting feedback in a respectful way, rather than being verbally bludgeoned or treated like a child.
• Feeling like their boss cares about them as a person.
2. If they’re unhappy, Gen Y employees are much more likely to leave. With older workers, they’re more likely to quit emotionally and intellectually, while their physical being remains to collect a pay check. If you have any doubts about this, consider Gallup’s research revealing that 74 percent of employees are not highly engaged — i.e. they’re just doing time.
3. Thus, your Generation Y or Millennial employees are like the “canary in the coal mine” with regard to your management practices and organizational climate. They are your early warning sign. They’re the first to let you know if you are doing things that cause disengagement for ALL of your employees. If you’re willing to listen, you can gain invaluable information that can help you improve your ability to attract, retain, and engage talent from ALL generations.
As Millennials comprise an increasingly larger percentage of the workforce, managers at all levels will need to upgrade and refine their skills, both at the macro leadership level and at the micro, conversational level.
Employers who don’t invest in these skills sets will continue to feel the frustrations and costs of not knowing how to attract, retain, and engage this generation. They will continue to pay the price, in the following currency:
Employers who don’t invest in upgrading to 21st Century management practices and skills will be left behind.
This list is not meant as an exhaustive list. To make it manageable, I pulled out nine of what I see as the 20 most critical areas managers need to upgrade. These seven were chosen both because of the impact they can have on employee engagement and performance, and because of how often they’re lacking.
This list is based on a synthesis of:
As you read the list, notice that while some might be especially important for engaging Gen Y employees, they are also important if you want to bring out the best in ALL employees. Also, while these practices have always been critical, they are even more critical if you want your business to thrive in a world that requires:
For each practice, give yourself a grade from A to F, first for skill level and then for how often you implement them.
If you’re serious about your helping your company adapt to the demands of today’s marketplace, don’t just read this article and go back to business as usual. Unless you’re perfect, you spotted practices that either you don’t have the skills to execute, or you have the skills, but haven’t been engaging in them.
For those items you scored yourself low both in ability and execution, learn the skills that will help you execute those practices.
For those practices you believe you have the skills for, but scored yourself low in execution, that speaks to a need to discover how to make them a regular practice, like reading your email.
While both actions take time, think about how you would prefer to spend your time.
Would you like to spend your time dealing with continually hiring and training employees due to high turnover, putting out fires, babysitting, and feeling frustrated, or, becoming the kind of manager that enjoys a high performing, engaged team that makes them feel proud?