Here are some things companies can do to ensure that their new generation of leaders wants to stay.
- Offer ongoing training, especially in skills like organization, time management, leadership, and communication. People in Gen X and Y usually love to learn new things, so opportunities to grow are high on their list of priorities.
- Increase non-monetary benefits. Gen X and Y tend to value time as much as, if not more than, money. They have lives outside of work, and spending time with family and having fun are very important to them. Increase vacation benefits and offer flexible working hours. These people are often busy parents who appreciate when a company understands that the traditional 9-to-5 day isn’t always practical.
- Give them freedom. Gen X and Y are often self-reliant and don’t always look to a leader for direction. Their goal is to complete tasks in the most efficient way possible, while still doing them well. So don’t force them to work under a management style that boomers often preferred, with the boss giving orders. Give them the freedom to make their own decisions.
- Earn their loyalty and respect. Gen X and Y may not automatically be loyal to leaders, just because those leaders are in charge. Younger staff want open communication and leaders who are supportive and worthy of being followed.
- Treat women and men as equals. Gen X and Y grew up with mothers who were often focused on their careers as well as their families. They’re used to viewing women and men equally, so be sure to compensate both genders equally. If women feel they’re the target of discrimination, they will quickly move on.
- Be “green.” The new generations have grown up with Earth Day and the threat of global warming. They want to make less of an impact on the environment. Studies have shown that people who work for companies with green initiatives have higher job satisfaction, and turnover is usually much lower.
There’s no doubt that the new generation of leaders has priorities that are often quite different from those of previous generations of leaders.
Companies must create a work environment tailored to the values and priorities of the new generation if they want to hire and keep the best and brightest people, the ones who will lead the company into the future.
Melissa has over 10 years senior level recruitment and consultancy experience and is considered to be one of the best headhunters in the industry.
Latest posts by Melissa Baxter
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