There is a great deal of discussion and writing with regard to the generation referred to as “Millennials” or Generation Y. This generation is growing into the largest segment in the workforce, especially as “Boomers” continue to retire in significant numbers.
This important segment of the workforce can potentially bring significant changes to businesses’ operations, recruitment and retention efforts. For those who understand and plan, it can mean a strategic business advantage resulting in improved bottom line performance.
Like every generation before them, at least in western cultures, Millennials are a grouping-by-age of individuals (i.e., a cohort). They are not a monolithic, homogeneous “herd” that have the same values, desires, capabilities or any other characteristic that employers may care about. They have, however, shared many of the same influencing forces during their formative years and those influences do play out in some oft-common perspectives – especially at work.
In Richmond, we are lucky to have one of the leading research companies focused on generational issues, the Southeastern Institute of Research (SIR) – and, their insights are highly enlightening and relevant. CCWA delivers the GenerationsMatter® program for organizations and their employees to identify and understand the similarities, nuances and differences as it applies to the workplace.
Every senior executive, middle manager, human resource professional and talent recruiter needs to understand the impact of the Millennial in the workplace. Some of the key influences of Millenials’ formative years included playing with technology almost from the crib, being complimented constantly by their parents, everyone getting a trophy, 9/11, terrorism and the absence of the Cold War. That’s a big contrast to Boomers similar formative experiences with the Cold War, Vietnam, family TV, the landing of a man on the moon and JFK.
As leaders, we know that there is no better return on investment than investing in our people. Help your team understand the impact of the generational influences in our workplace planning.
An editorial from Mac McGinty, Vice President of CCWA
Richmond Times-Dispatch, March 30, 2015