Does Your Company Need Gen Y?

Human capital is arguably the most valuable asset of any company. A healthy workforce is an indication of a healthy company, and healthy companies grow, generate profit, and succeed. It's easy for entrepreneurs to allow managing human capital to taking a backseat to other tasks, but as the economic climate turned toward recovery, some attention to retaining and attracting top talent can reap major benefits down a short road.  The current economic environment has provided both challenge and opportunity to companies. Declining sales and profits have forced companies to prune unnecessary costs, including underperforming staff. Some formerly top runners in their industries were forced to close their doors completely, leaving all the top performing talent jobless. Record unemployment numbers may mean extra work for many business owners and HR professionals, who spend days sifting through the piles of resumes submitted for even the most mundane job opening, however this volume also provides companies with an unparalleled opportunity to hire extremely qualified individuals for a fraction of the normal cost. Maybe you know a Gen-Yer, maybe you’ve hired some, perhaps you are one. This emerging workforce, between 18 and 30, is over 76 million strong, and more than twice the size of the 26 million Gen X-ers. sometimes referred to as "The Echo Boomers," they are the largest generation since the Baby Boomers. The youngest Gen Y-ers are still in high school, while the oldest are starting their professional careers and they can be tough to handle in the workplace. They’ve been described as arrogant, lazy and entitled. They have a notoriously high turnover rate and their work habits tend to chafe at the employee handbook based management styles of their Boomer management. So with the schmorgas board of more than qualified seasoned applicants available, do companies need Gen-Y? In a word, Yes. Simple logic dictates that ageing workforces need to be replaced with younger energetic talent, but the advantages go much farther than that. Gen Y employees are hardworking, innovative, creative and oftentimes have a positive outlook. They also have a tendency to blur the line between work and personal endeavors, an asset that, if properly harnessed can produce greater output compared to an older employee with a strictly 9 to 5 outlook. They’re civic minded, and have a global perspective, which can potentially provide valuable PR tools for the growth of your business. They were raised with technology, and are adept multitaskers that enjoy applying technology productively. Yes, Gen Y employees may seem arrogant, but being raised to think critically and empirically and ask questions, they are oftentimes simply reacting to practices they don't fully understand, or see as inefficient. They may not see the issue from a conventional perspective, but they can prove the fresh views and ideas that companies covet and your customers crave. Companies who foster an environment of mutual respect in today's generational workforce will notice the benefits. Smart companies will use this environment to recruit their future Gen Y leaders. In today’s instant information age, successful companies must be able to quickly react and adapt, and Gen Y employees will prove to be an invaluable asset. Companies need Gen Y, and believe me, Gen Y is hungry to work 2009-09-21T20:19:40Z