Generation X and Generation Y now exceed 50% of US workforce, and that percentage is dramatically higher in retail, hospitality and other service industries. Because these younger generations have a dramatically different approach to work and their careers, retailers that manage to engage these groups will have a competitive edge. Jason Ryan Dorsey, known as “The Gen Y Guy®,” shared strategies with tekSESSIONS 2009 attendees on how to make their multigenerational workforce a competitive advantage during his presentation titled, “Crossing The Generational Divide.”
Also categorized as “Millennials,” Gen Y includes the segment of the population born between 1977 and 1995. With 79.8 million members, Gen Y represents the fastest growing demographic in the US workforce. In 2010, Gen Y will encompass the entire 18 to 32 demographic, which represents the prime age groups for retail and hospitality employees.
Illustrating the different approach to work and career, Dorsey said Gen Yers feel “entitled because they have been saved by their parents.” As an example of this entitlement, Dorsey said many have Gen Yers have taken longer to finish college and then wind up moving back home after graduation. Some of the unique attitudes Dorsey highlighted about Gen Y included “a hunger for instant gratification and a desire for ongoing progress.”
While many employers assume that Gen Yers are tech savvy due to their avid use of text messaging and social media, Dorsey pointed out that they are actually “tech dependent and sometimes lacking social skills.” While baby boomers were more career focused, Dorsey said Gen Y values lifestyle and relationships above work.
In suggesting strategies to better engage Gen Y employees, Dorsey stressed retailers should “provide examples of the performance you expect,” as many members of Gen Y lack real world experience. He also suggested companies provide the group with continuous feedback in less than 30 seconds. “Simply stopping by in the hall and saying you did a great job on that project is more important than an annual review,” Dorsey said. He added that accomplishments for Gen Y should be rewarded with “time benefits” rather than gift cards. “Remember Gen X and Gen Y view time as currency,” he said.
