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Fri, Apr 6, 2012

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Monster 5 for Friday: Gen Y in the Workforce

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WorkplaceWe’ve all heard the stereotypes associated with Generation Y in the workforce: They are tech-savvy and creative, but entitled and often difficult to manage because of their divergent priorities from other generations. Labels aside, human resources executives have realized that hiring this young generation of social media lovers calls for different recruiting strategies. But too often, companies don’t take preventative steps to avoid one of the most expensive data-proven stereotypes of young workers: their high rate of job turnover.

According to a report by Experience.com, Gen Y typically spends just two years at their first job and has job-hopped multiple times in their careers. They’re often frustrated by entry-level tasks, lack of workplace flexibility and red tape. These frustrations illustrate a larger trait of Gen-Y workers: their desire for new and exciting tasks, responsibilities and challenges.

Companies can work to avoid the high cost of turnover by keeping Gen Y’s attention through training and employee development programs. We’ve rounded up the top articles with tips, examples of successful programs, and interesting data on employee growth programs:

5. How do you build the best organization possible? Gilt Groupe’s CEO Kevin Ryan talks to Harvard Business Review about the importance his company places on effective talent management and development

4. Companies often throw money into training programs that fall short because they don’t maximizing the power of their employee’s innate talents. Gallup Management Journal tells you how to make your investment in training pay off.

3. What is the new job dynamic between employer and employee? HR Bartender shares a handy infographic on job monogamy.

2. How is coaching Gen-Y different from mentoring, and why should you use this approach with young talent? Business Insider has the scoop.

1. TLNT tackles the problem of how to retain first-time employees head on.

For more great HR links, check out HR News to Know in our Resource Center.

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