Never before in American history have there been four generations in the workplace at the same time and even now, the fifth generation, Generation Z, is also heading to work. While the Veteran Generation, Baby Boomers, Generation X, and Generation Y attempt to work together, it’s important to understand how to lead them, what they value and how to keep them from leaving. According to experts in human resources, Generation Y favors mentorship, achievement, socialization, and work/life balance.
Snapshot
This generation was born between 1981 and 1997, but some argue that this period can be expanded to include most of the 1980s and 90s as well as the early 2000s. There are around 80 million in this generation making them the second largest right after the Baby Boomers. They began entering the workplace in the late 1990s and bring many unique characteristics as well as challenges to leaders.
Key Characteristics
Generation Y grew up during a great deal of cultural and societal change. They were exposed to various historical events that influenced them like school shootings, video games, participation awards, the girl’s movement, diversity, early exposure to adult issues, environmental awareness, and safe spaces. They watched Desert Storm on television, turned to Google Search for quick answers, and quickly became used to using social media for socialization.
Other characteristics of this generation include:
- Little fear of change
- Job hopping
- Sense of entitlement
- Highly educated and fast learners
- Practical and dislike waste
- Creative and innovative
- Connected socially, culturally and environmentally
Leading Through Meaningful Mentorship
Prior to Generation Y, leaders have expected their teams to perform based on learning tasks and being trained in traditional ways. It was anticipated that employees would do their jobs well and deliver high quality. This will probably not work with Generation Y, as they question authority and lack trust in authoritative figures. Meaningful mentorship can build relationships and gain the trust that’s needed for them to accomplish their work. Mentorship is the act of sharing authority, power and control of learning and experiencing new things in the workplace. Generation Y wants to be in control alongside their leaders possibly due to the lack of authority in their homes growing up when both parents were working and commuting.
What Motivates Generation Y?
Some studies show that females want to build their careers and move up in their organizations, while males tend to be motivated by social growth. Money matters to them, but not as much as it did to previous generations. They value advancement and free time, making work/life balance an interesting challenge for today’s leaders. They like immediate feedback and will seek multiple jobs until they find the one that fits them best. They want to feel important, respected, and engage in work that is both interesting and meaningful. They are also motivated by flexibility and good relationships.
Other workplace elements that motivate Generation Y include:
- Friendly work environment
- Engaging in team activities
- Engaging in societal, philanthropic, and green projects
Take Away
The workplace is changing because characteristics of society and culture are shaping and influencing new generations who will bring unique and interesting qualities to work with them. There are four and probably five generations working under one roof and while executives are challenged with leading and motivating them, they must first come to know what makes them tick.