Gen Y workers (ages 26 and younger) know what they want-in particular, a good work/life balance and ready opportunities for advancement.
But this doesn’t mean that they aren’t a dedicated workforce capable of loyal service. The lessons here come from the restaurant business, but they apply just as well to CPA firms. After all, companies like Starbucks, McDonald’s and T.G.I. Friday’s probably know a thing or two about hiring and keeping Gen Y employees.
Employers can find success in their Gen Y hiring and retention efforts by providing younger workers with three things:
- clear-cut job expectations,
- an explanation of how the employer can help them meet their career goals or support a cause they support, and
- early and frequent performance feedback.
How Gen Y thinks and how to handle it:
Quick Thinkers: Keeping pace with tech-savvy Gen Y means more than finding ways to incorporate online elements into employee training, although that can be a critical component, too. They’re on the go. Their attention span is a little shorter than others. But that’s not to say that they are uninterested in their work. In fact, they already have a tremendous amount of knowledge and perspective on life. So they appreciate short-term projects and shorter lessons. Think short-term, instant gratification. Instead of monthly incentives; think weekly. And don’t forget the public recognition.
Eager Learners: Gen Y is most educated, most passionate, most philanthropic, most entrepreneurial generation in recent memory. The challenge is that their interest in our industry is declining and that there are fewer of them. Relationships-professional or personal-are key for Gen Y. They bring a values system that puts relationships first and quality of life very high on their list. Don’t call it “spoiled.” In fact, they’ve learned from their elders the critical importance of balance. So address Gen Y’s quirks on a small, everyday scale with mentors, with flexibility, opportunity and a clear path for career growth. But then, who doesn’t?
Shining Stars: Great candidates tend to stand out in an interview. But keep in mind a few pointers:
- Look for more than a pulse. If they don’t smile or make eye contact in the first 30 seconds, don’t hire them.
- Ask open-ended questions. Candidates’ answers will help you generate important follow-up questions and identify things that might need to be clarified-by the applicant or by you.
- Don’t, out of nervousness, hog the conversation. Managers don’t always have expertise in hiring. They do all the talking in the interview and they want to brag about themselves and how great their firm is. So they don’t really get a true idea of who the applicant is.
Commitment-Phobes: Gen Y and Gen X workers see little point in staying at a job if they are unhappy and feel unchallenged in their role. In part, the younger generations have their parents to thank for that trait. Gen Y’ers in particular were encouraged to find “the perfect fit” in their selection of everything from childhood activities to a college, and they now seek a similar sense of place in their job.
Additionally, younger workers believe that a résumé demonstrating a variety of skills and accomplishments is the best form of job security. To keep Gen Y’ers around, keep them engaged. Inviting them to participate in a planning meeting or discussing with them the firm’s goals shows commitment to their career development. Let them know what they’re doing is worth something.
Values Seekers: Gen Y workers would rather work for a firm that actively promotes their closely held social values. They are a socially conscious generation. They gravitate toward companies whose guiding principles are aligned closely with their own. Going-green initiatives or a partnership with a local charity will be a draw for Gen Y. Think “pro bono.”
Job-Detail Oriented: The info-at-its-fingertips generation is into specifics. Gen Y job applicants, therefore, appreciate a job description and interview process that conveys:
- The precise duties of the position-if there may be “other duties as needed,” list them
- The number of hours-expressed as a range, not an average-an employee can expect to work each week
- The pay schedule and the timetable for the distribution of work schedules
- The firm’s rules, such as limits on dress codes or on cellphone use in the workplace
- Current-not wishful-thinking-employee benefits and performance incentives
- Time-off policies
- Opportunities for advancement-for example, the potential for an hourly position to lead to salaried job.
- Critical aspects of the firm’s culture-what do current employees enjoy about working for that firm?
Source: Restaurant & Institutions
