What do Gen X and Gen Y demand from employers?

angry-teen.jpg1 … Management culture is the area of greatest weakness yet it has the strongest impact on overall job satisfaction and retention. Generation X and Y employees are demanding a management style that they respect and managers who work with staff in a friendly manner. It is also important that management treat staff as individuals and place employees’ needs as essential to business success.

2 … Younger employees and expatriates working elsewhere believe that management needs to take a long hard look at themselves and take more responsibility in attracting and retain the best. Attempting to shift the blame is viewed as unacceptable.

3 … Disputing the myth that the new generation of employees are about ‘I want it now’, this research illustrates intelligent and ambitious hard workers. They are prepared to wait for financial and other rewards of success, yet are highly confident and will leave employers unwilling to nurture and provide future opportunity for advancement and more responsibility. A career pathway is essential.

4 … Adequate investment in retaining quality younger employees is important. They demand proper selection and training of management, workplace design that encourages productivity and creativity, career training and development and other support. It’s not just a job or about the money. Only one in twenty are extremely satisfied and extremely likely to be with the same employer in three years. With job satisfaction not directly linked with loyalty, the strategic focus should be on minimising the churn.

5 … Strategic focus on the employer’s company image is important. While this did not emerge as one of the top areas impacting job satisfaction, it did have the second largest impact on staff loyalty [following management culture]. It is also the area in which the largest proportion believes their employer is below the industry average [55% believed this]. This should include ensuring the vision/mission engages younger staff, contributing to the community and being a visible and well know employer.

This research was conducted by Square Holes Pty Ltd in partnership with SA Great and the Australian Institute of Management [SA]. The results of the survey were presented at a business luncheon on the 31st of October 2007 at the Hyatt Regency Ballroom in Adelaide. The event also involved a panel discussion facilitated by Phil Speakman, Chairman Morton Phillips, and included:

  • Joanne Fox, Manager, People & Performance, Santos Ltd
  • John Chaplin, Director, Fusion
  • Peter de Cure, People, Performance & Culture Executive Partner, KPMG
  • Jason Dunstone, Managing Director, Square Holes Pty Ltd

The full report can be downloaded from …

http://www.squareholes.com/think/Report070707.pdf