Millennial job seekers just wanna have fun, and employers looking to recruit and retain recent graduates should make workplace fun a “central focus of recruiting efforts,” according to recent academic research.
The findings hold up even at a time when a sluggish economy is leaving many graduates under- or unemployed, says John W. Michel, Ph.D., assistant professor of management at Loyola University Maryland.
In case you missed it, here’s what happened on We Know Next this week.
Contrary to some reports that working just a little bit longer—to age 70—will allow between 80 percent and 90 percent of households to have adequate income in retirement, new research by the nonprofit Employee Benefit Research Institute (EBRI) shows that for approximately one-third of U.S. households between the ages of 30 and 59, that won’t be enough.
Aaron Kesher, Principal Consultant for deepSee Consulting, explains how organizations can flourish by leveraging a workforce with a wide range of age groups.
In case you missed it, here’s what happened on We Know Next this week.
The current Employment Eligibility Verification Form, commonly referred to as Form I-9, expires Aug. 31, 2012. Once it expires, what should employers do? All U.S. employers must complete and retain a Form I-9 for all citizens and noncitizens they hire for employment in the United States, according to the U.S. Citizenship and Immigration Services (USCIS).
Analysis of Generation Y participants—born between 1979 and 1991—in defined contribution plans revealed stronger selection of target-date funds and Roth 401(k) options compared to other age groups, according to data from Fidelity Investments, a large retirement plan services provider.
In the second quarter of 2012, Fidelity analyzed its approximately 11.9 million 401(k) accounts, including 2.2 million Generation Y participants. Among the findings, members of Generation Y were more likely than older participants to:
Summer is underway, and another group of “Trophy Kids” (Gen Y) is preparing to leave their jobs at your local coffee shops and retail stores to join the ranks of the professional workforce. They have big plans and high hopes, but as many twenty-somethings can attest, a diploma doesn’t guarantee success. A few of us have learned the hard way that there are some things that college simply can't prepare us for.
Today’s workplace is experiencing a revolution. Technology and the introduction of new methods of communicating, networking and collaborating have changed the way we do business and have created new challenges for leadership.
It's also a transformative era for the human resources profession. We’ve entered a unique epoch in history where four generations are intersecting in the workplace. Each carries with it deeply held convictions, attitudes, ideas and expectations about the value and meaning of work.
It’s not too late to train youth employed in summer jobs about workplace policies, something employers too often fail to do, according to Jay Zweig, an attorney with Bryan Cave in Phoenix. Training of youth and managers is particularly needed about sexual harassment, workplace safety and hourly restrictions.
Sexual Harassment
Sexual harassment is one of the biggest areas of complaint with all employees, Zweig noted. When youth haven’t been in the workplace before, they might not know how to behave appropriately with co-workers in that setting.
The work culture is gradually changing in many offices as HR departments learn how to meet the needs and desires of Generation Y, those born between about 1980 and 1995.
According to an April 2011 study by BPW Foundation, Gen Y will make up about 75 percent of the world’s workforce by 2025, yet experts claim that many corporate structures are out of sync with understanding what motivates and engages Millennials.
“Each generation imagines itself to be more intelligent than the one that went before it, and wiser than the one that comes after it.” – George Orwell
When your alarm goes off each morning, and you roll out of bed to schlep off to work, you are entering a community that’s unprecedented in human history (even if it doesn’t feel that way on a Monday).
Note: This series is based on the paper My Generation.
Generational and life-stage issues affect us both consciously and subconsciously every single day.
A survey by Lee and Hecht Harrison tells us that “70% of older employees are dismissive of younger workers’ abilities and nearly half of younger employees are dismissive of the abilities of their older co-workers”.
The brains of young people growing up “hyperconnected” to the Internet might be wired differently from those of their elders, suggests a recent survey of technology experts, who were split on whether the newfangled wiring is desirable.
To be successful, young workers need to develop a lot more than job-specific knowledge, experts say. Of the so-called soft skills needed for success in the workplace, communication skills are particularly critical.
The first thing you should know about recruiting Generation Y? According to pioneering generational researchers William Strauss and Neil Howe, workers born between 1982-2000 actually prefer to be called Millennials.
That nuance illustrates the essential element to recruiting and attracting the best Millennial talent -- effective communications that speak to and understand their language and values.
Note: This series is based on the paper My Generation.
Each generation imagines itself to be more intelligent than the one that went before it, and wiser than the one that comes after it. - George Orwell
Generation Y is taking over the world and the workplace—and employers who want to attract, engage and retain this huge workforce need to understand its preferences and communication styles, especially when it comes to workplace benefits.
Generation Y women (born 1978-1994) are concerned about the impact that family and child care decisions will have on their long-term careers, according to a report by the Business and Professional Women's (BPW) Foundation, Gen Y Women in the Workplace.
“In order for businesses to engage successfully with the workforce of tomorrow, it is imperative that they understand Gen Y—what challenges them, what inspires them, what motivates them,” said Deborah L. Frett, BPW Foundation CEO.
