Insights

The ABCs of Reaching Gen Ys

Retaining top talent is an ongoing challenge for any organization, especially so when it comes to inspiring loyalty in Generation Y (individuals born between 1982 and 2000), the youngest — and most mobile — group of individuals in today’s workforce. While some guidelines for reaching Gen Ys simply reflect sound communications practice, others are unique to this group. Here are a few communication tips for employers who wish to foster commitment and loyalty in Gen Ys:

Get Their InputGen Ys have a desire to connect. They want to share their opinions and express their ideas, so feedback channels are important to them. For example, if you’re a manager of Gen Ys, take time to ask their thoughts about the company’s latest initiative or their suggestions for improving work processes on your team.

Balance High Touch and High TechUnlike baby boomers and Generation X, Gen Ys crave personal attention and want to be nurtured, so face-to-face communication is important to them. At the same time, they are very technology-focused, so electronic media that offers both instant connection and ease of collaboration are used by them as everyday communication tools. Thus, when designing a strategy to engage Gen Ys, you’ll need to consider channels and tactics at both extremes of the communications spectrum.

Be Clear About Goals and ExpectationsWhile Gen Ys don’t operate well within a patriarchal environment, they do like having a clear understanding of goals and desired outcomes. As a result, they appreciate planning tools, such as agendas, outlines, flowcharts and schedules, so they can be organized, work efficiently and deliver results.

Explain WhyGen Ys aren’t content just following orders. They want to know the context and rationale for what they are being asked to do. So, when directing Gen Ys, be sure to explain what you need from them, the deadline for the assignment and why the particular task is important. With the benefit of this background information, they will see greater purpose and meaning in their work.

Connect Them to Company Goals Because Gen Ys seek jobs that are fulfilling, they need to see how their efforts contribute directly to an organization’s growth and success. Managers play a primary role in communicating this strategic link between individual and company performance.

While these communication tips represent sound practices for dealing with employees of any generation, they are particularly valuable in reaching out to, and engaging, Gen Ys, who come into the workplace with high expectations of themselves — and of their employers.

2010 IRS Retirement Plan Limits

401(k), 403(b), 457(b) Plans
$16,500Annual Deferral Limit (before-tax and Roth contributions)
$5,500Additional Catch-Up Contributions Limit
(age 50+)

SIMPLE Plans
$11,500Annual Deferral Limit
$2,500Additional Catch-Up Contributions Limit
(age 50+)

Annual Limits
$245,000Qualified Retirement Plan Maximum Compensation
$110,000Highly Compensated Employees
$49,000Defined Contribution Plan Maximum Additions (employee + company)
$195,000Defined Benefit Plan Maximum Benefit
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