GRAPEVINE, Texas – Remember when you were a “nexter?” Your parents wanted you to cut your hair, get a job and turn down your stereo.
Today, 18 to 30 years olds, collectively known as Gen Y, Echo Boomers or Millennials, are entering the workforce with a new set of parameters; challenging retailers and their older, more tenured employees with a question reminiscent of what the parents of Baby Boomers used to say: How do we deal with them?
Eric Hauser of Swivel Media, had some answers for NACStech attendees on Tuesday. He has another term coined for Gen Yers: the “Teflon generation,” because anything you say to them doesn’t stick, and they have an “overestimation of one’s self worth.” He shared with retailers how “managing the next generation” is not an easy task, but certainly not unattainable, as these future business leaders are here to stay.
Hauser explained a few characteristics of Gen Y employees: they are highly structured, heavily programmed, over-managed, aim to please, are rules-driven, influenced by parents, have a strong sense of community, are tech-savvy, and rule their lives by “instant everything” – waiting for a phone call from the cute girl you met in class doesn’t apply to this generation, thanks to text messaging, social media sites and cell phones.
Gen Yers are the fastest growing segment in the workforce and they cannot be ignored, explained Hauser. In the next five years, there will be 10 million more Gen Yers in the workforce, and by 2010, they will outnumber Gen Xers in the workforce.
So what does it mean? Are employers expected to pamper this age group? Not necessarily, noted Hauser, but as employers (i.e., mentors) there are advantages to spending a little extra time on Gen Y workers.
Gen Yers in the workplace prefer to work in teams, are highly motivated and expect their employers to train them, teach them and act as a hub of resources. Successes should also be rewarded with this age group, and they are motivated to advance quickly and take on new tasks.
And what’s next for Gen Yers? Jokingly, Hauser summed it up: “You may see the first group of four to be president.”
NACStech concludes today. Look for more on the conference in NACS Daily, 24/7: The NACS Blog and in NACS Magazine.