Gen Y Workplace Demands Can Help You Retain Boomers On The Verge of Retirement
Hi All,Â
When I conduct seminars about recruiting, managing and retaining Millennials (Generation Y) I am always surprised how many HR people and front line managers comment, “Why do we need to do all these things to accommodate them?”
Well, aside from the fact that we are facing a labor shortage in the U.S. (which I have talked about in previous blogs), many of the things Millennials want from company are things that most all generations will also benefit from. And I’m quick to say that many companies are now stressing out about how to keep their Boomer employees from retiring so soon, and many of the advice I offer about retaining Millennials can also keep your seasoned Boomers around for a few more years (versus choosing to retire the minute they turn 60-65).
Things like an improved rewards and recognition program (a must for Millennials!), flex-time (also a must for Millennials!), creating a “fun” work environment (another must for Millennials!), and a culture that supports team communication (yet another must for Millennials!), are all things that can keep your Boomers from bolting the minute they hit retirement age.
So before you scoff at the advice that people like me, and other experts, are preaching, think about how our info can also improve your Boomer retention. If you combine the Boomer Brain Drain with our lower U.S. population growth, we’re facing a labor shortage of “skilled & educated” employees over the next 15-30 years, so figuring out how to keep your seasoned Boomers for a few extra years past 60-65 will be as critical as attracting and retaining Millennial talent.
Bye for now!
Lisa
Lisa Orrell is The Generation Relations Expert, and has appeared on ABC, MSNBC and NPR (to name a few). She is a speaker, consultant, and author of the book "Millennials Incorporated" (on Amazon). Based on her expertise, Lisa is an in-demand expert who educates well-known companies (such as Cisco Systems, Paul Mitchell, and Blue Cross/Blue Shield) about effectively attracting, recruiting, managing and retaining Millennials (Generation Y). She also conducts popular seminars on how to improve generation relations within the workforce – thus improving communication, productivity and revenue. MEDIA: Contact Lisa for an interesting interview!
April 22nd, 2008 at 5:06 am
Also – 2nd career options is a good one for boomers and Gen Y because it gives employees the option of moving to a different job in the company they might like better. They stay because they are happier with the new work – something different and new. For the boomers – it is something they always wanted to do, but did not stray from their original chosen path. For the Gen Y they may have chosen something they don’t like to do as much as they thought they would so they want to try other things.
May 1st, 2008 at 8:51 am
[...] “Gen Y Work Demands Can Help You Retain Boomers on the Verge of Retirement” on Lisa’s Generation Relations Blog. This is a great post that shows employers how to accomodate all employees based on today’s needs. Her blog is filled with great generational information, but this one is especially great! [...]
May 17th, 2008 at 4:36 am
I’m on the end of the curb of being a Gen Y. I’m 31 and I want a great work environment. When we break things down people are people and they have needs. It doesn’t matter whether we are 25 or 55. A great work atmosphere, recognition program, and flex time should be a must at any job. It’s these extra perks that keep people wanting to come to work.
May 18th, 2008 at 6:36 am
[...] it had better be fun. For Gen Y, work isn’t their identity. It’s just a place. Gen Y sees no reason why a company can’t be more accommodating, offering benefits like the ability to work from [...]
September 7th, 2009 at 10:39 pm
[...] identité, c’est juste un espace et un temps délimité dans leur existence. La génération Y ne voit pas pourquoi une entreprise ne pourrait pas faire des concessions comme de leur permettre de travailler d’où [...]
September 9th, 2009 at 6:54 am
[...] it had better be fun. For Gen Y, work isn’t their identity. It’s just a place. Gen Y sees no reason why a company can’t be more accommodating, offering benefits like the ability to work from [...]