Generation X and Y: are you satisfied with your recruiting strategy?

Do you think it is possible to improve upon your recruitment and retention objectives, by understanding your people's motivations, attitudes, and characteristics? If so, it might be a good idea to get to know the generations and discover what makes them tick. Let’s start with the Millennials (aka Generation Y) and Generation X.

Millennials

Those Americans born between 1980 and early 2000s, are referred to as Millennials (aka Generation Y). At first glance, the statistics are not kind to the 'M' crowd. In 2014, the Pew Research Center issued a report in March 2014 about how "Millennials in adulthood" are "detached from institutions and networked with friends." The report says Millennials are somewhat more upbeat than older adults about America's future, with 49% of Millennials saying the country's best years are ahead; however, they're the first in the modern era to have higher levels of student loan debt and unemployment.

Ways to motivate and retain your Millennial workforce:

• Empower your Millennials and give them opportunities for skill enhancement.
• Encourage open communication that leads to career growth and promotional possibilities.
• Practice patience as your Millennial learns and adjusts to a new work environment.
• Help them build confidence through low pressure tactics, and ensure them that you are committed to them for the long run.

Generation Y

What about our Generation Xers, those born between 1965-1980. Consider this: according to the U.S. Census Bureau, Generation X in the United States suffered a 58.77% change in net household worth during the recent recession. That is a large hit to absorb, especially for 30- to 45-year-old workers who are paying mortgages, raising families and funding their children's educations.

Knowing all of this, it's not surprising that their focus lies on remaining employable. To that end, they're educated, technologically savvy, and highly motivated to work. In general, they want to advance as much as possible while still meeting their financial commitments.

Ways to motivate and retain your Generation X workforce:

• Offer the Gen X employee a stable company, and attractive compensation.
• Provide work flexibility, and possible telecommuting options.
• Provide a work/life balance for the purpose of enjoying life now, instead of waiting for retirement.
• Offer additional perks: child care and elder care benefits; stocks, incentive plans, and health benefits are all attractors for this group.

Due to the Baby Boomers reducing their participation in the workforce over the next 10 to 15 years, it is becoming increasingly important for employers to align themselves with a quality recruiting partner. By teaming up with M4 Workforce Solutions, you will have a strategic ally who is devoted to presenting only quality candidates (from all generations) to enhance your company's effectiveness and competitiveness.