Wednesday, June 24, 2009

Keeping the Millennials

I read a great book by Dr. Joanne Sujansky and Dr Jan Ferri-Reed called "Keeping the Millennials - Why Companies are Losing Billions in Turnover to the Generation and What to do about it"

My knee jerk reaction when I first got the book was to reject it. I thought "in this economy (even though I do see it improving), who would need to worry about recruiting and keeping staff." I thought "poor timing to release a book like this". I also tend to dislike books the categorize people and say all millennials do this or that. I know I am not typical of any group and I think most people are also unique.

But then I got into the book.

I agree that turnover is very expensive for companies. This is often an under rated expense.

I am also a believer that the key to running a successful business is getting people fully engaged so understanding what creates engagement in a generation (and no they are not all the same) is important.

I also see that the current turbulence will actually create a situation where some people will work later in their life so we will now have 4 generations that need to work smoothly together.

And I am energized to think of using the unique characteristics that each generation can offer to build a great company. This diversity will be health if properly harnessed.

Millennials (or generation Y) are an interesting generation (born 1980 to 1999). They suffer from overprotective parents and having things too easy (read The Millionaire Next Door for a prospective on that). They are highly techno savvy. They will embrace multiple jobs and careers in their lifetime. They seek balance in life. They want fast advancement.

I liked the section that compared the Boomers (that would be me) to the Millennials. Even though I reject being categorized, I certainly saw myself with many Boomer qualities. Boomer focus on work ethic and Millennials focus on getting the job done - perhaps I can learn something. Work less, accomplish more. After all, effectiveness is really the goal.

I really liked the section on how to onboard millennials and how they learn. These were good concrete ideas that are actionable.

And of course I liked the view on how Millennials use and interact with technology and the Internet.

Good book. Interesting and well written.

And for those following the home saga - I have a kitchen (just no stove but a microwave and ovens work just fine). So I consider myself officially moved in. That brings me peace.


At 8:57 AM, Anonymous Ian Pratt said...

Hey, it does sound like a good book. It is hard for us generation x people to understand the difference between Baby Boomers and Gen y.

Though I find that if you manage people how they present you will do fine.

How do you feel about the idea that HR strategist need to know more about intergenerational variances than line managers?

At 10:28 PM, Blogger FRANCESCA said...

I'm so glad you have a kitchen now.
I designed my kitchen. The process took three years in the making, sounds crazy but I had to be sure of my choices. I researched everything- from appliances to flooring, counter top etc...If a mistake was going to be made it would be my responsibility and not my cabinet maker. The actual gutting took months, but it was so worth it! They even took pics for a magazine.
In my mind the kitchen is the most important room in the home, a gathering place for famly and friends, the true heart. Glad U have peace.

Now what about the shower? :)

At 2:52 AM, Anonymous Brenda | Trade Marks said...

Book sounds good. Thanks for the review. Well done on the kitchen this has to be my favorite room in the house this is the room that no matter what people friends and family gather, the most in my opinion busiest room ever created. Happy cooking:)


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