Proper Care and Feeding of Gen Y Employees
Managing younger workers takes some extra work. They’ve had a rough introduction to the job market, and it shows. Many Millennials (aka Gen Y employees) have saved too little and borrowed too much. They’re restless, too, working more different jobs by their mid-20s than prior generations did in their whole careers. It takes special care to recruit and manage this cohort, which by 2014 will outnumber Baby Boomers in the workforce, 63 million to 48 million. "They have different needs, expectations and preferences than previous generations," says Stephen Bygott, director of marketing programs and research at Colonial Life & Accident Insurance Company, which conducted a research report on young workers. "Companies who don't consider changes could risk losing their competitive edge and may be left behind." The report combines industry research along with a recent survey conducted by Harris Interactive on behalf of Colonial Life, in which more than 1,400 workers took part. For more, click here.