The Truth About Gen Y: Why Employee Engagement is Essential for Companies
Network For Good has just released the 2014 Millennial Engagement Guide. Check it out today!
Have you heard about the Millennials? According to some, they are a generation of lazy and entitled narcissists (thanks, Time Magazine). Turns out, though, that might not actually be the case. True, they appear more demanding of both recognition and compensation. And the average Gen Y tenure at a company is just two years (compared with five for Gen X and seven for Baby Boomers). But this doesn’t make them disloyal employees, as you might be wont to conclude.
The truth is, there’s a new social contract between employers and workers. Companies can no longer expect eternal loyalty and retention as a thank-you for being hired. Millennials, who in ten years will make up the majority of the workforce, require mentorship, growth opportunities, and useful feedback from their managers. But more than anything, interestingly, Millennials want their careers to drive social impact, not just economic value. In fact, 84% of Millennials prioritize global citizenship above professional recognition.
Read the rest of this article on the Taproot Foundation Blog!