Generation X'ers Help Us Prepare For The Y's

Ask Gen-X’ers how they see themselves and they’ll tell you, "independent, competitive and tenacious." Ask them what they want out of life and the answer is a resounding "everything!" As for long-term goals, most will say they want to be independently wealthy and retire within 10 years.

So, who are these so-called Gen-X’ers and how do you manage them? To answer these questions, you must first understand them.

Gen-X’ers are byproducts of the baby boomer generation. They are the latchkey kids born between 1965-77 whose self-serving, impatient, opportunistic attitudes have earned them the title of "Gold Collar Workers." There are 45 million Gen-X’ers — a scary thought when you consider that there are 70+ million baby boomers who will retire in the next 10 years — so much for an easing of labor market demands.

Gen-X’ers are fueled by introspection and driven by the desire to have a sense of purpose and balance in both their work and home life. They don’t want to be divorced and bankrupt like their parents, so they strive to find fulfillment through the experience of life.

They’re X-plorers, X-pressive and X-centric. No doubt, managing Gen-X’ers can be X-pensive!

What X’ers Want. Although independent, they desire to work in a flexible, community-like atmosphere that allows them the ability to quickly obtain financial well being while experiencing self-fulfillment.

Sound demanding? It is! They’re referred to as the "workforce of tomorrow." But wait just a minute — before we follow the over-generalizations that label them as unmotivated slackers and whiners, let’s figure out how to capitalize on their strengths.

Here’s what we recommend:

• Open lines of communication by offering plenty of feedback.

• They only operate under symbiotic relationships, so show them what they are getting for their investment.

• If they are impatient and self-serving, give them a roadmap to success.

• If they lack long-term commitment and loyalty, give them the feeling of ownership and entrepreneurship.

• They have a sense of purpose, so help them connect with the company mission, culture and philosophy.

• Help them achieve the balance needed by recognizing their life outside work.

• They’re independent, so give them the opportunity to manage themselves.

• They live in the information age, so offer lifelong learning.

• They want flexibility, so become more flexible in your management style and let go of traditionalism.

• They desire instant gratification, so offer positions that get immediate results.

• They like self-expression, so give them the chance to define themselves at work, within reasonable limitations.

What Next? First there was Generation-X and now there’s Generation-Y: the teens of today born between 1978-88. This generation is about 60+ million strong and already has the attention of retailers worldwide. They’re far less finicky than Gen-X’ers, proving themselves to be big spenders already. So far, they’ve been shelling out about $140 billion a year on everything from sneakers to Britney Spears CDs. (Gen-X’ers, on the other hand, have only racked up about $125 billion a year in retail sales.)

Before long, Generation-Y’ers will infiltrate the working world and add new challenges to management. What do we know about these teens so far?

They’re the first ones born in a "wired world"...in fact, for many, their first language was Microsoft Word. Their motto is "Have job, will travel." Many of their parents worked at home and all hours. They grew up in an era of downsizing. Their parents were divorced by the time they reached middle school. Yet Generation-Y’ers are more caring than the X’ers. This racially diverse group is very tolerant of different cultures and races.

Gen-Y’ers, like Gen-X’ers, are comfortable with information and technology and prefer to work in environments that are technically savvy. Like X’ers, Y’ers also don’t believe companies when they claim to be "like a family." They grew up in households tempered with fear and the loss of the family’s livelihood because of cutbacks and downsizing. Both groups have, quite rightly, placed their first loyalty to themselves and their own careers.

To capitalize on the strengths of Gen-Y’ers, consider these tips:

• Create a culture that truly reflects care, concern and support through actions and words.

• Be prepared to demonstrate the company’s commitment to people through programs that encourage continuous learning, merit awards for good service and inclusion of family members.

• Communicate about everything from job performance to industry happenings. Say what you mean and mean what you say.

• Position your business to meet the demands of changing technology. Generation-Y’ers will seek out businesses that are technologically sound and cutting-edge in managing information.

• The generational shifts have and will continue to affect both employee and customer relationships. Responding to changing needs of both groups requires ongoing creativity, planning and effort.

Enter Generation-I. After Generations X and Y comes Generation I, according to Bill Gates. Recently, at a speech to faculty and students of New York Institute of Technology, Gates used the term "Generation I" to refer to children born after 1994. He commented that these kids are the first ones to grow up with the Internet and told his audience, "The Web will change Generation I’s world as much as television transformed our world after World War II."

And just how will this generation affect the workplace? Now that’s a question I can’t yet answer. But, yesterday my seven-year-old started her first job baby-sitting...