Contrary to conventional reporting, younger workers care more about financial security than any other career concern, according to Robert Half Technology.
In fact, 33 percent of Generation Y worker surveyed said that compensation and benefits were their primary career concern, followed by finding and keeping a job (26 percent). Only in third place was career satisfaction (23 percent).
Who is this generation? They are the U.S. cohort born between 1976 and 2001, numbering about 76 million. Their reputation is also huge, with numerous writers claiming this generation has many more differences than others, and employers had better listen up.
Turns out they’re not that different after all.
Managers have spent years reading about Generation Y workers and their desire above all to have interesting work. Generation Y grew up seeing their parents fired from jobs. The lesson they learned was that job loyalty was worthless. Money wasn’t as important as relationships. They wanted work-life balance and the ability to grow personally and professionally while at work.
Well, who doesn’t?
I don’t think Generation Y is that different than anyone else. Now that they are growing up, they seem to be showing the same needs as other generations who came before them.
Furthermore, while Millenials grew up with computers, most professional and skilled workers use computers today. Technology has changed the workplace and everyone’s definition of work with it. Name me a generation that doesn’t want work-life balance, or personal growth, or focusing on what’s useful, or knowing they’re making a valuable contribution to the workplace and society.
The lesson for managers is to be leary about people hawking advice about differences in generations. Yes, there are differences, but think about whether they are that significant. What is more important are the factors that affect all of us.
In case you’re thinking the imminent recession has everyone worried about job security, Robert Half conducted its survey in the second quarter of 2007, when the economy still looked rosy.
Congratulations for your insight into the youth of today. In my research, I’ve found the Gen Ys are much more like the Silents in their views of money, work, and the important things in life, than we ever imagined. This savvy group of workers are concerned about salary, benefits, and most especially work/life balance. Why? Because their parents (primarily the Boomers) coined the phrase “workaholic” and bought their kids stuff in lieu of spending time with them. They are beginning to regret that decision now, and it may not be too late to salvage the relationships, but this young group do not want to repeat the mistakes of their parents.
At some point in our lives, we all in many ways, become our parents. Our basic values and belief systems that we learned from our parents begin to come to the forefront – that is, after we’ve had the opportunity to rebel, to do whatever to set ourselves apart. In other words, it’s a continuing circle of continuity.
By: Linda Thompson on November 13, 2008
at 11:53 am