In today’s modern world of business, it is very useful to find ways to keep top talent from leaving your company. A fun positive work environment where everyone is working together toward the same goal often leads to keeping employees satisfied at their current positions. Offering incentives like profit sharing and reward programs are still as effective today and they were 20 years ago.
Generation X, employee’s born in the mid 1960’s to late 1970’s have entrepreneurial strengths. They are confident and often self motivated. A Generation Y employee, born in the early 1980’s to early 2000’s are technologically savvy and often risk takers.
Knowing what’s important to them along with their natural abilities is just as important as the training and experience they have. You will see on the info graphic they have different communication preferences. Generation X likes to work independently and wants authority in decision making. Hove
ring over these employees will work against you. Generation Y on the other hand prefers regular communication and feedback.
Gen X is about building relationships, selling face-to-face and having phone conversations. They will use technology but won’t replace having meaningful interactions with coworkers and clients. Online meetings, conference calls and work from home policies work very well to retain top talent Generation X employees.
Generation Y, also known as the millennial, thrive in an environment of high demand and high expectations. They are willing to go the extra mile. Stereotypes associated with Gen Y include the preference to work smarter, not harder and the desire for immediate feedback and rewards. Reward them with positive feedback and praise.
Today, 60% of employer’s recognize that offering tuition assistance which is a tax free benefit will also help them retain top talent. It can also strengthen community ties with local universities and school’s such as Olivet Nazarene University’s Graduate School which delivers convenient, quality education for busy adults.
When it comes to business there is one thing I know to be true. People buy from people, not companies. If they like you, they will do business with you. The same is true of an employee. If they like you they will work hard for you and go the extra mile to ensure mutual success. It’s important to make connections with people you trust and understand what motivates them to build a solid team.