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Five Ways to Connect with Generation X & Y Workers
By Craig Arthur

"As business owners, we now need to create a business that is attractive to both customers and employees." - Craig Arthur

When I speak with business owners about their “Limiting Factors to Growth,” finding and retaining good people is always in the top three.

Last week I was invited to a presentation titled “Managing a Multi-Generational Workforce,” by Rhonda Thorburn, the regional Director for Kelly Services, Australia.

As a rough guide here are the year brackets that determine the generations.

• Silent Generation: Born between 1925 - 1945
• Baby Boomers: Born between 1946-1964.
• Generation X: Born between 1965-1977.
• Generation Y: Born between 1978-1987.
  

How to attract and keep good people is a growing problem for all businesses, across all industries, especially so when we talk about Generation X and Y.

So how do we specifically attract and retain these younger employees?

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"At high altitudes, even the smartest companies are not immune to dizziness and group think." - Jim Champy

A Monday Morning Memo for the Clients and Friends of Roy H. Williams

Hear Memo

You walk into a room, empty but for a table carved from crystal. Girdling the table are 11 other persons whose occupations are similar to yours.

You place ten thousand dollars on the table, your gift to the group. Each of the other 11 does the same. But this is a magic table. You don’t walk away with your own ten thousand. You get the entire hundred and twenty.

And so does everyone else.

The crystal table is a metaphor. Its benefits are real, but the stakes are much higher than a mere hundred and twenty thousand dollars. And you need not bring any cash. Bring instead the things you’ve learned over the years – your failures and successes, your experiments and discoveries, your golden nuggets of experience.

And everyone else will bring theirs. Are you beginning to see the power of a Peer Group?

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"A plan without action is a daydream; action without a plan is a nightmare." - Japanese proverb

When times are good and money is flowing... inefficiencies in business are masked.

Four weeks ago Starbucks announced the closure of 600 of its US stores. That's 12,000 or 7% of it's workforce. Now we hear 61 of its 85 Australian shops will close. A further 685 jobs.

All these closures... just when it looked like all you needed to do was open a coffee shop and profit was your right.

However...
Higher interest rates.
Higher petrol prices.
Higher food prices.

All add up to one thing...  less disposable income.

Big purchases are put off. Small purchases are cut.

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"Whenever you find yourself on the side of the majority, it is time to pause and reflect." - Mark Twain