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Showing posts with label generation y. Show all posts
Showing posts with label generation y. Show all posts

Work/life balance: Key to employee retention

Implementing flexible employee work schedules to foster a healthy work/life balance can be a nerve-wracking and seemingly unattainable goal to achieve. Through experimentation and a little trial and error, many companies have discovered how to retain employees by allowing flexible schedules.

“Inflexible work arrangements are a primary reason top talent leaves an organization.”

The top priority of most organizations is to attract top performers. After bringing them onboard, the real challenge is retaining those bright stars.

An article published last month out of Workforce Management looked at a few recent surveys indicating more employees are actively searching for better work/life benefits.

A 2005 Merrill Lynch survey showed that 16% of the baby boomer workforce was looking for part-time work, and 42% would only sign up for a job that allowed time off for leisure.

Another Pew Research Center survey from 2007 found that more than 50% of working mothers prefer part-time work, as a way to fulfill domestic responsibilities while also contributing to the family income.

Younger workers are also looking for companies that value work/life benefits. Unlike their older counterparts, Gen Y and the Millennials refuse to sacrifice family and leisure for their careers.

The article notes that implementing flexible work arrangements can be difficult, but it is possible. It may be as little as allowing time off for doctor appointments and school visits, or as much as telecommuting a few days out of the workweek.

The Workforce authors surveyed six firms to uncover how they are successfully applying flexible work arrangements.

Here are some of their key findings on the most important factors that contribute to the success of implementing flexible work arrangements at any company:

Alternative work arrangements must make sense for your organization. Not every position or company is suited for flexible schedules. It also depends on the individual, some personalities just can’t handle it. Be sure that flexible schedules will work for specific positions and people before implementing anything.

Remember that the goal of flexible work arrangements is employee retention. “If you want high levels of employee satisfaction, your organization needs to recognize the overlap between life and work.”

Keep communication lines open. “Successful implementation of flexible work arrangements takes a commitment to communication.” Commit to an open and honest line of communication with any flexible employee.

Ensure employees have the tools to succeed. Depending on the type of work, employees may need tools like laptops, cell phones or PDAs to stay in touch and do their jobs effectively. Managers and employees should set clear expectations of how and when an employee can be reached, and also allow for downtime.

Allow for an adjustment period. Self-management can be tough for some employees and may take time to learn. “It takes about three years to adjust for a flexible work arrangement. You need to learn what you should and should not be doing by going through it.”

Put all judgement aside. Working a flexible schedule is not “wrong” or a reflection of the employees dedication to the company. Flexible work arrangements should be considered “without judging the employee’s personal priorities.”

Success depends on employee satisfaction. According to one company surveyed, “for its company to succeed, their people need to succeed - not just at work, but in all areas of their lives.”

“Success takes time and experimentation,” especially when implementing a band new program involving flexible work arrangements. Managers must listen to their employees to determine what is working and what may need to be adjusted, until the program finds success.
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Five ways Gen Y will change the corporate world

Generation Y is leaving their messy college apartments behind and are entering the corporate world. To this new generation of workers, the corporate system is as outdated as dial-up Internet and they have big plans to change the workplace for the better.

After watching their parents overwork themselves to the brink of exhaustion and older siblings struggle with Baby Boomer bosses, Gen Y is ready to take on the workplace and mold it into what they want from it.

How will they manage this seemingly enormous task? A recent post at Employee Evolution, written by a savvy Gen Yer, explains exactly how they’ll do it. Here are some of the most insightful ways they plan on taking on the business world:

1. Meetings will be productive and held only when absolutely necessary. “Efficiency is the name of the game with Gen Y.” Factors of an effective meeting: less than 30 minutes, everyone in the room gets on the same page and it encourages people to get work done.

2. A shorter work day where more is accomplished. Gen Y wants to get the most done in the least amount of time and then get out of the office. Work/life balance is a serious issue with this generation and they will stop at nothing to keep it in tact.

3. Administrative assistants return. Gen Y does not like to waste time addressing envelopes, filling out spreadsheets and filing papers. Give that task to someone else and let them do their job. Worried about the cost? Not Gen Y, they’ll pay the extra money to make it happen.

4. Traditional retirements will vanish. Gen Y does not want to waste their youth sitting behind a desk working themselves to death like past generations may have. They want to use this time to explore what life has to offer, not wait until they’re too old to enjoy it. They’ll figure out how to put away enough money in their 401(k)s while also making time for “mini-retirements.”

5. Say goodbye to performance reviews. Gen Y desires constant feedback and communication. Waiting for a semi-annual performance review just won’t cut it for this generation. Managers will have to learn how to provide constant and ongoing feedback to keep these employees happy.

Gen Y won’t be flipping the corporate world on its head all at once, but rather piece by piece. By the time they make it to upper management, Gen Y plans wants work to be a part of their lives, not something that gets in the way.
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