UBP blog

01/09/2009

Has your company embraced the new technologies and communication tools needed to attract and retain top Generation Y talent?

Generation Y adults and future working adults, drawn from among the individuals born between 1979 and 1999, increasingly view their jobs and a means of building transferrable skill portfolios and leveraging them across various industries and positions.  Unlike Baby Boomers and Generation X employees, these individuals are less likely to be loyal to one company for their entire professional careers. The US government has predicted that by the age of 38, the average Generation Y working professional will have had upwards of 10 to 14 jobs. 

Generation Y workers expect the workplace to be a supportive environment where goals are clearly articulated and feedback is immediately available. They are tech-savvy, voracious researchers with the ability to access a limitless supply of information with the click of a mouse.

Generation Y employees are also financially savvy. A September 2008 survey conducted by Diversified Investment Advisors revealed that 37% of Generation Y workers expect to start saving up for retirement before they turn 25. Further, 49% of Generation Y workers say that retirement benefits are a very important determining factor in choosing a job.

Is your company prepared to address the needs of an increasingly more inquisitive and empowered workforce? Generation Y employees will have many questions about their benefits packages Can your company’s HR Manager answer them with clarity and accuracy?

Findings from the 2007 Career Builder Gen Y at Work survey showed that 87% of hiring mangers and HR professionals say that some or most Generation Y workers feel they are more entitled in terms of compensation, benefits and career advancement than are older generations.  Are you prepared to engage in informed interactions with Generation Y employees about compensation and benefits?

 

The Gen Y at Work survey also revealed that 49% of HR professionals and hiring managers feel that the most pronounced difference in communication between Generation Y workers and those from earlier generations is that Generation Y workers communicate the most via electronic means.

 

The HR in a BoxÔ helps companies embrace the influx of Generation Y workers into the workplace because it integrates the solutions to three key Generation Y expectations: technology utilization, research capabilities and comprehensive benefits information that HR professionals can communicate with ease.

 

Baby Boomers are retiring, and many Generation X workers are opting out of long hours. This leaves Generation Y workers in high demand. The HR in a BoxÔ will help your HR Department manage this rapidly growing pool of diverse human capital with unique needs. 

Universal Benefit Plans brings the HR and benefits-management capabilities of the Fortune 500 firms to small and mid-sized companies. It eliminates manual benefit administration and empowers employees through 24/7 access to comprehensive benefits information with the click of a mouse. The HR in a Box™’s double layer encryption ensures that all your company’s personal data on file is protected an secure. Visit our website and click on the “Products” tab to learn more about how The HR in a Box™ can benefit your company.

               

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