Jun 3, 2013 | Blog

You Think You Should Run The Company?

Optimize Your Talent Strategy
Engage Your People

One of the big knocks on Gen Y is they think they should be running the company, not running down the block to get Grande Soy Lattes.  For many, running the company is exactly what they are doing. 

 

Where does this desire to throw the career ladder aside and build their own come from? 

 

For one, this generation grew up with an unparalleled emphasis on self-confidence and support from parents, teachers, and coaches. Secondly, Gen Y’ers are making very different life choices (such as getting married later, renting or living with parents vs. buying a home), allowing them to take much more risk with their jobs. Third, hyper-interconnectedness with each other and immediate access to information in the world reduces many barriers to striking out on their own. Finally, this generation has seen several high-profile examples of people in hoodies and jeans running companies whose services they use every day.

 

There is, of course, a need to be realistic here.  Just because their point of view can be explained does not mean that every new college graduates idea should be the basis of discussion for the next board meeting.  Every new college grad doesn’t work at a start-up, either.  Gen Y’ers themselves need to understand how their skill set fits into the organization – this isn’t a total one-way street.

 

However, smart companies - no matter how traditional - are thinking about how they can tap into this zest for ownership within the culture of their own organization.  With this generation set to comprise 75% of the workforce by 2025, human resources professionals can add tremendous amount of value if they can help their business partners figure out how to maximize the productivity and engagement of Gen Y’ers.  Some ideas and practices HR pros can consider include: 

 

  • Give a team of Gen Y'ers responsibility for tackling the most persistent, nagging problem in a department.  Set expectations about timeliness of solution.  Their different way of looking at the world may lead to ideas that others have missed.  At best, you’ve solved a vexing problem.  At worst, you’ve demonstrated some confidence in your future leaders and given them an opportunity to positively impact the business. 
  • Talk about roles in terms of outcomes impacted, not tasks completed.  Gen Y’ers want to feel like they are contributing to a greater cause.  They don’t want to be just be a cog in the machine (does anyone, really?). 
  • Determine metrics that specific employees can “own.”  Gen Y’ers have been measured throughout their lives.  They are used to working to hit a number.  Combine this with their desire for ownership, and you have someone who will happily own an outcome.
  • Give them autonomy in their jobs, but do not confuse that with not providing feedback along the way.  Gen Y’ers like to decide how to do things, but they also crave frequent feedback.

 

What have you found to be effective ways to harness the entrepreneurial zest of Gen Y’ers?

 

Chad Thompson, Ph.D. is leads the Talent Consulting and Assessment Practice at Taylor Strategy Partners, where he consults with clients on a broad range of talent acquisition and talent management issues.  He is based in Ann Arbor, Michigan, but you are more likely to catch him at an airport Starbucks.  Connect with Chad via email, LinkedIn, twitter @TSP_Consulting or give him a call at 734-757-9018.