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Gen X and Y at work [AMI Conf / Sydney / Sep 08]

Jason Dunstone
Australian Marketing Institute Government Conference
Sydney, Australia
September 2008

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Gen X and Y at work [AMI Conf / Sydney / Sep 08]

  1. 1. Attracting and retaining the best Workplace Retention Study
  2. 2. What we did Focus groups were conducted with young people, to define areas of concern in retaining staff focussing on professional, science/tech and trade industries An internet based survey was then conducted in September 2007 of 800 employees aged under 40 A thorough cross section of industries was covered – from defence, mining and trades to technology, creative and professional
  3. 3. Why should you care?
  4. 4. Your team
  5. 5. Who’s really happy?
  6. 6. Who’s really loyal?
  7. 7. Only 1 in 20 younger employees are extremely satisfied and extremely likely to be in the same job in three years
  8. 8. What are they looking for?
  9. 9. Challenge Autonomy Learning Creativity Responsibility Management Flexibility Diversity Opportunity Growth People Culture
  10. 10. What makes a happy employee?
  11. 11. 1. Pay and salary package 2. Training and development 3. Responsibility and challenge 4. Employer image 5. Work-life balance 6. Management culture 7. Work environment
  12. 12. What is the priority?
  13. 13. Impact on overall job satisfaction Management Culture
  14. 14. ‘Management needs to take a long hard look at themselves’
  15. 15. ‘It's not just a job or about the money’
  16. 16. Impact on overall job satisfaction Management Culture Responsibility & Challenge Company Image Salary Package Work Environment Training & Development Work-Life Balance
  17. 17. Impact on staff loyalty Management Culture Responsibility & Challenge Company Image Salary Package Work Environment Training & Development Work-Life Balance
  18. 18. Happy Management Culture Responsibility & Challenge Company Image 66% 81% 83% Salary Package 78% Work Environment Training & Development Work-Life Balance 82% 74% 81%
  19. 19. Current employer below average Management Culture Responsibility & Challenge Company Image 35% 42% 55% Salary Package 24% Work Environment Training & Development Work-Life Balance 47% 34% 44%
  20. 20. Top 10 Retention Strategies 1. a management style that you respect [73%] 2. future opportunity for advancement and responsibility [70%] 3. reward for successfully completing complex tasks [68%] 4. places its employees needs as essential to business success [68%] 5. a casual and friendly work environment [68%] 6. has a reasonable view of hours worked in an average week [67%] 7. forward thinking and innovative management [67%] 8. well respected and intelligent managers [66%] 9. trustworthy management [65%] 10. allows working from home [65%]
  21. 21. Top 10 Don’t Care 1. equity of shares in the business [20%] 2. company paid credit card [19%] 3. discount programs [18%] 4. relocation allowance [18%] 5. school fee subsidy [17%] 6. reimbursement expense account [16%] 7. blackberry paid by employer [16%] 8. job share [14%] 9. gift vouchers [11%] 10. no fixed office / mobile office [9%]
  22. 22. The employer of choice …
  23. 23. “They provide their employees with flexibility, a great work environment that encourages creativity and development”
  24. 24. What are the key messages for employers?
  25. 25. 1. Management culture is the greatest area of weakness and has the strongest impact on retention 2. Gen X and Y employees are highly confident and will leave employers unwilling to nurture and provide future opportunity 3. Invest in workplace design that encourages productivity and creativity, career development and other support 4. Employer image is important
  26. 26. But it’s not that easy
  27. 27. A 100% increase in overall job satisfaction will increase staff loyalty by only 27%
  28. 28. Closing quote from the research …
  29. 29. “Staff are unhappy and leaving but management don't seem to care”
  30. 30. For a copy of the full report visit … http://www.squareholes.com/reports/GenXYwork.pdf

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