Younger workers more likely to leave, but can be enticed to return
Generation-Y workers are harder to retain, according to a personal development expert, but if you treat them well when they're with you then they're likely to return - with an arsenal of new skills.
Multigenerational understanding is key to retaining staffAccording to Macdonald, understanding what makes Generation Y and other age groups in the workplace tick is key to creating a multigenerational workplace that is successful, and to retaining quality staff.
Identifying the varying needs of each generation is an essential component in creating "an organisation that attracts people to do their very best", she says.
While the gap between the generations is "not that big a deal", she says, each generation seems to engage in the workplace and respond to recognition in slightly different ways.
The way you "lead forward a group of Baby Boomers is going to be ever so slightly different to the way you lead forward a group from Generation Y", she points out.
Baby Boomers respond to milestones, and are often satisfied with the recognition they receive in annual performance reviews, while Generation-Y workers, on the other hand, are far more dependent on regular praise before they can feel engaged in the workplace.
It may also be necessary to tactfully temper the enthusiasm or impatience of these younger workers, Macdonald says.
"As managers of those people we need to help them to understand that all their ideas are great - but just not all at once."
Macdonald notes that ultimately all generations want the same thing out of work, and it isn't money.
"One of the biggest motivators is the sense of being part of the group and that 'what I'm doing is making a difference'," she says.