Time invested vs. goals achieved
For many managers, it is difficult to hand over the authority of work hours to their employees, but it can be a real driver for success. Companies who demand workers to arrive at a certain time, to work a set number of hours per day and to clock every hour’s task, will come up against some strong protest.
The traditional 9 to 5 is dead
In a world of ever-increasing work flexibility, companies should start to look at the benefits of implementing a more flexible work schedule. As previously mentioned, Gen Yer’s don’t mind putting in the hours to achieve their goals – they just want to be able to choose those hours. Today, a more appropriate philosophy to adopt is to measure productivity based on the goals achieved, rather than how many hours were invested. If you need evidence that this can work, learn how Best Buy used the ‘Results-Only-Work-Environment’ to empower their employees and increase productivity (link outdated).
Performance review cycles
Although these provide an important time for employer and employee to review goals set and goals achieved, soon they will no longer be sufficient. Companies that don’t adapt will be left wondering why Gen Yer’s are leaving as quickly as they came in.
This generation work at a much faster pace and require employers to give constant feedback on their results, allowing them the opportunity to improve. Rather than waiting for performance reviews, companies should look into arranging regular, constructive feedback sessions. In whatever format, Generation Yer’s will expect instant response from their employers and most importantly, genuine praise for their achievements.
Coworking spaces may provide the answer
After understanding the unique characteristics that make up the Generation Y workforce, it is no surprise that coworking has become a global phenomenon. But coworking doesn’t have to be restricted to freelancers and entrepreneurs. Companies can leverage the benefits of coworking spaces (increased flexibility, social interaction, innovative environments), while reducing costs of leasing office space. The deciding factor between allowing employees to work with a flexible and mobile schedule comes down to a matter of trust – and you’d be surprised at the positive impact this could have!
