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Gen X wants more than paycheck

Date published: 11/1/2009

By JACKIE CROSBY

Star Tribune (Minneapolis)

MINNEAPOLIS

For this, the 120 million members of Generations X and Y have been called self-centered, spoiled, slackers and lacking in motivation. But in the coming decade, 40 percent of America's baby boom work force will be eligible for retirement. And ready or not, employers are going to have to reckon with the workplace desires of the next generation of workers--and customers--if they hope to survive.

"It's going to be the largest turnover in human capital in history, and many organizations are simply ill prepared," said Sarah Sladek, 37, of Limelight Generations. She is a Twin Cities consultant, former journalist and author.

She spoke at a recent event in Minneapolis that focused on sharing strategies for recruiting, retaining, managing and marketing to Gen Xers (ages 28 to 44) and to think ahead about the giant wave of Gen Yers (14 to 27) who will continue to roll into the work force in the coming years.

With unemployment hitting 9.7 percent in September, companies aren't exactly in the hiring mood. But many conference attendees said the talent pool is shrinking, and they're feeling a growing urgency to figure out how to recruit young workers and to keep them in the fold as CEOs of the future.

"Talent sometimes comes through experience from old people like me, but sometimes talent comes from that 18- or 25-year-old," said Pamela Ostrom of Creative Process Consulting. She works with Fortune 500s and mom-and-pops to make businesses work more effectively.

"Companies are going to fall down if they don't understand how to recruit younger talent. Even in a poor economy, where there might be 100,000 people looking for jobs, there may be only be five people who can do the job you need. Maybe the job is so technologically forward that the only people who understand it are Gen X."

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Date published: 11/1/2009