July/Aug 2017 LOOKING INTO THE FUTURE


executive insight


By the year 2020, Millennials – also known as Generation Y – are projected to make up half of the United States workforce. As a result, it is critical that employers understand this genera- tion so they can better enable their personal development.


Millennials (born between 1984 and 2002) often are described as culturally diverse and highly educated, with social media, digital technology, the internet and World Wide Web second nature to them. They also expect immediate feedback, accept responsibility, and want to be involved in the decision-making process.


Previous generations – Generation X (born from 1965 to 1983) and Baby Boomers (born from 1946 to 1964) – usually got married at an early age before starting a career. Millennials, in turn, often witnessed this pattern leading to divorce and/or an unhappy career. Today, young people are more focused on getting their career established before marriage and a family.


According to authors from Florida International University, “Baby Boomers resonate primarily with loyalty, work ethic, steady career path and compensa- tion when it comes to their professional lives. Generation X, on the other hand, started shifting preferences toward an improved work-life balance with a height- ened focus on individualistic advancement, stability and job satisfaction. Mean- while, Millennials place an emphasis on producing meaningful work, finding a creative outlet, and have a preference for immediate feedback. Findings also suggest that the introduction of social media has augmented collaborative skills and created a preference for a team-oriented environment.”


Millennials also have a great interest in corporate social responsibility. They look for versatility and flexibility in the workplace, and strive for a strong work- to-life balance. In addition, they stay in touch with their parents and extended family using advanced technology.


There are several things businesses can do to advance the personal develop- ment of Millennials and all of their other employees: 1. Allow flexibility in work schedules, giving employees more time for family and volunteering for causes important to them.


2. Provide time and financial support for educational advancement, which benefits both the employee and company.


3. Commit your business to corporate responsibility. 4. Designate collaborative time for employees to work together and share information.


5. Recognize each employee’s role in making the business a success.


Regardless of age, it is imperative to listen to your employees and to understand their needs. This goes hand in hand with the employee’s commitment to listen to you (the employer) and to be flexible in helping meet the company’s needs.


OFFICERS: Boyd Mitchell


Chairman Bob Sinclair


Vice Chairman Bruce Keim


Past Chairman


EDA DIRECTOR: Ivan Dorhout


DIRECTORS: Todd Barker Scott Beach


Kent Grosshans Clay Haley


Steve Manzer Rock Valley, IA Lenox, IA Grinnell, IA


Central City, NE Carroll, IA


Osmond, NE


Vol. 98 No. 4


Atkinson, NE Sigourney, IA Hamburg, IA


OFFICERS: Don Partridge


Chairman Alex Rueter


Vice Chairman Mark Swedlund


Past Chairman


DIRECTORS: Bruce Bowman Rick Boat


Brian Jansen Nick Sinn


STAFF:


Andrew Goodman Tom Junge


Mark Othmer Donna Miller Will Rogers


Cindy Feldman Julie Taylor


Annmarie McGowan Kari Dostalik


Gretchen Burch David Adelman Tim Keigher


CONTACT INEDA: 8330 NW 54th Ave. Johnston, IA | 50131-2841


E: info@ineda.com | W: www.ineda.com P: 515.223.5119 | F: 515.223.7832 TF: 800.622.0016.


SUBSCRIPTION INFORMATION:


ANDREW GOODMAN President/CEO


2 | The Retailer Magazine | July/Aug


Individual subscriptions are available without charge to Association members. One-year subscriptions are available to all others for $30.00 (6 issues). Contact INEDA for additional information. This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is furnished with the under- standing that the Iowa-Nebraska Equipment Dealers Association, the publisher, is not engaged in rendering legal, accounting, or other professional services. Changes in the law may render the information contained in this publication invalid. Legal advice or other expert assistance should be obtained from a competent professional.


Affiliated with:


President/CEO IA Field Director NE Field Director Operations Manager


Director of Gov’t. Affairs Marketing Director Acct./HR Coordinator Assoc. Svcs. Assist. Editor/Writer


Admin. Svcs. Assist. IA Legislative Director NE Legislative Director


Des Moines, IA Pella, IA


Des Moines, IA Des Moines, IA


Omaha, IA Elkhart, IA Ankeny, IA


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