{"id":2149,"date":"2015-04-23T14:51:46","date_gmt":"2015-04-23T18:51:46","guid":{"rendered":"http:\/\/www.ngenperformance.com\/?p=2149"},"modified":"2015-04-29T17:07:32","modified_gmt":"2015-04-29T21:07:32","slug":"gen-ys-want-you-to-show-them-the-moneysort-of","status":"publish","type":"post","link":"https:\/\/www.ngenperformance.com\/?p=2149","title":{"rendered":"Gen Ys Want You to Show Them the Money\u2026Sort of"},"content":{"rendered":"

We all like getting paid, but the youngest generation is making it a key priority when seeking employment, according to a study by Software Advice– a company that reviews talent management software<\/a>.\u00a0 They analyzed 1,400 responses from\u00a0Gen\u00a0Y\u00a0candidates and evaluated how they responded to the question, “What is most important to you in a job?\u201d<\/p>\n

Salary and benefits led the list at 34%. However it was closely followed by culture and atmosphere (31%) and fulfillment and satisfaction (30%). So, while money is important, it certainly won\u2019t compensate if your workplace environment is poor and if the work Gen Ys are doing isn\u2019t perceived as valuable to them.<\/p>\n

\"what-gen-ys-want-at-work\"<\/a><\/p>\n

Source: http:\/\/new-talent-times.softwareadvice.com\/what-gen-y-really-wants-0414\/<\/a><\/em><\/p>\n

Employee engagement and retention studies for years have reported that salary and benefits are low on the priority list when it comes to keeping and engaging employees. If pay is equitable in your industry, employees are not likely to hop jobs simply for more money.\u00a0 They are often seeking other things as well such as a more supportive manager, variety of work, colleagues they respect and meaningfulness in their role. It\u2019s for that reason that culture and fulfillment will always remain high on any employee\u2019s priority list. When we sacrifice a positive work environment and meaningful work for high pay, we can rarely maintain high levels of engagement.<\/p>\n

Interestingly, the author of the Software Advice study noted that \u201cseveral of those applicants who ranked salary and benefits of lesser importance noted they had previously worked in a high-paying job\u2014and had discovered that money wasn\u2019t everything.\u201d This suggests that life stages, career stages and work experiences can influence our goals and objectives. This may also be the case for achieving a work\/life balance since it only ranked at 4% in this study.<\/p>\n

Early in our careers we may place less emphasis on achieving balance and then shift our focus in that direction as our career and personal lives change. However, we do know from working with thousands of leaders, that their Gen Y colleagues expect and demand a fluid work environment that meets their individual needs right away.\u00a0 It is unlikely that younger employees will stay for long in an organization where they can\u2019t blend their personal and professional lives to some degree.<\/p>\n

As Gen Ys build their careers they may shift their priorities away from compensation which acts as an extrinsic motivator and more towards intrinsic motivators. As discussed in our book Upgrade Now: 9 Advanced Leadership Skills<\/em><\/strong><\/a>, high performing employees and organizations focus their attention on cultivating intrinsic motivation which includes:<\/p>\n