The Firm: Recruiting and retaining young talent

By Scott Lockwood The Daily Record Newswire With unemployment rates over the past two years approaching and hovering closer to the historical record high level experienced in 1982 of 10.8 percent, it would intuitively seem an opportune time to recruit and retain top young, high-performing professionals. While in many professions this may be true, public accounting and other professional service providers continue to struggle with doing precisely that. Today, the young professional has grown up in a much different environment than many of us in the past have; even as little as 10 years difference provides a large gap in what motivates and drives young people into professional service positions today. The Generation Y's, or Millennial Generation as they are often referred to, offer up a different outlook on life and a different outlook on the work experience. It has become more evident than ever that the traditional accounting or law firms need to adapt to this generation's way of thinking or suffer missing out on the top talent emerging from college today. Our Gen Y'ers have grown up with technology at their fingertips, the answers are a Google search away, communication is primarily done electronically through text messages and the immediate response has become expected. These young professionals are adept at multitasking and are looking to stay connected to a continuous flow of information coming throughout the day. They are generally not content sitting in an office for 8 to 10 hours a day disconnected from the most recent viral video, access to the latest news, social media updates or their children's soccer game. A new approach for successful results: Technology Professional service firms more than ever have had to re-evaluate the recruiting approach to target the new generation. This generation needs technology and needs to know that they will be able to use the latest technology to make their professional lives more efficient. The use of laptops to work at home and the smartphone that will allow them to stay in contact with the goings on, not only in the office but in the world, are vital. To attract, retain and engage Gen Y, use new technologies that enable fast and easy online applications, telecommuting or virtual work environments, or that help contribute to work-life balance. Utilize video teleconferencing, webinars, and laptops with wireless access. Technology can be used to encourage group and project-based work. Use technology to build in collaboration, create informal team building exercises, and as leverage for positive public relations for your organization. Flexibility Particularly in the professional service environment where work schedules can be demanding, providing young professionals with a flexible schedule allows them to feel more empowered to manage their day and will ultimately lead to greater efficiency and effectiveness. Gen Y'ers embrace the "work hard-- play hard" type of environment. They absolutely aim to work faster and better than other workers and they don't see the need to be attached to a desk for nine hours a day if they can get their work completed in less time. Providing them the opportunity to work from home and accomplish what they need to will provide them with more fulfillment and satisfaction. Set Expectations Throughout their lives this generation has been given expectations by their parents, teachers and mentors. As more opportunities have arisen for individuals, they have had to prioritize and meet the expectations that have been set for a particular task. Communicating and prioritizing is what they are used to and will provide them with a basis to schedule and prioritize the rest of their busy life. Along with this they want small goals with tight deadlines so they can build up ownership of tasks. They seek out creative challenges and view colleagues as vast resources from whom to gain knowledge. Feedback As times have changed so has the approach to providing feedback and encouraging this generation. They want fair and direct management and leadership that is engaged in their professional development. In the past, feedback, whether in a professional, educational, or competitive environment, was generally focused on what was done wrong or what needed to improve. As times have changed, positive reinforcement and collaborative feedback has become more common. The new generation loves to have feedback; they love to know they are doing well or on the flip side if there is room for improvement. They want to be acknowledged and made to feel like their work is not being taken for granted. They crave making an important impact from the start. These characteristics along with many others drive the new generation of CPAs, attorneys, and other young professionals. It is important that the business owners adapt their recruiting and retention strategies to better fit the new personalities that are entering the workforce. Working with a professional or communicating directly with these new employees will help the company adapt and better understand what changes can be made to attract and retain the top young talent. ---------- Scott Lockwood, CPA, is a senior manager with Mengel, Metzger, Barr & Co. LLP. He may be reached at Slockwood@mmb-co.com. Published: Wed, Jul 27, 2011