12 September 2005

Revealed: The Secrets to Managing Generation Y

Australia's leading expert on the 4.5 million Australians who make up Generation Y, Peter Sheahan, will conduct a masterclass for Brisbane managers and business owners in November.

Organised by the Australian Institute of Management, the one day masterclass will explore what Gen-Yers are thinking, how to communicate with them and how best to manage them.

AIM Qld & NT CEO, Carolyn Barker AM FAIM, said it was crucial for business to understand how to attract and retain Gen-Y staff.

"Many businesses are finding the management style they've used successfully with older workers isn’t working with Generation Y," Ms Barker said.

"It's an issue that can’t be ignored, especially as the Australian business community struggles to cope with a worsening national skills shortage."

Ms Barker said the voluntary staff turnover rate in Australia jumped to over 11 percent in the last financial year, helping to push up salaries by an average 4.3 percent.

"In a job market where employees can pick and choose, it's more important than ever for business to hold on to key staff.

"That means more effort needs to be invested in understanding young workers and knowing how to motivate them."

The Peter Sheahan masterclass on November 23 will cover how Generation Y is different to previous generations; what management styles work best with this group and cost effective ways to retain young workers.

Mr Sheahan will draw on his own research with more than 100,000 young Australians born between 1978 and 1994, as well as his analysis of international studies on the topic.

As well as lecturing on Generation Y, Mr Sheahan is a best selling author.

His fourth book, 'Generation Y: Thriving (and Surviving) with Generation Y at Work' is the first Australian book about Gen-Y. It was released in June this year.

A Gen-Yer himself, Mr Sheahan was the New South Wales Young Entrepreneur of the Year in 2003.

Need to know more about Managing Gen Y? Book now to attend the masterclass!