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Younger workers value meaning more than money

The question of what is important to people in their working lives, what it is that keeps them interested in their work and loyal to their organisation, could be said to be at the root of employee engagement. It's no simple question to answer. It appears, though, that different generations may have different priorities.

So-called 'Generation Y', said to be people born between the early 1980s and 2000s, values job fulfilment far above pay, according to a recent survey from the iOpener Institute for People and Performance. The survey found no correlation between pay levels and the intentions of Generation Y respondents to stay on at their current organisation.

It also found Generation Y respondents were much more likely to remain where they were if they believed in their organisation's social or economic purpose, had pride in it, and felt able to recommend it to a friend.

The implications are clear for organisations seeking to attract and retain the best graduates and young professionals. Rather than simply dangling the carrot of pay and reward, employers should think about the nature of their business, their aims and objectives, and the purpose of the work itself. Striving to make these engaging, interesting and meaningful may be a far greater incentive to young talent than traditional remuneration.

Acas can help your organisation with many aspects of employing people, including practical training courses that explore the key issues around Recruitment and Staff retention.

Visit the Acas Training Courses, Workshops and Projects area for more information.

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