IN MY VIEW
|
|||
Verna L. Padgett,
|
|||
Return to the Table of Contents |
They are called Echo boomers, Millennius, Nexters, The Net Generation, The Digital Generation or Generation Y and the next generation entering the workforce. Many pierced and tattooed, these young people have high self-esteem and their own set of values. They are fast moving, demanding, strong team players and know more about technology than anyone currently in the workforce. They are different than any generation before them and bring a whole new set of challenges to Corporate America.
Will the policies and practices companies currently use to retain their employees be effective with Generation Y? Research suggests that each generation has a unique set of values and to keep the best and the brightest of Generation Y, companies will have to take a hard look at who their employees are and what motivates them. These 29 million young people are the next emerging workforce and the “one size fits all” approach to employee retention will no longer prove to be effective. This article provides insight into the characteristics of Generation Y, and effective retention strategies targeted for this age group.
As the largest percentage of the population, The Baby Boomers, approach retirement and an emerging Generation Y, comes of age, the demographics of the workforce is about to experience a dramatic change. Corporate America must ask itself what kinds of changes these young workers’ values and work ethics will bring to the workplace. As the culture of Generation Y begins to develop, these emerging issues will shape policies and practices in America’s workplaces in the near future. This literature review provides insight into the characteristics of four generations that are now in the workplace, specifically, Generation Y and effective retention strategies targeted for this age group.
For the first time in history, there are four distinct and different generations in the workforce, the Veterans, Baby Boomers, Generation X, and Generation Y, which span a range of 80 years, from 1922 to 2004, (Filipczak, et al., 2000). Each new generation brings with them a different set of values than the generation before them, shaped by the life experiences and major events of the era in which they grew up (Cox, 2001). Veterans grew up in a time of economic hardship and are loyal, dedicated, and believe in lifetime employment (Filipczak, et al., 2000). Baby Boomers were raised during economic prosperity and social revolution. Workaholic Boomers invented the 60-hour workweek and civil rights in the workplace (Filipczak, et al., 2000). Work-life balance is important to Generation X who grew up with high divorce rates, single parent families, and the dissolution of the nuclear family (Filipczak, et al., 2000). Generation Y, raised in the world of digital technology are confident, diverse, and civic minded (Filipczak, et al., 2000).
As the workforce becomes more diverse in age, companies will face a challenging environment. The “one size fits all” approach to employee incentives will no longer prove to be effective and employers will need to take a hard look at who their employees are and what motivates them. As the labor pool tightens and turnover rates continue to rise, there will be fierce competition for top performers in Corporate America. Companies will need to take a proactive approach to employee retention if they are to remain competitive in today’s labor market.
Published literature from experts in the field indicates that each generation has unique values and, in the past, company policies and initiatives have been designed with these values in mind. What motivates one generation does not necessarily motivate the next. Relevant literature is cited that describes the characteristics of each generation, their values, work ethics and what retention strategies companies have found successful with each one.
Veterans
According to the U.S. National Health Statistics, Veterans, also known as The Matures, Traditionalist and The Silent Generation, were born between 1922 and 1943 (as cited in Filipczak, et al., 2000) and represents 40 million Americans living today (Strauss & Howe, 1991). Thirteen percent of the current population is over the age of 65 (U.S. Census Bureau, 2001).
This generation grew up during WWII, The Great Depression, the Cold War and witnessed the dropping of an atomic bomb. Men were married at the average age of 23 and women at 20. Ninety-four percent of the women became mothers and stayed home to raise their children (Thinkquest, 2002).
According to Filipczak, et al., (2000) as a result of the hardships this generation had while growing up; this group does not take a job for granted. Veterans believe in lifetime employment, company loyalty, and paying one’s dues (Hatfield, 2002). They are comfortable with hierarchy and have respect toward corporations and those who have positions of power within the company (BDO Seidman, 1999).
A flexible work situation is important to Veterans (Drake Beam Moran, 2000). Other strategies used with this age group include health benefits for part-time employees (Wellmer, 2002) job sharing, and mentoring programs that have a phased retirement (Bolch, 2001).
Baby Boomers
Born between 1944 and 1960, Boomers are the largest group in the workforce and account for 33% of the population (U.S. Census Bureau, 2000). In 1946, at the end of World War II, one baby was born every 17 minutes for 19 years. Most grew up in a nuclear family with a stay at home mom and a working dad (Filipczak, et al., 2000).
This generation grew up in a time of optimism, material wealth, economic growth, and the expansion of American industry (Filipczak, et al., 2000). “They (Baby Boomers) were raised to be independent and to believe they could control their own destinies” (Mitchell, 1998, p.6). Their youth was symbolized by the “Consciousness Revolution” of the Vietnam War era, the quest for “self” and sexual promiscuity (Strauss & Howe, 1991). Baby Boomer women grew up expecting to work or have a career (Mitchell, 1998).
Concerned with civil rights and fairness in the workplace, hey have a respect for work and its potential for improving their lifestyle. According to Hatfield (2002), Baby Boomers are workaholics who arrive early on the job and leave late, seeking out promotions, title changes, and more money. Baby Boomers see job responsibility, autonomy in their job, and feedback from co-workers/supervisors as significant factors in employment (Filipczak, et al., 2000). Larger salaries, compensation plans, job security, and training & development opportunities are effective motivators for this generation (LeBlanc, et al., 2000). Baby Boomers are also interested in pensions and retirement planning, although nearly two-thirds of them plan on continuing to work in one form or another rather than retire (Bolch, 2001).
Generation X
Also known as the Thirteenth Generation and the Baby Busters, Gen Xers were born between 1961-1980 and represent 16% of the total population (U.S. Census Bureau, 2000). There are 44 million Generation X adults in the workforce today (Mitchell, 1998).
According to Management Consultant Ray Conger, Generation Xers come from homes where both mom and dad worked and from families with record high divorce rates (as cited in Dow, 2001). Almost one-half of their Baby Boomer parent’s marriages ending in divorce, and this group grew up in an environment of weekend fathers, joint custody, visitation rights, and were the first generation of latch key kids (Filipczak, et al., 2000). They witnessed their parents lose their jobs due to the downsizing and layoffs of the 1980’s (Cook, 1992). The era in which they grew up was one of high abortion and suicide rates, domestic violence, and violence in the schoolyard (Strauss & Howe, 1991). Generation Xers are cautious and more pessimistic about their future (Mitchell, 1998). They have been raised to speak their minds and believe that their opinion counts (Lankard, 1995).
Generation Xers experienced more time alone because of both parents working and the high divorce rate, and thus developed a sense of self-reliance and independence at an early age. They have a spirit of adventure, are skeptical, media/techno savvy, and able to multitask (Filipczak, et al., 2000). They are well educated and entrepreneurial (Mitchell, 1998). In the past 3 years, 80% of all new businesses were owned by Generation Xers (Hatfield, 2002).
Unlike their workaholic baby boomer parents, Generation Xers are looking more for work/life balance (Hatfield, 2002). They believe there is life outside of work and are more concerned with getting the job done than staying late, coming early or showing up on time. They want to have fun and informality on the job and have a casual approach to authority (Filipczak, et al., 2000).
Generation Xers are in the family building stage of their lives and benefit packages that extend coverage to their children, competitive wages, and time off to spend with their families are motivators for employment (BDO Seidman, 1999). With 72% of women in the 25 to 34 age group working outside the home (Mitchell, 1998) issues such as child and elder care assistance, flex time, and alternative work arrangements are important retention strategies (Cook, 1992).
Generation Y
This cohort, born between 1980 and 2004, are also known as Echoboomers, Millenniums, Nexters, The Net Generation, The Digital Generation and Generation Y. These 70 million young people represent 26% of the total population and 8% of the adult population (U.S. Census Bureau, 2000). This generation is unlike any other in the past. “They are more numerous, more affluent, better educated and more ethnically diverse” (Howe & Strauss, 2000, p.4). One out of three is not Caucasian (U.S. Census Bureau, 2000). In 1999, non Whites and Latinos made up 36% of the population under 18. One out of four lives in a single parent household and three out of four have working mothers (U.S. Census Bureau, 2000).
According to Filipczak, et al., (2000) children of the Baby Boomer generation, have had a life that is very organized and structured by their parents. Baby Boomer parents are very devoted and determined to do the right thing and put a lot of energy into child rearing. These parents believed the world to be a dangerous place. As a result, enrolled their kids in dance, karate classes, computer camps, and weekly soccer matches, allowing for very little unplanned free time. These parents have produced a generation of self-confident young people who expect a highly structured, “me-oriented” environment (Howe & Strauss, 2000). They are adaptable, technologically savvy, multitaskers, efficient, tolerant, goal-oriented, independent, believe integrity is admirable, and have a strong sense of commitment (Douglas, n.d.). They are strong team players and are accustomed to working collaboratively (“What’s Important to Generation Y”, n.d.).
Gen Y is the first generation brought up with digital technology. They have spent their whole lives surrounded by and using, computers, the Internet, email, instant messaging, video games, cell phones, laptops, and video recorders. Today’s students are native speakers of the digital language (Prensky, 2001; Tapscott, 1998).
They are the first generation to be raised with the Internet. The Internet, computers, and interactive technology are changing every institution in our society. And, this is the first time in human history when children are an authority on something really important (Tapscott, 1998, p.32).
According to a Harris Poll conducted for Northwestern Mutual (2001) entitled, Generation 2001:The Second Study, the top three career components that Gen Y felt were important include; doing work that has an impact on the world (63%), having a job that requires creativity (57%), and inspiring their colleagues (52%). Flexible working hours (43%) and having responsibility (40%) were also important factors that Generation Yers were looking for in a job. Only 16 % of the sample felt having a job high in prestige was important and 15% felt earning a high salary was a very important component in their career (p. 51). Fifty-six percent of those surveyed felt they were either very or somewhat likely to start a business of their own or work for themselves (p. 54).
A study done by LeBlanc, et al., (2000) entitled, The Rewards of Work: What Employees Value, found that younger workers placed more importance on career opportunities that any other factor as a source of motivation and less on direct financial rewards. Kathy Pennell (2002) writes that young workers in this generation feel that being treated fairly and with respect on the job are more important for job retention than money. “Money acts as the sole motivator when there is poor leadership” (Pennell, 2001, p.6). Most jobs available to teen workers are minimum wage jobs in the fast food or retail industry and meet none of their expectations. Gen Yers become bored or isolated and are easily lured to another job for a slight increase in wages (Martin & Tulgan, 2001). Companies will have to use “some unconventional tactics” to keep their Generation Y employees from looking for opportunities elsewhere (Chester, 2002).
Why should we be concerned about retention and understanding the various groups in the workplace today? First, the labor pool is shrinking. It is predicted that by the year 2006, two employees will leave the workforce for every one added (Taylor, 2002). Second, as the labor pool shrinks so will the talent. As the Baby Boomers begin to retire, there will be a shortage of employees to fill future managerial and executive positions from the much smaller Gen X cohort (Grensing-Pophal, 2000). Third, there is and continue to be a high demand for skilled workers. Jobs that require college degrees will increase by 20 million (Taylor, 2002) and the shortage of skilled workers could be as high as 6.5 million jobs (McClenahen, 2003). Fourth, the workforce is becoming more diverse. The Hispanic population has become the largest minority group in the U.S. and there is an increase in the number of women in jobs that were traditionally male dominated.
The shortage of workers has caused companies to expand their recruiting base to include people with disabilities and the retired (The U.S. Workforce: A Snapshot, 2003). Companies are also feeling the impact of Generation Y as they enter the workforce and the added challenge of dealing with four distinct generational groups in the workplace (The U.S. Workforce: A Snapshot, 2003). Fifth, the increasing erosion of company loyalty. There is a diminishing faith in organizations by employees today (Taylor, 2002). In a survey conducted by Blessing White (2002), at the May 2001 national conference of the American Society of Training and Development, almost 50 % of employees indicated that morale is poor in their organization and 40 % believe productivity is low or only adequate. The Conference Board, a New York research firm, reports that 50 % of all workers are not satisfied with their jobs (Tejada, 2002). According to Roger Herman, president of the Herman Group, a Greensboro, N.C.-based consulting firm, states that recent studies are showing that 30% to 40% of today’s employees want to leave their present job and are just waiting for the right time (McClenahen, 2003).
Intense competition created by the current labor shortages has driven employers to offer a variety of different incentives to keep their valued employees and attract new ones. With today’s workers spanning four generations, the challenge lies in how companies understand the socio-cultural makeup of the labor market and create retention strategies flexible enough to adapt to all four generations (Aldrich, 2001). The trick lies in offering a wide enough variety to meet the needs of employees from all backgrounds and ages (Hacker, n.d.). As employers look for any advantage to attract and hold onto good workers, they will have to think creatively to “stand apart from the crowd” (Koenig, 1999).
Flexible Scheduling
This retention strategy appeals to different generations for different reasons. Baby Boomers and Gen Xers are looking for more work/life balance and flex-time hours allow them to spend more time with their families. For veterans it can mean working part time instead of retiring completely (Hacker, n.d.). According to the study, 2002 People at Work Survey, conducted by Mercer Human Resources Consulting, Generation Y workers place a high value on flexible working arrangements. In the survey, 83% of those in the 18-24 year old group placed flexibility and promotion before salary as workplace motivators.
Benefit Packages
Expand benefit packages to include employees in all life stages. Baby boomers are looking for pensions and retirement plans (Cook, 1992) while Gen X employees want extended family benefits. Extend benefits to part-time Generation Y employees also. Offer customized benefits packages with flexible spending accounts that allow employees a choice in how they spend their benefit dollars. Dual income families, where partners work at different jobs, can choose health insurance at one company and dental insurance at another. Employees already covered by a family members health plan could choose cash instead of benefits (Turner, 2001). The 2002 People at Work Survey found that Generation Y employees are more interested in flexible spending accounts and pet insurance that long term medical care (Rulison, 2003).
Tuition Reimbursement
Educational assistance not only increases worker's skill levels, it creates a sense of loyalty when an organization makes an investment in its employees. A wide variety of educational options that include: certificate programs, two and four year college credit classes, distance learning, trade association sponsored courses, professional seminars and conferences (Koenig, 1999) should be covered by the organization's tuition reimbursement program. While all employees can benefit from education assistance programs, members of Gen Y and Gen X are lifelong learners and consider education as the key to their success (Martin & Tulgan, 2002).
Training
Considering the mix of employee training sessions is important when planning training as a result of the diversity of age that will be present. Veterans prefer their learning materials in print form, while Gen Yers have grown up around interactive media and expect learning to be a part of their daily lives (Martin & Tulgan, 2001). According to an informal survey conducted at a Public Relations Students Society of America’s conference, the opportunity for growth was ranked number two as a factor of importance in a job (Luporter, 2002). Include training programs that are flexible enough to accommodate all four generational styles (Zemke, 1999).
Feedback, Evaluations, and Job Promotions
Generation Y has been under pressure to excel their whole lives. This attitude is likely to spill over into the workplace and they will demand constant feedback and regular reinforcement. They will not be satisfied with the usual pat on the back and annual performance review (Markley, 2002). Members of this generation needs to know where they fit in the workplace and how important they are to the organization. Frequent feedback allows them to feel comfortable and secure (Siegel, 2002). Nearly 85% of Gen Yers see themselves as hardworking and loyal employees when they see worth in the job they are doing (Markley, 2002). According to the survey, What Employees Value, Generation Y is motivated more by the likelihood of a steady job and the opportunity for a promotion that any other employment condition (Leblanc, Ledford & Mulvey, 2000).
Starting Pay Higher than Minimum Wage
Generation Y grew up with a privileged lifestyle, 75% of those surveyed in a Harris Poll believe they will eventually be able to afford the type of lifestyle in which they were raised (Tillisch, 2001). The survey, Generation 2001: A Second Study found that 68% of Generation Y coming out of college expect to receive a starting salary of $40,000 and under. A third of those surveyed anticipate salaries between $20,000 and $30,000. They are very aware of how much people earn (Tillisch, 2001). Higher wages can prevent the competition from luring away Gen Y employees (Perlik, 2001).
Employee Bonuses
The Teenage Retention and Motivation Study revealed that money is one of the top four reasons a Gen Y employee stays on the job (NGA, 2000). One effective retention strategy for a Los Angeles pizza restaurant has been to tie bonuses to performance. The company employs mystery diners to evaluate its staff. If the employee scores high they receive a quarterly bonus (Perlik, 2001).
Special Incentives and Perks
Create non-monetary rewards that show employees their hard work is appreciated. Store managers in Houston, Texas organized a “bonus hour off” program, where managers pick different employees each week and cover their shift for an hour while the employee takes a surprise hour break (Playfair, 2004). Organizations are offering a variety of special incentives to Gen Y members such as cash rewards to new hires who are on the job for 90 days or Nike shoes to employees that stay at the company for at least six months (Hacker, n.d.).
Public Recognition
Gen Yers have been in the marketing spotlight for most of their lives and thrive on recognition and praise (Pennell, 2000). They crave recognition, so give it often (Chester, 2002).
Casual Dress Environment
Self-expression has been a part of Gen Y all their lives. Employers should think about modifying their dress codes and uniforms to reflect more contemporary styles (Chester, 2002).
A Fun Atmosphere
According to The Retention and Motivation Study, 87% of respondents placed a fun environment in the top 5 reasons to stay on a job (NGA, 2000). An environment that fosters a team mentality builds a teen-friendly culture (Perlik, 2001).
Special Events
Company activities such as Favorite Hat Day, where everyone wears a hat to work (Playfair, 2004) and employees vote on their favorite, help build a spirit of camaraderie, a quality especially important to Generation Y (Perlik, 2001). Gen Y employees can get bored with their job easily and special events like a company movie, where the entire staff closes down shop and goes to the movies, can keep young employees from getting in a rut (Chester, 2002).
Opportunities for Community Involvement
Today’s young people are a socially conscious generation and heavily involved in community service (Martin & Tulgan, 2001). Volunteerism is at a record high due to the involvement of Generation Y (Chester, 2002).
Mentoring
This is a generation that needs to know the reasons for expected behavior. Not only do managers need to explain to Generation Y what to do, they need to communicate to their young employees why it is important (Chester, 2002). Gen Yers need to see the connection to the big picture. Assign mentors to new hires who are willing to answer questions and provide encouragement (Martin & Tulgan, 2001).
Even though each generation is unique, there are common traits that are shared by all, the need to feel valued, recognized, and appreciated. The retention strategies identified in this paper are not unique to one generation. They are strategies desired by all generations of workers in some form or another. As the competition for talent heats up, companies that implement progressive retention strategies will have the clear advantage. When retention becomes a core value for an organization, a climate of trust is developed that builds relationships with employees. By deliberately taking steps to increase employees' job satisfaction, companies can create a culture of retention that captures the strength of all generations.
Aldrich, N. (2001, July/August). Finders-keepers strategies. Parks and Recreation Magazine. Retrieved July 4, 2002, from Illinois Periodicals Online database at http://www.lib.niu.edu/ipo/ ip010715.html
BDO Seidman. (1999, September). Special report: Re-tooling corporate recruitment & retention strategies. Milwaukee, WI: University of Wisconsin, Whitewater.
Blessing White. (2001). Managers report low productivity and moral as changes march on. Retrieved February 22, 2004, from http://www.blessingwhite.com
Bolch, M. (2001, April). The coming crunch. Training Magazine, 38, 54-57.
Brown, B.L. (1997). New learning strategies for Generation X. (Report No. 184). Columbus, OH: Center on Education and Training for Employment. (ERIC Document Reproduction Service No. EDO-CE-97-184)
Chester, E. (2002). Employing Generation Why? Understanding, managing, and motivating your new workforce. Lakewood, CO: Tucker House Books.
Cook, M.F. (1992). AMA handbook of employee recruitment and retention. New York: Amacon.
Cox, B. (1991, July). Diverse Generations. American Society of Training and Development, 2, 4-5.
Douglas, E. (n.d.). Sparking Generation Y. Retrieved March 10, 2002, from http://www.generationwhy.com/Sparking%20 Generation%20why.htm
Dow, W. (2001) Backgrounder in trends in the changing workforce and workplace. Retrieved October 19, 2002, from http://www.vsi-isbc.ca/eng/hr/doc/rod_sept26_trends.doc
Drake Beam Moran. (2000). Career choices and challenges of younger and older workers. New York. NY: DBM.
Filipczak, B., Raines, C., & Zemke, R. (2000). Generations at work. New York: American Management Association.
Gordon, J. & Lowe, B. (2002, March). Employee retention: Approaches for achieving performance objectives. Journal of American Academy of Business, 1, 201-205. Retrieved May 27, 2003, from Proquest database http://proquest.umi.com
Grensing-Pophal, S. (2000, July). Who are your “Next Generation” leaders? SHRM White Paper. Retrieved June 25, 2003, from Society of Human Resource Management database at http://www.shrm.org
Hacker, C. (n.d.). Recruiting and retaining “Generation Y and X” employees. Retrieved July 4, 2003, from http://www.chartcourse.com/articlegenxhacker.html
Hatfield, S.L. (2002). Understanding the four generations to enhance workplace management. AFP Exchange, 22, 72-74. Retrieved May 27, 2003, from Proquest database at http://proquest.umi.com
Howe, N. & Strauss, W. (2000). Millennials rising: The next great generation. New York: Random House.
Koenig, D. (1999, August). Tempting with tuition: Reimbursement plans lure workers. Dallas Business Journal. Retrieved February 22, 2004 from Biz Journals database at http://www.bizjournals.com
Lankard, B.A. (1995). Career development in Generation X: Myths and realities. (Report No. CE 070 190). Columbus, OH: ERIC Clearinghouse on Adult, Career, and Vocational Education. (ERIC Document Reproduction Service No. ED 388 801).
LeBlanc, P.V., Ledford, G.E., & Mulvey, P.W. (2000). Rewards of work: What employees value. Scottsdale, AZ: WorldatWork
Luporter, C. (n.d.). What Gen Y-ers are looking for in their first job. Workforce Magazine. Retrieved February 24, 2002, from http://www.workforce.com
Markley, D. (2002, July). Here comes Y. Successful Meetings, 8, 39. Retrieved May 27, 2003, from Proquest database at http://proquest.umi.com
Martin, C. A., & Tulgan, B. (2001). Managing Generation Y: Global citizens born in the late seventies and early eighties. Amherst, MA: HRD Press.
Martin, C. A., & Tulgan, B. (2002). Managing the generation mix. Amherst, MA: HRD Press.
McClenahen, J.S. (2003). The next crisis: Too few workers. Industry Week, 252. Retrieved May 27, 2003 from http://www.industryweek.com
Mitchell, S. (1998). American Generations. Ithica NY: New Strategist Publications.
National Grocers News Release. (2000, August). Survey reveals what’s needed to attract, and keep, today’s teenager worker. Retrieved May 15, 2003, from http://www.nationalgrocers.org/NewsReleases2000/NR2000-22.html
Northwestern Mutual. (2001, April). Generation 2001: The second study (Study No. 13336). Milwaukee, WI: Harris Poll.
Pennell, K. (2001, June). Attracting and keeping the workforce of tomorrow (M300). Paper presented at the American Society of Training and Development 2001 International Conference and Exposition, Orlando, FL.
Pennell, K. (2002). What you should know about the teenage worker. Retrieved October 22, 2002, from http://www.teenageworkforcesolutions.com
Perlik, A. (2001, March). Getting in stride with Generation Y. Restaurants and Institutions Magazine. Retrieved June 23, 2003, from http://www.rimag.com
Playfair. (2004, February). Fun things you can do now. Retrieved February 22, 2004, from http://www.playfair.com/fun.htm
Prensky, M. (2001). Digital natives, digital immigrants. Retrieved March 10, 2002, from http://www.twitchspeed.com
Rulison, L. (2003, September). Gen Y in search of flexibility. Philadelphia Business Journal. Retrieved February 22, 2004 from Biz Journals database at http://www.bizjournals.com
Siegel, J.J. (2002, November). Recruitment is not the same in the new millennium. Airconditioning and Refrigeration Magazine, 217. Retrieved May 27, 2003, from Proquest database at http://proquest.umi.com
Strauss, W., & Howe, N. (1991). Generations: The history of America’s future, 1584 to 2069. New York: William Morrow and Company.
Tapscott, D. (1998). Growing up digital: The rise of the net generation. Taylor, C.R. (2002, Dec). Focus on talent. T+D Magazine, 55, 26.
New York: McGraw-Hill.
The U.S. workforce: A snapshot (2003, February). Training Magazine, 40, 15. Retrieved May 27, 2003, from Proquest database at http://proquest.umi.com
Tillisch, D.L. (2001) Generation 2001 - The Class of 2001, Optimistic Yet Concerned.Retrieved May 27, 2003, from http://www.nmfn.com/tn/about netnm_nr_ gen_2001
Thinkquest Library. (2002). Silent generation. Retrieved October 11, 2002, from Thinkquest database at http://library.thinkquest.org
Turner, M. (2001, February). Flexible spending account may stretch health dollars. Houston Business Journal. Retrieved February 20, 2004, from Biz Journals database at http://www.bizjournals.com
U.S. Census Bureau. (2001). An aging world. Retrieved October 19, 2002, from http://www.census.gov
U.S. Census Bureau. (2000). Population projections of the United States, by age, sex, race, and Hispanic origin: 1995-2050. (CPR P25-1130). Retrieved October 19, 2002, from http://www.census.gov
Wellmer, A.S. (2002, March). Tapping the silver mine. HR Magazine, 47, 26.
What’s important to Generation Y? (n.d.). Retrieved March 10, 2002, from http://www.media3pub.com
Zemke, R. (1999, November). Generational gaps in the classroom. Training, 36, 48-56. Retrieved October 19, 2003, from Infotrac database at http://infotrac-college.thomsonlearning.com
Verna L. Padgett is a doctoral candidate, Cecelia Maldonado is an Assistant Professor, and Sterling Saddler is Associate Professor and Program Chair in the Department of Educational Leadership at the University of Las Vegas, Nevada.