At our professional issues updates, the most lively discussion seems to center around the workplace and generational differences. I came across a blog post that offers some tips on how to manage the most studied (and still not understood) generation in history.

The top tips are:

1. Fully engage young workers. They want to be involved in your business and need to know the purpose of their work and how they fit into the bigger picture.
2. Improve retention through incentives. Culturally, they are used to immediate rewards. Think “leveling up” in gaming. They are also aware of the demand for talent, so you need to step them up with money and titles more frequently than most of us are used to.
3. Meet regularly (and give them frequent feedback). They often will avoid conflict but crave feedback.
4. Be true to your culture. Don’t try to fool them or go through the motions of creating a millennial friendly culture. Be honest and work on the areas that you genuinely feel are important.
5. Use training as a retention tool and to fast-track high-potential millennials. They are avid learners and appreciate your investment in their careers (This tip is my own.)

Read the full post, “Learning to Manage Millennials,” at Smart Money.

My bottom line is that you have to listen to their needs and ideas and then look f or the intersection of what your business needs and what they need for the wins. Communication is the key. Finally, don’t do this at the expense of your other generations. Include them in the conversation as well.

We offer in-depth training on this through our Business Learning Institute. This training is available for your company or firm and will be featured live on Sept. 10, 2008 at our Columbia Center, presented by Lin Kroeger, CMC. (She was a big hit at our Business and Industry Conference in May and the Maryland Business and Accounting Expo in June.)

More resources:

• Special section devoted to “pipeline” issues of recruitment and retention can be found on the “Pipeline” tab on our  Town Hall / Professional Issues Web page, including upcoming town hall meetings (four hours of free CPE).
• Get details and register for our program, Leadership and Generations: What are They Thinking?
• Check out Ironing out Generational Differences, an MACPCA podcast with Cam Marston, author of  Motivating the What’s In It For Me Workforce.

Past posts on generations:

• Defining the generations: Who are the millennials?
• The rising rift between Gen X and Gen Y spells trouble
• Top 5 tips to get more CPAs in your firm or company