Issue link: https://read.dmtmag.com/i/173871
Boating Industry AT THE HELM EDITOR-IN-CHIEF: Jonathan Sweet (jsweet@boatingindustry.com) SENIOR EDITOR: Tom Kaiser (tkaiser@boatingindustry.com) MANAGING EDITOR: Liz Keener (ekeener@boatingindustry.com) ASSOCIATE DIGITAL EDITOR: Christopher Gerber (cgerber@boatingindustry.com) SENIOR ART DIRECTOR: Dodi Vessels PRODUCTION ARTIST: Kelsey Houle (khoule@epgmediallc.com) PRODUCTION MANAGER: Angela Schmieg GROUP PUBLISHER: Amy Collins The Millennial wave JONATHAN SWEET jsweet@BoatingIndustry.com WE SPEND A LOT OF TIME in the marine industry talking about reaching that next wave of younger customers. Just as important, though, as preparing for them outside your company is preparing for them inside. Whether you call them Millennials, Echo Boomers or Generation Y, this generation of employees represents an unprecedented shift in the makeup of the workforce. There are some 80 million Millennials (born between roughly 1982 and 2000) in the United States, much larger than Generation X and on par with the Baby Boomers. They are expected to make up about half the workforce by 2014 – up from just 35 percent in 2010. As we all know, we're in an industry that skews older in customers and employees, but that can't last forever. So what do these landmark shifts mean for you? "Millennials have grown up feeling wanted and important and will gravitate to employers who treat them like star players," writes demographer Neal Howe in "Millennials in the Workplace." Howe, a rock star among demographers if there is such a thing, has been studying generational differences and Millennials in particular since the 1990s. Now, broad generalities are just that – broad. Every person is different, but these are some of the key "to-dos" Howe identifies for managing Millennials. Treat them like VIPs – Offer one-on-one attention and develop mentoring programs. Leverage their desire to feel special by demanding more of them. Find them early – Millennials make career decisions earlier than older generations did. Develop relationships with local schools and youth groups to try to attract them to the industry. Offer structure – Millennials want rules, structure and stability. Provide detailed job descriptions and explicit goals with clearly defined responsibilities. Provide tight cycles of feedback – They've been used to constant feedback, so instead of an annual performance review, Howe recommends implementing monthly or even weekly check-ins. Develop policies and systems to give regular, detailed feedback. Don't offer a "McJob" – Unlike Generation Xers, most Millennials say they would prefer to stay with one company for the long-term. Emphasize the long-term growth potential in your company. Talk about ways to advance and other opportunities to improve. Be active in the community – Millennials are participating in community service at higher levels than Xers did at the same age. Give employees the opportunity for community involvement through your company, emphasizing any fundraisers, etc., that you do for schools, youth groups, etc. Take an interest in your success – Boomers resisted being educated by "the system," but their children have embraced it. Offer ongoing training and development so young workers can continue to improve their skills, whether it's sales techniques, service tech classes or customer service improvements. 6 | Boating Industry | October 2013 P06-BI13OCT-AtTheHelm.indd 6 ADVERTISING SALES MANAGER: Kathy Johnson 480-988-3658 (kathyjohnson@boatingindustry.com) SENIOR ACCOUNT MANAGER: Chris Pelikan 954-964-8676 (cpelikan@epgmediallc.com) PRODUCTION SPECIALIST: Cherri Perschmann GROUP SENIOR MARKETING MANAGER: Kathryn Knudson GROUP SENIOR SALES SPECIALIST: Bernadette Wohlman CEO: Mark Adams SR. VICE PRESIDENT/FINANCE AND OPERATIONS: Gerald Winkel SR. VICE PRESIDENT/MARKET DEVELOPMENT: Joanne Juda-Prainito VICE PRESIDENT/OPERATIONS AND HUMAN RESOURCES: Mary Jo Tomei BOATING INDUSTRY (ISSN #1543-4400) is published nine times per year – January, February, March, April, May, June/July, August/September, October/November and December – by EPG Media, LLC, 3300 Fernbrook Lane N #200, Plymouth, MN 55447. Periodicals postage paid at St. Paul, MN and additional mailing offices. SUBSCRIPTION INFORMATION: Free to qualified members of the boating industry. Annual subscription rate is $99 per year for U.S., Mexican and Canadian residents and $149 for residents in other countries. All paid subscriptions must be paid in advance and in U.S. funds only. POSTMASTER: Send address changes to Boating Industry, P.O. Box 5858, Harlan, IA 51593-1358. CUSTOMER SERVICE: Visit www.BoatingIndustry.com, call 866-2383237, email boatingindustry@cdsfulfillment.com or write to Boating Industry, P.O. Box 5858, Harlan, IA 51593-1358. EDITORIAL: All manuscripts, materials, photographs and artwork submitted are at mailer's risk and must include self-addressed envelope with sufficient postage for return. No responsibility will be assumed for unsolicited materials. Boating Industry is a registered trademark of EPG Media, LLC. © 2013 by EPG Media, LLC. All rights reserved. Reproduction in whole or part is prohibited unless expressly authorized by publisher. For more information on e-prints or reprints from Boating Industry, contact Bernadette Wohlman, 800-848-6247 x2464 Printed in U.S.A. PRIVACY POLICY: We recognize that your privacy is very important to you and we're committed to helping you protect it. You should know that we will never intentionally share your name, address and other personal information with anyone for their use if you have asked us not to do so. When you subscribe to Boating Industry, please tell us if you don't want your name and address shared with other reputable companies or if you don't want to receive our marketing offers. We'll mark your account for a three year period so that it will not be selected for products and/or services offers which you've told us you are not interested in receiving. If you change your mind, just get in touch with us and ask that we include you in future offerings. You can ask to not be included in future offerings at any time and it'll be taken care of promptly. Please contact us at Boating Industry Mail Preference Service, P.O. Box 5858, Harlan, IA 51593 or call us at 866-238-3237. Please note that this policy does not apply to e-mail marketing. We will not send you commercial e-mails unless you have authorized us to do so. www.BoatingIndustry.com 9/5/13 11:21 AM