Baby Boomers are approaching retirement. Employers will soon face the inevitable talent exodus. In fact, the rapidly aging population will result in a steady decline in the number of working-age Canadians in the 2010s and 2020s. Who will take their places?

The rising new workforce called Generation Y  AKA the Echo Generation, Millennials, or Twentysomethings  is waiting in the wings for their chance to become rising stars in your organization. Want to attract the best of Generation Y to your talent pool? You'll need to adjust your talent management strategies to succeed.

There's no question that Generation Y arrives in your workplace with new ideas about the employment experience. Confident and tech-savvy, they enter the workforce with a progressive set of expectations around employment, career advancement, and life/work balance. Labels such as "high-maintenance or "the generation of entitlement may tag members of this group as they begin in the working world.

To attract, engage, and retain these highly educated and diverse Gen Yers, your old "one size fits all approach is not enough. You'll need to segment your recruitment strategies and modify your talent management approach.

Embrace Internet recruiting

This new Web generation has redefined the job search and resulted in new expectations in today's workforce, while the Internet is changing the way employers attract talent. According to a recent research study commissioned by online career website, workopolis.com, 7.6 million working-age Canadians visited online job sites in March 2006. The study also found that more than 40 per cent of working-age Canadians, including Generation Y, now visit Web-based career sites at least once a month - a sharp increase from the 12 per cent who logged on in 2002.

A broader study conducted in April 2006 by Pew Internet and American Life found that the largest Internet user group (approximately 89 per cent) are between the ages of 18 to 29 years old. College and university students have always been well represented among this group since the Internet itself evolved to a great extent out of the academic environment.

Be strategic in your recruiting methods

To effectively prepare and manage your organization to attract the very best among Generation Y, organizations must first identify the key components of a compelling employment opportunity. This will not only help the company's business growth, but will also help to acquire and retain new talent needed to accomplish the company's key business objectives and address the baby boomer exodus.

Here are the top five strategies to steer Generation Y to your organization:

1.      Employ a robust technology platform on your corporate careers site.

How organizations use technologyparticularly the Internethas a significant impact on Generation Y jobseekers' perceptions of the company.  

Tech-savvy Gen Yers won't have patience with poorly designed websites and negative user experiences. If the company's website is sluggish, confusing or provides minimal value to their job search, the company will be perceived as insignificant and undesirable to work for. To attract this group, organizations must use technology effectively to ensure it is seamless and efficient.

Tailoring the information on your web portal or careers website to attract entry-level and Generation Y candidates helps organizations increase their reach, impact, and image. For example, you can employ an online audio podcast presentation that can be downloaded from your company's careers website onto an iPod, mp3 player, or a PC. Think of other popular methods such as a YouTube style video if you're looking to attract younger candidates.

Candidates will more likely get what your company has to say about your focus areas and other topics like workplace culture and benefits. Because of the portability and flexibility of online video and podcasts, the technology provides an opportunity to reach an audience at their convenience - meaning they will be more inclined to listen.

State-of-the-art talent management technology can certainly help to improve your recruitment process and efficiency, but it is also important to ensure personal interactivity in the initial stages. Generation Y expects individual contact and communication, respect and promptness. High self-worth is a Gen Y characteristic and candidates need to feel valued during the recruiting process.

By making interaction with your organization a great experience for the candidate from the onset, Gen Y candidates will be instantly impressed and engaged. A quality website along with direct recruiter interface and an intuitive digital application method will help to accomplish this goal. Without this, employers face the risk of discouraging potential candidates who will quickly move on to the next opportunity if they are not satisfied with the results.

Standing out in a crowd of hungry recruiters can go a long way with Generation Y. Create a reason for candidates to come to you through contests, sponsored events and affinity groups to build a strong referral network and draw interest toward the company. Visiting university and college campuses, and showcasing your organization's commitment to creating opportunities for Generation Y in the workforce will help to distinguish your organization amongst this group.

Generation Y anticipates changing employers to advance their career and are always on the lookout for a bigger and better opportunity. To counteract this attitude, employers must demonstrate rapid career-pathing and internal mobility opportunities. Your internal mobility process should be supported by a centralized talent management solution based on matching skills and hiring manager needs. Optimizing workforce mobility within your organization will improve employee retention rates.

Gen Y lives and breathes in a virtual world and responds well to flexible work schedules, telecommuting, and home-office arrangements. They want a true balance in their lives. They value work-life balance and expect predictable time away from the office - meaning real time off, without the stress of e-mails and client reports looming over their heads.

Generation Yers are results-driven and goal-oriented individuals looking for competitive and compelling employment offers and benefits packages. However, with this group, it is not all about the money and perks. This generation brings some next-gen thinking into the workplace regarding when and how they work.

Long-term sourcing strategies can make a difference

Many top employers are taking a "try before you buy approach to hiring the hundreds and thousands of entry level workers they need every year. Creating internship programs and co-op partnerships with high schools, colleges and universities provide a valuable way to get to know future employees before committing to a permanent hire and also help to brand your organization before they start looking for jobs. Engaging in direct interaction with these groups before they enter the workforce full-time will serve organizations well when Gen Yers are ready to make the transition from the classroom to the workplace.

Considering the significance and growing importance of technology and mobility in the workforce, Generation Yers have the abilities and tech-savvy to fit seamlessly in today's evolving workplace. Understanding Gen Y jobseekers' characteristics, catering to their needs and desires, and applying strategies to satisfy their personal career goals, are key ingredients for a win-win situation in the future.