Great Recession has changed young workers’ view of corporate America according to recent SBR Consulting study
Posted: 02-15-2010 : CHARLOTTE, N.C.

Charlotte, NC -- SBR Consulting, a Charlotte firm specializing in helping companies attract, retain and reward different generations in the workplace, has just published their first of three studies on how the Great Recession is affecting the Millennial generation (specifically those in the workforce who were born in 1978 or after). The results suggest that due to poor management and poor handling of layoffs, 70 percent of respondents who were laid off would not go back to work for their company and 55 percent are either unsure or do not want to work for corporate America again.

The Millennial generation is in the midst of experiencing their first recession. This experience has caused them to witness a new side of corporate America. The SBR Consulting study, targeting Millennials who were laid off during 2008 or 2009, allows employers to understand how layoffs are changing Millennials’ perceptions, needs and outlook on corporate America.

In years past when older generations were laid off or even fired, they did not talk about it and certainly did not broadcast their experience to the world via social media sites like Facebook, Twitter and LinkedIn. The Millennial generation, however, does share personal information more readily and is not afraid to talk about how their layoff was handled. These conversations and perceptions are then shared with hundreds – possibly thousands - of people via social media.

“The methods that the majority of companies have used to handle their layoffs have been unfortunate for corporate America,” said Stacey B. Randall, founder and chief consultant of SBR Consulting. “While layoffs may be necessary in this economic environment, it’s important that companies treat their employees with respect, dignity and kindness when they cut staff to minimize the negative reaction to the company. The Millennial generation internalizes their experience, which in turn can change their perception about corporate America.”

The study found that early warnings of layoffs and respect throughout the process meant a great deal for Millennials that were subsequently laid off from their jobs.

• 36 percent of those laid off received a warning of layoffs and 34% of that same group felt the company cared about them during the layoff process and left with a positive perception of the company.
• Compare that to the 64 percent of those laid off who received no warning of possible layoff - only 12 percent of this group felt the company cared about them during the layoff process and left with a positive perception of the company.

“The ‘it’s not personal, it’s business’ mentality does not work for this generation who consider layoffs very personal,” said Randall. “Companies need to reconsider their layoff approaches and messages in order to engage, recruit and retain this generation during future growth.

About SBR Consulting, LLC
SBR Consulting, LLC partners with companies to help them manage their number one asset – people. SBR Consulting helps companies improve employee loyalty and engagement, understand generational diversity, and recruit and retain top talent. Founder and chief consultant, Stacey Randall, has spent years researching generations of workers, how companies can better retain talent and understand work – life balance issues. She is an employee retention specialist, member of the World Future Society and the Society for Human Resource Management. In addition to working directly with companies, Stacey also speaks to groups and organizations around the country on human resource issues.

For more information, or to download the complete study: The Recession and the Millennial Generation, please visit www.SBRConsult.com.