By Nilesh Bhagat, CHRP

In July, the McKinsey Global Institute published what it believes to be five game changers for the US economy: opportunities which will leverage economic growth and renewal. Being a graduate not too long ago (and a Gen Yer to give context for my thoughts that follow) one game changer caught my eye—a more effective system of talent development.

While McKinsey describes this opportunity in the context of the US economy, I feel it’s very relevant to us here in Canada. The authors say, “building the skills that lead to readiness for employment, career progress, and the ability to innovate is critical to America’s economic future.” At the root of it all, there seems to a disconnect in expectations when it comes to career development.

A recent CBC News article puts it very well:

For many Canadians under the age of 30 it’s a struggle to find a job, but the even greater crisis is the struggle to find work and start building experience in the career they’ve trained for.

Many sources will say it is Gen Y’s sense of entitlement that stalls the connection with opportunity, but in my opinion, that’s simply a sad excuse on the part of organizations that need to change old ways of understanding, attracting and managing talent. For this to work, there needs to be an openness to connect to expectations – Gen Yers need an opportunity to understand the career development opportunities in the organizations that interest them, while companies need to take into account what is new and different in career development expectations.

When this happens, everyone wins. Employers tap into a wealth of previously unavailable skills and abilities from a new wave of workers and the work-ready demographic has an opportunity to help improve productivity, profits and sustainability.

So what can be done? First, a change of mindset: employers who keep pre-judging the incoming demographic as having a sense of entitlement will suffer the consequences of such rigid thinking sooner than later. You’re only treating one of the largest working demographics available to help you as outsiders – and any social psychologist can tell you how detrimental that is to forging mutual relationships.

Second, and more tactical, is the opportunity to explore the career aspirations of Gen Y. Again, this doesn’t mean assuming every Gen Yer expects to be a chief executive within a week of being hired; rather, it’s understanding how their upbringing, education and acquired skills can translate into career paths that benefit both themselves and the organization.

I’ve had the privilege to explore this area in my work, responding to the feedback of employee groups and addressing the need to clarify and make transparent career paths, opportunities and development. When something as simple as mapping and defining job progression is done, the incoming demographics’ values for transparency, collaboration, integrity and customization are met. On the flip side, it anchors a starting point for companies seeking to understand how existing talent management structures (including career development) can either match or disconnect from evolving expectations.

Any business thinker can explain the importance of evolution and adaptability to the consumer marketplace. The same holds true for the marketplace of careers and opportunities within an organization. Holding onto rigid mindsets and refusing to connect and collaborate with expectations is a formula for extinction – don`t let it be yours.

Nilesh Bhagat, CHRP nileshbhagat@gmail.com) is a rewards analyst with Best Buy Canada’s compensation team.