In the next ten years the workforce will consist of 75% Millennials. Already as consumers they are displaying vastly different behaviours from previous generations changing the face of how businesses operate. Therefore, it stands to reason they will have different expectations from employers too.
How are companies adapting for this new breed of employee that’s forward thinking, connected, unconstrained and uninterested in how things have been done for years. Millennials are not the type to be molded into what companies want and they have a lot to offer. Businesses would be far better off adapting and creating work environments that encourage the development of their skills, as well as finding ways to hold on to that talent.
What are Millennials about and what do they want?
Millennials have a greater level of social and environmental consciousness than previous generations. They are attuned to what they want – which is a connection between what they do and what they value. They look for meaning in their work, want relationships with their bosses, are tech savvy, task oriented and very open to change. They also want feedback, recognition and opportunities to learn. 90% of millennials expect to stay in a job for 3 years or less and are quick to move on to companies that align with their personal values and ambitions. With company loyalty not a high priority, how do organizations hold on to top talent when it comes to millennials?
Key factors to engaging with Millennials
Millennials appreciate coaching and mentoring and the opportunity to build genuine relationships with bosses and senior colleagues. They want to work towards set targets and know that they’ll get support in reaching them and acknowledgement when they do. Most importantly if there are opportunities for further learning and growth, they’re more likely to stay within an organisation than look elsewhere.
One technology that can help an organization achieve better employee engagement is gamification. Millennials are tech savvy and like to stay connected. Gamification uses gaming principles to provide opportunities for self-directed learning that people can do at their own pace. It can support the efforts of on-boarding and mentoring, and also encourages collaboration and friendly competition between departments. When employees complete modules or achieve targets they get instant recognition. And the best part of gamification is that once it is set up, it doesn’t require many resources to maintain.
Another aspect that is important to Millennials is values. They are attracted to companies whose values align with their own. For years it was believed that achieving a work life balance was the responsibility of the individual employee, but now companies are recognising that they also have a role to play. By providing better work environments, with flexible work options and different forms of relaxation, they are finding their staff are more content and more productive.
It is these types of companies that will be far more successful in attracting and retaining top millennial talent and it will be worth it. While many predict that Millennials are the workforce that require the most maintenance, they are also recognised as the most productive.
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The team at Resource On Demand have access to an extensive database of key talent, registering over 8000 professionals each year. To find out how we can support you call us on +44 20 8123 7769 or email@example.com.