Known as the best breed, the hired Millennials have directed towards positive transformation in the workplace. The population statistics of America are constantly evolving and so as its workforce from time to time. On an official note, the Millennials have now surpassed 75.4 Baby Boomers to 83.1 million, as per the latest US Census. With more number of Baby Boomers touching their retirement age, many millennials are amalgamating with the workforce.
Businesses who want to continue being successful would be sensible to maintain a good stability in managing Millennials’ wagon where they can together explore incredible heights. They are trending marks in work scenario as they have their own distinct motivations, varied takes on life, and different expectations of the world, in comparison with earlier generations. Companies those are hiring Millennials are developing proper employee retention strategies with each passing year.
Why hire Millennials?
A generation born in between 1980 and 2000, attaining their youthful maturity in an early 21st century, are the millennials in the workplace who are strengthening businesses far and wide with their immense productivity. Most of the millennial workforce will be ruling the globe in the next four-five years. They are the big asset to their companies and even the first generation considered proficient in native tech knowledge at their workplace with an excessive display of talent. They excel in the IT-techno world with flair in digital interaction and adept with trendy devices. According to the employee retention strategies carved by the companies, these millennials are the actual future of every kind of workplace who approaches with excellent values and dedication towards the enterprise, and of course, they are far from descending under soon-to-retire group.
Purpose hiring: How to Attract More Millennials
Put a focus on people and purpose: Today’s millennials are eager to be an ingredient part of a company that offers something better. They have an actual purpose behind their working for a well-known organization. They are the growing millennials in the workplace where they pay attention in how the business they’re attached expands its employees and how efficiently they add to the welfare of the society as they play a vital role in its product marketing and profit margin. Such findings should be acknowledged as a wake-up call towards a prosperous business community.
Career progression first, then training program: Being highly bright, the Millennials identify that career progression is more important than a one-day training program. Career progression is a two-way avenue: one where the Millennials as employees partake as well as handle their own careers, and second where they’re the driving force in providing improvements in some experimental ways. When an organization is arranging round-table conferences for a group of leaders along with employees for their development, this will help in drawing the attention of more Millennials.
Exhibit values: Notable companies who demonstrate their values and support their standards have a good opportunity to retain millennials with better talents. For instance, com, a U.S. based cloud computing company offers immense value to a community service; therefore its social obligation has turned out to a wider element of its company culture. The company even presents its employees with matching donations and paid volunteer days. Millennials are enthusiastic to know that the companies they’re attached with are investing accurately in them. As they are loyal towards their organization, they believe that they obtain proper training and lots of encouragement and full support to take up leadership roles in their workplace.
Incentives to boost: Many companies are giving few incentives for managing Millennials continue for a long run. In this way, they are set to enhance the millennial employees in retaining them. Millennial employees tend to be grateful when their companies shower them with gift cards to movie theaters, restaurants, etc which is a sweet gesture to showcase them how much they are concerned about their happiness and interests. They even encourage millennials to take part in wellness activities outside the office, may be in a garden or park or resort. They can even be offered with incentives including office clothing, sunglasses, etc so as to promote their brand, at the same time presenting them with small awards. Once in a week, millennials should be allowed to wear casual dress. Paid-time offs are a great way to boost millennial employees so that they can spend quality time with their family and friends. This would a superb reward to them on reaching quarterly or monthly goals before or on-time.
Flexible schedules: As the opportunities in education are increasing every year, millennials don’t join the workplace so soon, like the earlier generation. In this process of starting work lately, their personal lives may also get affected. So companies are letting their employees spend some extra time with their new families which direct towards quality performance as well as employee retention at the work area. Even they can offer extended leaves for a new parent (mother or father) followed by work-from-home option. They also allow employees to take 2-3 hours break from the office to attend their children’s concert, dance shows or sports events.
Volunteer opportunities: Those companies who care about global causes will most probably gain effectively and further retain the Generation Y members. On hosting events, their employees will be boosted to assist local nonprofit organizations. The millennial employees will be aware of company’s concern for the welfare of the environment and needy people which display taking leadership in such commitments. When the team of employees gets involved in such activities, their self-esteem is further boosted and so as their trust towards the company.
Strong team building: It is essential to have an amazing interaction between the team members. As millennials come from various academic background followed by different careers in the same company, that’s why they should be provided chances to know each other well on professional and personal grounds. This will help the employees to execute together for obtaining a remarkable output of the company.
Thus, from above points, IT enterprises must have understood about the tactics of hiring and retaining Millennials for the betterment of their company.
Sanghamitra Roychoudhary
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