Baby Boomers have acquired a wealth of knowledge over their years in the workforce, and, as they retire, they will take that intelligence with them. Moreover, the days of having an unlimited supply of talent are diminishing. As the economy recovers and the unemployment rate continues to decline, organizations need to adjust their recruiting strategies to recruit, retain, and ensure the next generation of top talent thrives at their company. How should you motivate the incoming workforce to succeed? Here are five strategies your HR department should reexamine today.
The Class of 2014 was born in the 90s, and likely doesn’t remember the world before the Internet. While this may make everyone else feel old, it is important to recognize that communication has changed drastically, and in order to engage millennials, organizations are going to have to communicate via new channels. Most organizations are already using email and perhaps a message system; while this is a good start, there may be a way to engage Millennials through mobile or social channels as well.
Maybe Millennials don’t remember the world before Google, but, just like you, they want to feel like they are contributing to a bigger goal. The Class of 2014 needs to understand and be aligned with the corporate mission, vision, and goals. Whatever communication channels you choose, be sure that your organization clearly defines and imparts objectives. Allow Millennials to showcase their skills and leadership in achieving these goals.
Training and Mentorship
The Class of 2014 can’t get enough of learning – even though they are fresh out of school, they ranked training and mentorship among the top three factors in deciding where to work. This is great news; organizations that successfully transfer knowledge from experienced Baby Boomers to eager Millennials will have a smoother succession. The Class of 2014 understands the influence that training and mentorship has on their career success, and they’re looking to the leadership at your organization for coaching on how to become qualified.
Career Advancement Opportunities
The Class of 2014 is hungry for training and mentorship opportunities for a reason – in a way, they’re focused on the skills they need for their next job. Career advancement opportunities are another factor that the Class of 2014 considers when deciding where to work. Ensure that managers are providing regular, meaningful feedback so that Millennials can position themselves for advancement. Give managers the tools they need to effectively coach the incoming workforce.
The Right Rewards
When you receive a birthday card from a friend you’re probably pleased, but maybe not surprised. However, if you get a letter from a friend in the mail when you aren’t expecting it, it feels a lot better, doesn’t it? Similarly, when a reward is pre-determined and designated to employees, much like with dated Years of Service awards, the reward holds no meaning. Pre-determined rewards can actually be perceived as hollow or disingenuous. The Class of 2014 appreciates choice, and wants to be rewarded with travel, experience, or items they can choose.
Your organization may experience gaps with Baby Boomers retiring, but the Class of 2014 is eager to learn and make a difference. Make for a smoother transition by equipping your HR department with the knowledge and tools they need to effectively engage Millennials.
Interested in learning more about engaging the Class of 2014? Download our whitepaper.