Sunday, June 28, 2015

Life Hacks: Managing & Retaining [Millennial] Employees

It’s time for another edition of the IBM Life Hacks! And as I’m typing this from a plane destined for Las Vegas, about to attend my first SHRM (Society for Human Resource Management) conference, I can’t help but contemplate one of the hottest topics in HR right now – millennial employees. It’s hard to miss the mass amount of news surrounding this controversial generation, and maybe you’re even annoyed by it, but it makes sense to focus on understanding them as they will soon make up 75% of the workforce, even taking on leadership roles in your organization.


Generation Y is the largest, most educated, tech-savvy generation – and with degrees [and debt] in hand, we are entering the job market by the masses … but according to research, we’re not staying long once we land the jobs we so desperately want. This is causing a huge problem for companies, as losing employees is extremely costly.


So what makes this generation different from the rest and what can you do to keep us as productive, loyal employees? Start by understanding the “millennial mindset” and make sure your company fosters an environment where your employees can thrive.


While our parents saw hard work as putting in long hours, millennials believe in quality of work and being rewarded based on results versus time spent … we have the technology to get things done faster than before, so we expect flexibility in our schedules.  We thrive in collaborative environments where ideas come from all levels. We demand transparency across the organization and ongoing, honest feedback. And of course, we want to be working towards goals we believe in and feel as though our interests are supported. 


This is a mindset that older generations are adopting as well – we all want to feel appreciated, be rewarded for hard work and make a difference. It’s with this insight that I offer the June edition of Life Hacks: Managing & Retaining [Millennial] Employees.


from Social Business Insights Blog

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