VIP Coaching & Development Services
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07840 858 786
By 2025, 75% of the global workforce will be comprised of Millennials*.
Is your organisation ready to attract them, engage them, and retain them?
or call: 07840 858 586
So, what do organisations need to do – now and during the next few years – to recruit, engage and retain millennials, and help them to maximise their performance at work?
For younger workers, the gap is widening between what millennials believe responsible companies should achieve and what they perceive the actual priorities of a business are. Millennials want them to drive societal and economic change, which presents an opportunity for employers to win back their loyalty.
“A happier workforce means a more productive workforce.
A more productive workforce means more revenue and more revenue
means more reward for our employees.”
KPMG Report: Meet the Millennials
This generation’s experience is of employers prioritising the bottom line above workers, society, and the environment, and four out of 10 feel business leaders are having a negative impact on the world. This perception can have a direct impact on the future success of any organisation. Companies that cultivate a culture and gain a reputation for social responsibility will earn their respect.
For the first time in history, five generations will share the same working environment. With baby boomers eagerly planning their retirement and taking with them years of loyal experience, Generation X will start to make up the larger proportion of the workforce.
Is your recruitment and selection strategy sufficiently targeted towards attracting the aspirations of millennials?
Where an organisation differentiates itself and projects a clear focus on purpose, an engaging culture, and ongoing and flexible personal development, it is far more likely to attract and retain the best talent, with a positive financial outcome.
However, this loyalty must be earned, otherwise millennials will simply move on, which is why they are sometimes referred to as ’Generation Go’.
What keeps these under-35s happy? It is diversity, inclusion, flexibility and fun.
Research indicates that millennials believe that too few business leaders are committed to creating inclusive cultures, so many see the gig economy as an attractive alternative.
Added to this, millennials have increasing concerns about how they can succeed in an Industry 4.0 environment and the impact of artificial intelligence, so young workers are increasingly looking to businesses to help them develop the necessary skills – in particular, the soft skills – they believe will be more important as jobs evolve.
Will your management approach provide the right support?
Where organisations offer a range of management styles including increased collaboration and enhanced communication, millennials will benefit from the attributes they rank most highly.
This includes transparency, building positive working relationships, knowing how the value they add makes a difference, and recognition for their team’s efforts.
This may also manifest itself as groups of people working together to create strategies and solve problems, or an open office layout where colleagues interact easily.
Is your workplace fit for the next generation of leaders?
Today’s leaders need to seize the opportunity – now – to turn the energy and commitment of millennials into their competitive advantage.
Although these young people are often regarded as headstrong and holding firm views on their future direction, they need help to refine their ideas, develop their strengths and harness their ambitions. What they really crave is effective leadership and the right support with their advancement.
Organisations that introduce a mentoring programme right from the outset for their new recruits will demonstrate to them the necessary commitment in their development; reciprocal mentoring - where they have the opportunity to gain from a wealth of experience, and their counterparts reap an insight into their fresh outlook in return - will be even more powerful.
The VIP Leadership Dynamics Workshop will help to equip newly-appointed managers and aspiring leaders with these soft skills to recruit, engage and retain millennials, and understand how to help them to maximise their performance at work.
Born in the boom years after WW2. Planning or enjoying retirement with cash and good health.
Coming of age in 2000. Shaped by technology with computers and mobiles central to everyday life.
Reaching early adulthood in 2018.
Sources of Information and Further Reading on Millennials
FT: The Millennial Moment in charts
KPMG Report: Meet the Millennials
Deloitte: The Millennial Study
VIP Coaching has designed this workshop to help you focus on Leadership Dynamics to kick-start the transformational change in your organisation; to embrace the needs, aspirations and motivators key to leading millennials and ensure your workplace is fit for the next generation.
or call: 07840 858 786