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Aligning HR processes with an integration strategy to bring people value


How managers can retain a millennial workforce

It is important for companies to create reliable employee experiences and compete efficiently in the market. Today, millennials and Gen…

By Shobha Singh , in Blog Human Resource Management , at August 11, 2021

It is important for companies to create reliable employee experiences and compete efficiently in the market. Today, millennials and Gen Z make most of the workforce in corporate organizations. Born in the 1980s and 1990s, millennials contain 30% population and they will characterize 75% of the global workforce by 2025. Millennial hopes include a meaningful job, flexibility in the workplace, and mentorship.

This generation has observed the uprising of smartphones, the internet, and other smart devices and that makes them a tech-savvy workforce. Today, every employer desire to attract the right talent. Since millennials make the majority of the workforce, talent managers are changing their focus to attract and retain them.

Technology implementation – Millennials accept technology faster than any other generation. Using contemporary apps and digital tools develops internal and external communication of employees with employers and clients.

As developments over the past few years have shown, we are in a time of extraordinary technological growth which shows no signs of breaking down. This has triggered upset and disturbance on a vast scale as the impact of new, cutting-edge technology is starting to be seen now in every industry. As with any technological revolution, in order to avoid being made outdated, existing companies will need to ensure they take advantage of these new prospects to improve their business, products, and services. If they don’t, newer and more consumer-friendly decisions will be taken by the customer.

Work-life balance – Work-life balance is one of the most vital reasons that millennials want flexibility in the workplace. According to a survey, millennials like to devote their last time in the office. It affects their productivity, creativity, and effectiveness. Moreover, nine-to-five jobs with stretched hours do not offer the space to maintain a work-life balance. The time consumed in traffic and commuting is also a major contributor for millennials to the expert flexibility of their company. With the onset of the pandemic, employers are accepting work from home trends and investing in virtual work infrastructure. This culture not only benefits to retain existing employees, but also helps talent managers in attracting new talent.

Diversity and inclusion – A current study suggests that employees who see diversity in their senior management are more likely to discover the workplace more motivating and engaging. Talent managers consider diversity and inclusion as the core of the business strategy. It helps fascinating, diverse employees and retaining them for long. In order to attain the highest success rate in the implementation of diversity and inclusion, employers need to line up their entire workforce on the same page. Thus, employers must implement policies of equality and accountability.

Upskilling of employees – Millennials want to develop in the workplace in order to progress in their careers. Employers emphasizing the learning and development of employees see a lesser attrition rate as growth opportunities are among the top priorities of millennials. With advanced learning and development programs. Talent managers are able to focus on knowledge gaps and challenges faced by employees and empowering them to perform better at their jobs.

Competitive salary offers – employers are prioritizing fair pay and handsome salary for employees with the purpose of generating social impact. It also plays an important role in reducing the stress of employees by creating a caring environment in critical times such as the ongoing pandemic.

Engagement and experience – Attracting the millennial workforce can offer lots of benefits to corporate organizations. The greatest way to do this is by capitalizing heavily on advanced technological infrastructure and addressing other needs of the employees. This can help the employers in motivating employees and cultivating employee engagement and experience.

Employees want jobs that suit their lifestyle, give them opportunities to nurture, and connect them to greater meaning and purpose. Engagement is not an occasion, an incentive program, or a fun perk. While being engaged at work does feel respectable, It is formed on a daily basis through one’s work environment and relationships.

In Gallup’s framework, engagement comes before a performance because it is foundational to reliable excellence. Even an extremely talented but disengaged worker may outperform his or her peers, but they will never actually reach their full potential until they feel supported at work. Engagement defines the basic psychological needs that must be seen in order to perform your work well. This contains things like knowing what’s expected of you and having the materials you need. But it also contains emotional and social needs, like doing work that you are good at and linking your work with an advanced purpose.

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