Managing Talent – How to Manage Millennials

Managing Talent – How to Manage Millennials

Managing talent over the next five years will be completely different than how it has been done for the past 20 years. By 2025, millennials will make up 75% of the workforce and technology will play a large role in how you attract and retain that talent pool.

So how do employers meet the changing expectations of their employees? In the past, the employer/employee relationship was motivated mostly by finances. So, if the employer was providing adequate compensation, the employee was mostly satisfied. These days, other factors are playing a larger role, such as training and career development through learning opportunities to increase the employee’s skill set. Below are three crucial aspects your company will need to take to meet the needs of today’s workforce:

 

Make it Flexible

Today, managing talent requires flexibility because many employees are working under more flexible arrangements, especially when it comes to location. With today’s technology, more people are working remote from their homes or out in the field so geographic boundaries are no longer a barrier to productivity and collaboration. This means you’re going to have to adapt to the needs of remote employees, and that includes onboarding. Leverage the technology that’s available so you can save your company money and avoid having to fly a new hire to your headquarters for their onboarding. If 10% of your workforce is remote, that can lead to some serious savings. Also, continuous onboarding is important for a remote employee, it helps them feel like they’re a part of the organization, rather than detached.

 

Take a Balanced Approach by Adopting the 4 C’s of Onboarding

Implementing the 4 C’s of onboarding is by no means an original concept, but it should be considered best practice when managing talent. The 4 C’s are: Compliance, Clarification, Culture and Connection. It’s important to note that a lot of companies pay too much attention to Compliance at the expense of the other three. To best serve your employees, balance all four of the C’s and you’ll find that your employees will be much more engaged and productive. Your new hires will be much more productive after going through an onboarding process that is enriched with learning and socialization.

 

Improve Engagement by Creating Continuous Onboarding Processes

When is the best time for your organization to start the onboarding process? We suggest right after the offer is accepted. It might seem early, but this will keep the communication flowing between you and your new hire. It will make them feel welcome and that they are already a part of the organization and the team they’ll be joining. Don’t be afraid to immerse them in your culture right away.

What other types of activities could you do throughout the year? Many companies that operate best-in-class onboarding platforms make sure to include performance goal-setting, enrollment into learning, training, and development programs, and an assessment to determine the employee’s development track. This process is also relevant to employees that transfer to another location within the company. Many of those employees have a fair amount of uncertainty about what life will be like, either in their new local community, or at a completely new company after a merger or acquisition. A formal onboarding process can help alleviate many of those concerns and help retain the talent you have acquired.

Managing talent of this new generation is going to be very different than managing the traditional workforce. These three tips should help you get ahead of the curve and keep your new hires for years to come.

If you need any additional tools or resources, please contact DecisionHR at 1-888-828-5511 & discuss with your assigned Human Resources Business Partner.