Millennials aka Gen-Y are outnumbering baby boomers also known as Gen-X workforce at a rapid pace. In fact, millennials are believed to dominate 75% of the global workforce by 2025. Since millennials are deemed to be practical and agile in their approach, organizations ought to put more focus on employee engagement and retention to make them stay. Unlike baby boomers, millennials have a different set of expectations and priorities. It is imperative for the companies to adapt the changing work environment by reinventing the game of human resources management.
The young breed of millennials expect some innovative training from companies and do not hesitate to leave their jobs if unsatisfied at work. According to a research, 91% of millennials do not tend to stick with their jobs for more than three years.
Now businesses and HR leaders might think as what is the point of investing in training program if millennials won’t stick around for long? Nevertheless, millennials even for their short attention span can add great value to a company bringing prodigious results. It’s time to discard the 9-5 mentality, as businesses ought to match up with the millennial lifestyle. Following are some ways to grab their attention and loyalty:
- Go mobile
- Get social
- Set an agenda, then set them loose
- Foster collaboration
- Provide feedbacks
The cost of replacing an employee is always a painful thing for any company. This is one of the prominent reasons forcing companies to transform their training programs.
Here are four effective approaches to engage and retain millennials:
- Investing in employee engagement
Companies can build a training and development system that encourages and motivates millennials to learn new things and concepts. By assigning development opportunities or challenging tasks equally to both senior and millennial workforce, organizations can reduce the risk of losing future leaders. Rewarding the performance and providing constant feedbacks is another way of improving employee loyalty.
- Digitalized training
Millennials are the most connected workforce ever grown up in the digital world. And, it should not come as a surprise that millennials expect the same level of technology at work also. Being tech-savvy, they are very much comfortable and updated with digital technology and consider traditional methods outdated. HR folks should make use of digital learning platforms to cut down redundant content and upgrade training programs.
- Making learning flexible anywhere and anytime
Advance technology and social media has led millennials to anticipate instant answers and get all the data available at fingertips. Companies can design and develop mobile learning programs and ensure that they are accessible anywhere and anytime. This allows employees to choose the pace of training.
- Personalizing training content
Personalizing training content means delivering customized and tailored content through individualized messages as per user specific requirements. Businesses must embrace this new approach of learning to ensure a supportive learning culture and make learning relevant to each individual.
Today’s young breed of the workforce is here to stay and reach new altitudes. Businesses that can tap into the massive talent pool of millennials are sure to achieve the competitive edge. Lastly yet importantly, if a business is willing to have a flexible and supportive approach to managing the millennial workforce, you will be amazed to see what this young clan can achieve for your business.
About the Author:
Anwar Shaikh writes about HR solutions and HR Payroll software. A self-made and reared-up writer, Anwar writes for Pocket HCM, a leading provider of HR management solutions to small and mid-sized businesses all across India. You can find more about them on Facebook and Twitter.