Working With Millennials: A New Generation in the Workforce
As usual, times are changing. With a new generation entering the workforce, there’s a lot to keep in mind about how you’ll keep up. We’re talking about a wave of young talent that has become more fluent in media and technology at an earlier age than any generation before it. So what does this mean for your workplace and employment strategies? Here are some considerations.
The Great Retirement
First off, why is this so important? One of the most critical factors at play here is the fact that employers everywhere can expect to lose a significant portion of its workforce as the baby boomers retire over the next five or ten years. This explains why so many companies — tech startups and old timers alike — have begun to recognize the importance of seeking out and accommodating Generation Y talent.
A New Corporate Culture
Tech companies like Facebook and Google have made a considerable impact not only on how we interact with information and one another, but also on corporate culture. They’ve set new standards in employer-employee relationships, so the new generation of workers will have several expectations when going into a job. Transparency, direct and regular interaction with managers, healthy work-life balance, and an egalitarian dynamic are all examples of upgrades to the old ways of doing things. And don’t forget the working environment itself. Your spaces should be open, ergonomically flexible, and as conducive to collaboration and communication as possible. This is becoming the new standard.
The Power of Incentive
Another thing that is very important to this generation is stability. College debt and other issues have contributed to a certain amount of anxiety among graduates, as a good degree and good skills aren’t the guarantee they used to be. Compensation packages and other indicators of economic longevity are increasingly common, as this is one of the most direct ways to let a Gen Y worker know they’re an indispensable member of your team. If they feel that your company can offer them a strong and relatable sense of community, as well as valuable development of their skills for the future, you’ll be keeping those turnover rates where they should be: low!
Summit Search Group is the leading recruitment agency in Canada, and we are dedicated to helping you build and maintain the ultimate dream team for your company. To learn more, get in touch with the Summit Search office nearest you today!