attracting & retaining top talent: millennials in the workplace

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Page 1: Attracting & Retaining Top Talent: Millennials In the Workplace
Page 2: Attracting & Retaining Top Talent: Millennials In the Workplace

Building SuccessfulEmployee

RelationshipsA Cornerstone to Fraud Prevention

and Risk Management

Page 3: Attracting & Retaining Top Talent: Millennials In the Workplace

Building SuccessfulEmployee

RelationshipsA Cornerstone to Fraud Prevention

and Risk Management

Page 4: Attracting & Retaining Top Talent: Millennials In the Workplace

Building SuccessfulEmployee

RelationshipsA Cornerstone to Fraud Prevention

and Risk Management

Page 5: Attracting & Retaining Top Talent: Millennials In the Workplace

Attracting & Retaining Top Talent

Millennials in the Workplace

Page 6: Attracting & Retaining Top Talent: Millennials In the Workplace

IntroductionsSuzanne Sentman, SPHR• McKonly & Asbury• Human Resources Director• [email protected]

Holly Kressler• McKonly & Asbury• Human Resources Coordinator• [email protected]

Page 7: Attracting & Retaining Top Talent: Millennials In the Workplace

Generation DefinitionsThe Millennial Generation • Born 1981 to 1997• Age 18-34 in 2015• Share of Adult Population: 30%

Generation X • Born 1965 to 1980 • Age 35 - 50 in 2015• Share of adult population: 27%

The Baby Boom Generation • Born 1946 - 1964 • Age 51 – 69 in 2015• Share of adult population: 30%

The Silent Generation • Born 1928 - 1945 • Age 70 - 87 in 2015• Share of adult population: 11%

The Greatest Generation • Born before 1928 • Age 88 - 100 in 2015• Share of adult population: 2%

Pew Research Center

Page 8: Attracting & Retaining Top Talent: Millennials In the Workplace
Page 9: Attracting & Retaining Top Talent: Millennials In the Workplace
Page 10: Attracting & Retaining Top Talent: Millennials In the Workplace

Generation Characteristics

Pew Research Center

Page 11: Attracting & Retaining Top Talent: Millennials In the Workplace

Confident• On track to become most educated

generation• In 2008 a record share of 18-24 year olds

(39.6%) were enrolled in college. • Despite the recent recession, about 9 in

10 say they will eventually meet long-term financial goals.• More optimistic than Gen Xers and Baby

boomers with respect to financial future and earning power

Pew Research Center

Page 12: Attracting & Retaining Top Talent: Millennials In the Workplace

Connected• As mentioned earlier, technology is their most defining characteristic• “Always connected” generation & “Fused social lives into technology”

• 8 in 10 say they sleep with the cell phone by the bed• 2/3 admit to texting while driving• 75% have a profile on a social networking site; and of these 29% check their

favorite site several times a day• 1 in 5 have posted a video of themselves online

• Information and knowledge readily accessible online• Able to adapt well to new technology and will multi-task using

various technology

Pew Research Center

Page 13: Attracting & Retaining Top Talent: Millennials In the Workplace

Open to Change• More ethnically and racially diverse than older adults• 43% non-white• 25% first language not English• 20% have at least one immigrant parent

• More accepting of new patterns of social behavior (same sex marriage, single parenting)• Impact of recession • last ones hired / first ones fired • taking entry level positions

• Relocation is more attractive since 22% own home vs. 71% of those 30 and older

Pew Research Center / U.S. Census Bureau

Page 14: Attracting & Retaining Top Talent: Millennials In the Workplace

Traits of Millennials in the Workplace• Diverse• Highly educated• Tech-savy• Crave collaboration• Want feedback• Looking for growth

Average tenure by generation:• Millennials- 2 years• Gen X- 5 years• Baby Boomers- 7 years• Silent Generation- 10 years

Association Subculture

Page 15: Attracting & Retaining Top Talent: Millennials In the Workplace

Traits of Millennials in the Workplace• Expect coaching, feedback / measurement from an employer • Expect career progression / professional development • Expect technology to optimize work – they are prepared to lead the

charge! • Highly collaborative • They prefer 24/7 availability • Multi-taskers

Page 16: Attracting & Retaining Top Talent: Millennials In the Workplace

What 3 Things do Millennials Want in a Career?• Flexible schedules! (no 9-5 jobs)

• Invest time acquiring the skills and knowledge

• Sense of purpose (self and employer)

Fortune.com

Page 17: Attracting & Retaining Top Talent: Millennials In the Workplace

Creating the Right Culture: Communication with Employees• Constant, clear communications • Don’t dumb down messaging • The power of the written word • Short concise communications • Use employee feedback to include making top-level leaders

accessible • Embrace the direct communication style

Page 18: Attracting & Retaining Top Talent: Millennials In the Workplace

Creating the Right Culture:Leveraging Technology• “On-demand” information that Millennials expect• 35% of Millennials agree that employer doesn’t leverage technology

in workplace very well!• Automate tasks• Increase efficiency• Provide for knowledge sharing • Encourage collaboration

• Social collaboration for ideas – Yammer• Project management – Basecamp

UNC Kenan-Flagler Business School

Page 19: Attracting & Retaining Top Talent: Millennials In the Workplace

Creating the Right Culture:Community Involvement• Aim for quarterly events where

everyone participates in a cause. • Allow employees time away from

work to volunteer. • Showcase how the company gives

back to the community on your website. • Do you have a product or service

that can be shared with the community?

Page 20: Attracting & Retaining Top Talent: Millennials In the Workplace

Creating the Right Culture:Work Life BalancePolicies and tools that make this happen…• Telecommuting• Flexible scheduling• Technology to support this…

• Cloud based content such as Google Drive and Microsoft’s One Drive• VPN• Video calling through Skype and Google Hangouts• Instant Messaging

Page 21: Attracting & Retaining Top Talent: Millennials In the Workplace

Creating the Right Culture:Work Life BalanceOther policies to support work life balance…• PTO Time – allows flexible use of paid time off• Social Media policies – set clear expectations!

• BYOD• Access to personal social media sites during workday

Page 22: Attracting & Retaining Top Talent: Millennials In the Workplace

Creating the Right Culture:Work Environment• Dress Code – creates a comfortable work environment

• Don’t forget to add some fun…

Page 23: Attracting & Retaining Top Talent: Millennials In the Workplace

Creating the Right Culture:Work Environment

Page 24: Attracting & Retaining Top Talent: Millennials In the Workplace

Ask Yourself• How does your company recruit millennials?• Would you rather talk to a candidate on the phone or text them?

Page 25: Attracting & Retaining Top Talent: Millennials In the Workplace

Recruiting and Hiring• “Millennials are going to be

changing jobs every three years.”

• How do recruiters deal with hiring and then rehiring after three years?

Page 26: Attracting & Retaining Top Talent: Millennials In the Workplace

Social Media• Have a Plan• Engage Daily• Chose Sites Wisely

Page 27: Attracting & Retaining Top Talent: Millennials In the Workplace

Top Social Media Apps

Page 28: Attracting & Retaining Top Talent: Millennials In the Workplace

Being Mobile Friendly• On average nearly 60% of candidates used a

mobile device to search for a job• 52% used them to apply for a position • Around 70% hear about companies through friends

and job boards

• Best practices…• Make sure your job application is mobile friendly. • Develop an online application process that is simple to

access and easy to navigate. • Make sure job descriptions are appealing to millennials

and keep them short and simple. Spark Hire

Page 29: Attracting & Retaining Top Talent: Millennials In the Workplace

Texting• 92% of U.S. smartphone owners send an average of 111 text

messages per week. • 50% of daily social media users would rather text than talk on the

phone.

“It is apparent that mobile communication is the best way to reach a millennial.” - Recruiter

Page 30: Attracting & Retaining Top Talent: Millennials In the Workplace

Campus Recruiting• All companies should connect with

students in their college career.

• Who should companies talk with?• What programs can companies

offer?• What events or functions can

companies attend?

Page 31: Attracting & Retaining Top Talent: Millennials In the Workplace

Employee Referral ProgramsKey Elements:• Awareness• Communicate• Incentives• Recognition• Advantages

Page 32: Attracting & Retaining Top Talent: Millennials In the Workplace

Interviewing• Location• Employee interaction• Explain position• Keep the candidate engaged

Page 33: Attracting & Retaining Top Talent: Millennials In the Workplace

Onboarding: Best Practices• Short bursts of information best – but make sure information is

accessible so they can go back and review later • Be prepared for time allotment – be realistic. Take breaks• Use a comfortable location as much as possible• Be creative! Build in fun to program as a way to get to know the

culture

Page 34: Attracting & Retaining Top Talent: Millennials In the Workplace

Onboarding: Best PracticesDon’t underestimate the value of a formalized program!

Be sure to include: • Low level policies and legal rules - for example social media do’s and don’ts• Job expectations • Ways to connect with other employees & learn culture

• Group lunches, “meet and greet” get-togethers• Cross training, shadowing others • Community events • Office scavenger hunts

• Training – learning from peers, e-learning

Page 35: Attracting & Retaining Top Talent: Millennials In the Workplace

Training: Best Practices• Make it relevant! Explain how it applies to job• Technical know-how is important but don’t forget soft-skills topics!• Keep it tech-savvy• Coach and praise along way• Use collaboration to your advantage… • Foster an appreciation of diversity within your organization

Page 36: Attracting & Retaining Top Talent: Millennials In the Workplace

Performance Management:Providing Feedback• Be involved as a supervisor or manager! • Provide clear and candid feedback – they value openness and transparency.

• Set clear expectations • 61% of millennials say they need specific direction from their boss to do their

best work.

• Explain the value of what they are doing • Impact to team and company…think big picture

TINYpulse

Page 37: Attracting & Retaining Top Talent: Millennials In the Workplace

Feedback• Make your feedback timely• 80% of millennials want feedback in real time.

• Ask for input…• Are their responsibilities clear?• Do they have the resources they need? • Are their tasks manageable?

Talent Cove

Page 38: Attracting & Retaining Top Talent: Millennials In the Workplace

Professional Development• Engage in career path discussions early on - annual review cycles

won’t cut it…• Provide career-building opportunities within their role but also think

of ways to get broader work experience.

Positives = Smart, confident, ambitious, want promotionsNegatives = New to workplace and lack experience

• Solution….MENTORING

Page 39: Attracting & Retaining Top Talent: Millennials In the Workplace

Mentoring• Allows for employee to take control of his or her own career

development • Context of relationship allows to align with organizational goals• Multiple learning channels offer various perspectives • Teams, departments, divisions, locations….

• Non-traditional approaches:• Team• Reverse

Page 40: Attracting & Retaining Top Talent: Millennials In the Workplace

MentoringEmployer Benefits • Multiple generations working together learn from one another• Transfer of specific company knowledge • Preparing Millennial employees for leadership roles

Page 41: Attracting & Retaining Top Talent: Millennials In the Workplace
Page 42: Attracting & Retaining Top Talent: Millennials In the Workplace

Millennials…• Want to make the world a better place• Want to express themselves• Are the most diverse generation ever to exist• Value flexibility• Want feedback

By showing Millennials that your company is one where they can learn, grow, find flexibility and high quality of life, you can bring in young talent that will stay with your company and add value.

• All generations can benefit from these best practices!

Page 43: Attracting & Retaining Top Talent: Millennials In the Workplace

Questions?Suzanne Sentman, SPHR• McKonly & Asbury• Human Resources Director• [email protected]

Holly Kressler• McKonly & Asbury• Human Resources Coordinator• [email protected]

Page 44: Attracting & Retaining Top Talent: Millennials In the Workplace
Page 45: Attracting & Retaining Top Talent: Millennials In the Workplace
Page 46: Attracting & Retaining Top Talent: Millennials In the Workplace

Questions?Suzanne Sentman, SPHR• McKonly & Asbury• Human Resources Director• [email protected]

Holly Kressler• McKonly & Asbury• Human Resources Coordinator• [email protected]

Page 47: Attracting & Retaining Top Talent: Millennials In the Workplace

Building SuccessfulEmployee

RelationshipsA Cornerstone to Fraud Prevention

and Risk Management