The Great Millennial Panic is Over!

Written by Small Business Magazine on February 25, 2016. Posted in Human resources consultant, Human resources executive search firms, Outplacement service

Outplacement consultant

The mighty panic over millennials taking over the workforce has evidently dwindled away. They apparently are not extraterrestrial beings that have been sent here to destroy the world one tweet at a time. Sure, a few of the stereotypes may apply to some: entitled, lazy, narcissistic; but those negative qualities have been around for ever, and they do not discriminate. There are, however, perfectly functioning millennials out there that are talented and can be valuable assets to your company. Here are some things to keep in mind when hiring and working with millennials:

  • Talent Acquisition — The first step is to actually acquire employees worth hiring. Applicants can seem like a perfect fit during an interview, but once it comes time to produce, they might not be the right fit. According to a survey by Vistage, 35% of CEOs said that staffing is their most significant issue they face. You want to find and hire people that are both qualified and diligent. Collaborate with human resources consultants or outplacement companies that work directly with an executive placement agency.
  • Talent Assimilation — You’ve hired the perfect candidate and are ready to have them get to work. Hopefully you already have a successful onboarding program in place, because within 45 days of being hired, 22% of all new hires leave their jobs. Onboarding is a way to successfully assimilate new employees into the culture of your workplace, and give them the tools and skills they need to be a valued member of the company. New employees are 58% more likely to stay with the company for over three years if they experienced a structured onboarding program.
  • Talent Retention — Now that you hired the right person and trained them properly, now what? Keep them there. At the end of June of last year, 2.7 million employees voluntarily left their jobs. That’s a 25% increase over the last two years. Millennials are not afraid to move on, so if you have talented employees worth keeping, spend some time making your company’s environment a great place to be. It’s important to let the employee voice be heard, find out what they want, what they like, and what they dislike. Talk with an executive placement agency to find out what applicants are expecting before they get the job. Give them freedom, encourage them to be creative, and let them have fun. The work has to get done, yes, but if your employees are happy, then they will work even better.
  • Talent Recognition — Now you have talented employees that work in an exciting and fun environment. Great! There is one more easy thing you can do to boost company morale: employee recognition. Congratulate your employees when they do great work! It’s a great feeling to be recognized for your achievements and they will surely appreciate it. Worker happiness has increased in over 85% of companies that have employee recognition programs. It works!

You are not going to settle for below average employees and millennials are not going to settle for below average companies. This has to be a collaborative process. Work with your employees, your HR team, your piers, employee onboarding consultants, an executive placement agency, and anyone else that will help your company be a great one!

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