Millennials in the workforce: best practices in talent management strategy

How Millenials are reshaping the workplace

Millennials have been shaking up the workplace as their vision of - and expectations of - what a career entails have drastically evolved compared to older generations. Finding jobs that are meaningful, seeking work-life balance opportunities and not being afraid of changing companies on a regular basis, are some of the key characteristics of a generation that is about to become a driving force in the workplace.

As stated in an article by DiversityQ (2019)4: “Millennials value meaningful experiences over products, are more idealistic than pragmatic, are continuously in search of personal fulfilment (rather than ‘just another job’) and aren’t tolerant of sub-par experiences.”

"[Millennials] are not trying to find steady, stable jobs these days (…). Instead, they are navigating an endlessly tumultuous landscape, which requires them to be far more discerning, strategic and, in many ways, skillful, than the Gen X-ers and baby boomers who came before them."

Couple that shift in mindset with the ubiquitous technologies at play - 24/7 access to employer information, reviews or infinite scrolling through talent acquisition platforms - and you are at play with a generation of professionals facing endless choices, making it more difficult for companies to recruit talented and committed staff.

Is Your Recruitment and Onboarding Strategy Millenial Proof

For many organizations, recruitment and onboarding are by far some of the most important phases of a millennial-proof talent management strategy: it is after all the entry door for any potential candidate wanting to become part of an organization. These early stages are fundamental for any business since they account for the ‘first impression’ for potential new hires and will shape their first steps within the company. Some even say that it should be a branded candidate journey.

Training & Developing Millenials' Skills

To ensure engagement and retention of top talents in a business, career development should be at the forefront of any company’s human resources objectives. As employees’ needs and wants evolve over time, people become more impatient and seek a more dynamic, enriching experience in the workplace. As stated earlier, millennials will make up 35% of the global working population by 2020, and this number will continue to grow. Again, driven by an intrinsic desire for personal fulfillment and a sense of purpose12, this generation expects change far faster than any other generation in history and companies have to adapt to this new mindset if they wish to engage with them in the long run.

Benefits & Flexibility

To ensure engagement and retention of top talents in a business, career development should be at the forefront of any company’s human resources objectives. As employees’ needs and wants evolve over time, people become more impatient and seek a more dynamic, enriching experience in the workplace. As stated earlier, millennials will make up 35% of the global working population by 2020, and this number will continue to grow. Again, driven by an intrinsic desire for personal fulfillment and a sense of purpose12, this generation expects change far faster than any other generation in history and companies have to adapt to this new mindset if they wish to engage with them in the long run.

Turning Millenials into Loyal Employees

With an increasing millennial population in the workplace, companies have been forced to adapt their SOPs in terms of retention to make their processes effective. Finding the right path to loyalty with millennials might be made of trial of error but as stated before, millennials value meaningful experiences, and that should be the main focus for companies.