When I begin with a talking point such as, “I’ve held an 85% retention rate of 20-something year-olds”, people usually respond one or two ways. One, a simple sigh with a raised eyebrow, head cocked to one side in a state of disbelief. Or two, a reply such as, “Show me your ways…”
Roughly 40% of America’s workforce are Millennials. By 2020, analysts expect this number to reach 50%. We are becoming a more diverse, multi-generational workforce, and let’s face it: Millennials are here to stay.
Or so we hope.
Organizations across globe are scrambling to figure out how to attract, obtain and retain young talent. To make this happen, I’ve broken it down into three parts…
Strategy: Finding the Right Fit
- Where are you sourcing candidates? Local universities? Trade schools? Young Professional groups? Look at organizations that are local or regionally close. Pinpoint those opportunities that align with your company positions and values.
- What does the conversation sound like? Market the initial conversation to realistic role expectations – don’t false promise.
- How do you tie your expectations to interviewing to ensure the right candidate? Tools like our customizable Devine Inventory HiringPremium assessment can predict success based on competencies that align with your job requirements.
Individualistic On-Boarding: The Start to an Employee’s Story
- Evaluate and create a 90-day structured action plan for on-boarding.
- Understanding the employee’s make up from the Devine Inventory Develop Report, you can train on the foundations of the role, while individualizing training by leveraging strengths and building into improvement areas.
Follow Up + Follow Through: The Pivotal Moment
- Don’t demotivate a new hire by sending them off without any form of follow up. A 90-day onboarding plan isn’t enough. Hold the employees accountable to action plans and conduct in-depth conversations at 6 and 12 months.
- After a period of a year, consider having the employee retake the Devine Inventory to see growth results of the hard work the individual has done during the year.
- Implement new cultural initiative to support follow through. Contemplate a Mentorship Program to direct new hires into strategic conversation with senior-level individuals.
The war over Millennial Talent is real. There is a lot of conversation surrounding the influx of Millennials into the workplace. At the end of the day, it’s considering multi-generational input, creating a strategy, supporting individualism, and following through. In return you’ll find a happy medium within your own organization, and a very happy workforce, whether you’re 25 or 25 at heart.
Creating your own HR strategy? The Devine Group has solutions built to support the entire employee lifecycle, from recruiting and onboarding, to development and succession. See more at our resources page.