Millennials create challenge
One of the top concerns from businesses today is talent. As we meet with all size, shape and type of businesses we are hearing talent needs from truck drivers to engineers and everything in between. We also have conversations surrounding the changing workforce; in particular millennials who are entering a workforce that may now include three generations who all view work and life very differently.
As we employ a majority of young professionals here at the LSCP (OK, I am not including myself in that), and 100 percent Northern Michigan University grads I might add, I have spent time researching the differences this new generation brings to the table and how we as managers need to engage them in moving our companies forward.
By 2030, 75 percent of the world’s workforce will be made up of Generation Y. Those young adults born between the early 1980s and late 1990s are kick starting a global conversation about how to manage these workers who bring a new mindset and skillset to the labor market. According to a University of Michigan professor, young adults are more likely to focus on how their work affects the greater whole of the world, the life/work balance and the ability of technology to create flexibility within the workplace.
They place a higher value on authentic conversations and real-time performance evaluations in the work place instead of regularly scheduled events. They also place a higher value on quality of life, and challenge our HR professionals to keep the workplace alive and engaging.
Learning opportunities and professional development are of similar importance to millennials as a paycheck, and companies are expanding their employee services to everything from karate to sculpting to keep their workforce enthusiastic.
Additionally, millennials are finding that they prefer to job-hop or have a blended career, which is different from previous generations. The first step to successful talent retention is to hire the right millennial in the first place. Part of this entails asking the right interview questions, matching employer goals and values to that of the potential employee, and creating a work-based community that millennials can identify with.
While Generation Y might give the workplace a bit of a culture shock during their impending takeover, it is crucially important for your organization to help them realize their potential.
Rich Sheridan, Menlo Innovations CEO in Ann Arbor says “Anyone who laments that young people don’t have the work ethic of us baby boomers has created the wrong system. Millennials want what we all want. They’re just not afraid to ask.”
The LSCP works with Michigan Works, Manpower and the MEDC to provide support to our clients with talent needs. If you are in the market for a new employee, millennial or not, you as an employer have tools available to you to make talent attraction and retention an easier job for you and your HR department. The LSCP staff is happy to assist you post open positions on the Pure Michigan Talent Connect page as well as refer you to our various workforce partners for assistance. We also post a “job of the week” on Tuesdays to all of our social media pages. If you are an LSCP partner with a full time job opening, please send it our way and we’d love to feature your open position.
Contact our office at 906-226-6591 for all your business needs.
Editor’s note: Amy Clickner is CEO?of the Lake Superior Community Partnership. Her twice-monthly column will address topics of interest to the local business community.