NEXT GEN-TALENT
TO ATTRACT AND RETAIN YOUNG TALENT, ORGANIZATIONS MUST LEARN WHAT MAKES THE NEXT GENERATION TICK.
Members of the younger generation in the workforce don’t seem to play by the rules. When a boss says "jump," they don’t ask. "how high?" instead, they ask, "why?"
Most millennials are interested in more than just taking orders, earning paychecks and promotions. They want organizations to place more importance on employee well-being, growth and development. While some may disregard these thought as the foresight of youth, they are becoming too numerous to ignore.
Millennials will become the largest generation in the workforce in recent years to come.
Its hard to find and retain these young professionals. As demand for talent increases, the cost of labor will go up. And if organizations can't fill these roles, their ability to deliver successfully will go down.
Many organizations run an effective induction process by bringing in young college grads and providing them with a combination of training, coaching and on-the-job experience. Firms cultivate a sense of loyalty among team members by offering work-study programs, like apprentices working at the company while studying part-time.
Promise of exciting projects and world travel is another big pull for young professionals. To retain staff, having them in charge of small scale, low risk programs which are intellectually stimulating will keep them rooted and will embed learning. Therefore establishing the right learning environment is essential if employees are to be backed by moving from a technical to a strategic role. Providing personalized development opportunities by meeting employee expectations in all career levels, offering competent titles, identifying capabilities and promoting work-life balance may enhance values for employees in the organization.
Employees should be given reviews periodically by managers to ascertain whether they are ready to take the next step and what training and experience they may need to close skill gaps. The combination of development opportunities and the chance to take on leadership roles early in their career might help organizations to keep employee turnover low.
Reference
Fister Gale, S. (2015). PM Network, Who's next? 29(8), 38–43.
Generation of Millennials will be greater at workforce in years to come. Gen Zers will be the next cohort to dominate the corporate workforce. Gen Z had started entering to the workforce since year 2016 and 2017 year would be more significant.
ReplyDeleteThus, the Millennials may require to be mindful of Gen Zers appearance at workplace in order to thrive organizational goals.
yes i agree roshan. Future seems promising with generations to come and even organizations need to be more mindful about the future workforce.
ReplyDeleteI accept Millennial s are very active, motivated, extraordinary. When we comparing it in the society I have seen they cannot face to the challenges. B'cos some are committed suicide without facing challenges.
ReplyDeleteAlso Rumana there will be a big competition present work force and Gen Z. So we have to prepare our existing workforce to face the challenges arrives from the New Gen. Otherwise both will get frustrated.
In the other hand we must redesign our jobs to suite it to the future requirements and digitized environment. Because they will not like work in the present working environment.
With the fast growing environment it is vital that everyone adapt to the change by accepting the challenges that new generations bring in, for it may improve every ones working conditions in terms of being updated accordingly.
ReplyDeleteMillennials are keen to go up in the career ladder rapidly. If they have assurance/visibility on career path/development they will tend to stay of not they will leave.
ReplyDeleteTherefore, to retain young talent it is important to have an effective two way communication channel between them and their managers.
There are many positive qualities of millennials. Millennials (generation Y) work well in teams, are motivated to have an impact on their organizations, favour open and frequent communication with their supervisors, and are at ease with communication technologies
ReplyDeleteAn organization could gain maximum out of the millennials only if they are trained well during the induction session. And this young generation could be retained in an organization if they are assigned with some interesting and challenging tasks which eventually help them to flash their talents and skills to the newly joined company.
Therefore the HR should be more specific in assigning tasks especially for young starters to boost up their interest level.