CC Image courtesy of @pichet_w

Millennials in the Workplace

It’s Time to Think Differently About Employee Communication

Millennials Are The Fastest Growing Work Segment

Millennials represent 1/3 of the current workforce, and there’s frequently misalignment between what millennials want and what companies provide.*

To attract and retain millennials, we must understand what makes them tick.

* Pew Research Center - http://www.pewresearch.org/fact-tank/2015/05/11/millennials-surpass-gen-xers-as-the-largest-generation-in-u-s-labor-force/ CC Image courtesy of Pixabay

The Recruitment and Retention Challenge with Millennials

Hours are spent developing career tracks and compensation programs to attract and retain employees.

However, these efforts are often in vain when it comes to the millennial generation.

WHY?

Image courtesy of Kompania Piwowarska

Digital Natives

Millennials are the first generation born in the age of the Internet of Things.

83% of millennials use smartphones as their preferred mode of communication.*

However, smartphones are rarely used as an employee communication tool.

* Ultimate Software - http://www.ultimatesoftware.com/pdf/whitepapers%5Ctop-five-talent-acquisition-trends.pdf CC Image courtesy of VIKTOR HANACEK on picjumbo

Millennials Are Unique Communicators

They like simple communications – short and sweet.

Communications need to be engaging and personal, for example, visual communications such as videos and infographics.

CC Image courtesy of @pichet_w

Feedback, Feedback, Feedback

Millennials expect immediate gratification and easy access to information. They like giving and receiving lots of feedback.

CC Image courtesy of VIKTOR HANACEK on picjumbo

Work-Life Balance + Purpose

For millennials, a sense of purpose regarding what they do must be clear in communication with them.

“Sense of purpose” is the reason 6 out of 10 millennials chose to work for their current employer.*

* Deloitte - http://www2.deloitte.com/global/en/pages/about-deloitte/articles/millennialsurvey.html

CC image courtesy of Kompania Piwowarska

Career Advancement Is Still Important

Millennials want to see opportunities for advancement.

Lack of opportunity is the #1 reason millennials leave their current companies.

CC Image courtesy of Pixabay

Millennials Are Quick To Make Job Changes

Job tenure hovers around 2 years.

One in four 35 year olds have had 5 or more jobs.*

* CareerBuilder - http://www.careerbuilder.com/share/aboutus/pressreleasesdetail.aspx?sd=5%2F15%2F2014&id=pr824&ed=12%2F31%2F2014CC Image courtesy of Kevin Harbor

Recruitment Is Expensive

It is more expensive to recruit and fill positions with new employees than it is to invest in retaining current employees.

The average cost is $15,000-$20,000+ to replace a millennial worker.*

* Millennial Branding - http://millennialbranding.com/2013/cost-millennial-retention-study/ CC Image courtesy of Pixabay

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Key Takeaway:

Investing in employee communication channels that meet the expectations of millennials is a bold challenge for HR professionals. Communication must be mobile-centric, highly engaging, immediately valuable, and personally relevant.

CC Image courtesy of VIKTOR HANACEK on picjumbo