Habitat - March/April 2016 - (Page 26)

FEATURE MILLENNIALS How to Attract, Retain and Manage BY BHAVNA CHADALAVADA MUCH HAS BEEN said and written about Millennials (generally referred to by researchers as having birth years ranging from the early 1980s to the early 2000s), but little of it has come from within our generation itself. The reality about us is that we want what the business community at large wants and needs, but we are pushing for it harder and faster than some are comfortable with. It's causing us to leave jobs, shuffle positions frequently, befuddle our superiors, generally cause angst, and in some cases, accelerate desired culture shifts. Barry Salzberg, CEO of Deloitte Global, put it aptly when he said: "The message is clear: when looking at their career goals, Millennials are just as interested in how a business develops its people and how it contributes to society as they are in its products and profits. These findings should be viewed as a wake-up call to the business community." And, the wake-up call is coming quickly: by the end of 2015, Millennials are expected to overtake baby boomers in the workforce as more and more boomers reach retirement age. We are a generation that has embraced and fueled rapid technological advancement and creative innovation that has changed the scope of multiple facets of the world today: from medicine and healthcare, to poverty, water and hunger, to social connection, dating, food and music. So, what are the tricks to attract, retain and manage the best among us? Read ahead to find out. ATTRACT We love free lunch, but we know that culture goes beyond that. The following three elements are critical to attracting us. (1) Purpose, mission, meaning Seventy-seven percent of Millennials state that their "ability to excel in their job is contingent upon deriving meaning from their work." We want our employers to have a purpose and mission for their business (for six in 10 Millennials, a "sense of purpose," is 26 | H A BITAT | w w w.atl-apt.org part of the reason they chose to work for their current employers), and we want to connect to it in order to feel enlivened and energized by the work we are doing. In all honesty though, who wants a grinding, robotic 9-5 culture? Employers and the former generation seem to have grown used to it, and have tolerated it either because they see no other way, or because they see another way and don't know how to get there. Millennials are built to get there: we are here to change things and make sure those changes stick. "Big Four" accounting firm PricewaterhouseCoopers is planning for a workforce of nearly 80 percent Millennials in 2016. It might take other organizations a few more years, but Millennials are expected to make up 75 percent of the workforce by the year 2025 (Deloitte Millennial Study & Forbes). (2) Quality of leadership According to a Deloitte study, today's Millennials place less value on visible (19 percent), well-networked (17 percent) and technically-skilled (17 percent) leaders. Instead, they define true leaders as strategic thinkers (39 percent), inspirational (37 percent), personable (34 percent) and visionary (31 percent). Who we are working under is a big reason we would want to be associated with a given company. The opportunity to observe a strategic-thinking, inspirational, personable and visionary leader from close quarters is in many cases enough to hook us in. (3) Opportunity for learning and development Maneuverability (ability to shift area of work within a given company, along with potential for growth of responsibility in http://www.atl-apt.org

Table of Contents for the Digital Edition of Habitat - March/April 2016

Chair’s Message
Legal Talk
Cover Feature: What Apartment Residents Really Want
Government Affairs
2016 AAA Trade Show Sneak Peek
Up Close
Millennials: How to Attract, Retain and Manage
Volunteer's Corner
AAA Platinum Patron Member Profile: CSC ServiceWorks
AAA Gold Patron Member Profile: Fowler, Hein, Cheatwood & Williams, P.A.
New Members
Advertisers’ Index

Habitat - March/April 2016