Habitat - March/April 2016 - (Page 26)
How to Attract, Retain
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.
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
H A BITAT
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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
Maneuverability (ability to shift area of
work within a given company, along with
potential for growth of responsibility in
Table of Contents for the Digital Edition of Habitat - March/April 2016
Cover Feature: What Apartment Residents Really Want
2016 AAA Trade Show Sneak Peek
Millennials: How to Attract, Retain and Manage
AAA Platinum Patron Member Profile: CSC ServiceWorks
AAA Gold Patron Member Profile: Fowler, Hein, Cheatwood & Williams, P.A.
Habitat - March/April 2016