Wednesday, April 15, 2015
The Herman Trend Alert
April 15, 2015
Engaging Millennials
It had to happen eventually and now it has. The Millennials are finally beginning to understand what really matters. Recently Futurestep, the RPO (Recruitment Process Outsourcing) arm of Korn Ferry released a study detailing the new Millennial attitudes. They used to value money over all of the other aspects of employment. Now, Millennials are "placing greater value on understanding what a company stands for and how, as employees, they can play a role in growing the organization into a better, stronger brand".
For the purposes of this study, the company defined Millennials as everyone born after 1980, actually lumping the next generation (The Homelanders/Generation Z) into the mix---which may explain why the results turned out as they did. (We typically define the Millennials as those born 1980 to 1997; and the next generation, we define as those born 1998 and later.)
What Matter Most to Millennials
The study "highlighted the top considerations for attracting and retaining Millennial employees and recruits".* When asked what matters most to employees who are part of the Millennial generation the greatest number of respondents (23 percent) said it was 'the ability to make an impact on the business', followed by 'a clear path for advancement' (20 percent) and 'development and ongoing feedback' (16 percent). Income came in at fourth place at only 13 percent.
What Influences their Employment Decisions
When executives were asked "what makes Millennials 'choose one job over another', more than a third (38 percent) said 'visibility and buy-in to the vision of the organization' while 28 percent said 'a clear path for advancement'. 'Job title and pay' came in third place at 18 percent."
Best Tactics for Millennial Recruitment
Moreover, the survey revealed that 42 percent of respondents believe social media is the best tactic for recruitment, followed by 'word-of-mouth/networking' (28 percent) and online talent communities (19 percent).
What These Results Mean for Employers
Trish Healy, Futurestep vice president of RPO Operations in North America said it best, "This research demonstrates the changing priorities of today's young workforce". Wise employers will take these new priorities to heart and recruit on social and mobile platforms. They will also build these new Millennial priorities into their onboarding processes, clearly communicating opportunities for development and advancement. ###
* It is important to note that Futurestep asked executives for these answers, not the Millennials themselves.
To read the entire survey results, visit http://futurestep.com/press/futurestep-survey-finds-compensation-one-least-important-factors-recruiting-millennial-talent/
*********
LAST CHANCE TO MEET THE INNOVATORS IN NYC AT THE EDISON AWARDS:APRIL 23
Want to see the leading edge of innovation? Then you won't want to miss the Edison Awards Meet the Innovators Forum and Innovators' Showcase in New York City, April 23rd. Last year, Elon Musk accepted the Edison Achievement Award and spoke about entrepreneurship. For more information, visit http://www.edisonawards.com/AwardsGala.php.
*********
Copyright 1998-2015 by The Herman Group, Inc. -- reproduction for publication is encouraged, with the following attribution: From "The Herman Trend Alert," by Joyce Gioia, Strategic Business Futurist. 336-210-3547 orhttp://www.hermangroup.com. The Herman Trend Alert is a trademark of The Herman Group, Inc."
To read this Herman Trend Alert on the web: http://www.hermangroup.com/alert/archive_4-15-2015.html
http://www.cctomany.com/t/tw.png" style="border:0px; display:inline; line-height:12px; min-height:24px; outline:none; width:24px" /> follow us on Twitter
Herman Trend Alerts are produced by the Herman Group, strategic business futurists, Certified Management Consultants, authors, and professional speakers.
New subscribers are welcome. There is no charge for this public service. The Herman Trend Alert is read by over 30,000 people in 87 countries, including other websites and printed periodicals. Do you enjoy receiving this weekly e-mail update? Contact us about our co-branded Herman Trend Alert service. Click here to sign up for the Herman Trend Alert.
The Herman Group is a firm of Strategic Business Futurists concentrating on workforce and workplace issues. We forecast the future and advise clients regarding relevant trends and how those trends may affect their lives. Applying our expertise as Certified Management Consultants, we advise corporate leaders regarding employee retention and organizational development to help them build workforce stability. We help organizations become Employers of Choice®. We also work with Employer of Choice, Inc. to formally recognize employers that meet the stringent standards dictated by the labor marketplace. As authors of management books and as active professional speakers, we inform and inspire people to make a positive difference in the world of work.
You did really get the ball rolling with our retention presentation, overall we have seen a move in the right direction with our turnover.
In practice since 1980, we have served a wide variety of clients throughout the United States and in other countries. Our global affiliates assist us in sharing our expertise and advice with clients internationally. Our team of professional consultants and trainers is supported by an administrative staff that gets things done. We also have consultants certified to deliver our programs in your local area.
Delivering to both small and large groups across 100 industries, The Herman Group has provided over 2,500 educational and informative keynote speeches and training seminars worldwide.
Based in Greensboro, North Carolina, we travel extensively to meet the needs of our clients. We can always be reached through the support team in our office at (800) 227-3566. Overseas callers may reach us through 336-210-3547.
Should you have any questions after touring our website, please call or e-mail us at info@hermangroup.com.
Get started now on improving the stability and performance of your workforce and increase your chances for success in the future.