How to Leverage Millennial Talent
Overcoming generational differences in the workplace is as challenging as it is essential. Building a bridge over the generational gap, often seen in startups between CEOs and their millennial employees, may play a significant role toward the improvement of productivity and development of your team. Considering that millennials and generation Z have an extensive comprehension of the future of businesses, particularly about technology, attracting and engaging them to your business guarantees durability and competitiveness. In order to leverage millennial talent in your organization, it is vital to understand their mindset and lay the foundation of a business relationship. So to attract these people to your company and keep them there are several strategies you can implement:
The need for talent development is evident, the strategies that different organizations use are size-dependent. Large businesses tend to use in-house talent development and small businesses tend to outsource these efforts. The key here is to strengthen the skills and knowledge of your millennial employees in order for them to reach their potential and flourish in the workplace which will, in turn, lead you to a more successful business. As times change, your business’s talent development strategies should be changing as well to ensure you maintain competitiveness in the market.
2. Team Building
Trust is the core of team building. In order to broaden the talent of your millennial employees it is essential to believe and trust in their abilities, as the lack thereof may lead to the inhibition of their development and consequently the failure to leverage their talent. This strategy will work if you trust that the investment in your employees will eventually prove beneficial for your business. Team building strategies are also retention strategies when it comes to young generations. Millennials value corporate learning very highly. Being fresh into the workforce, they want to absorb as much as possible and make an impact early on. When you trust that your employees will go a long way and invest in their development, they will go a long way and the investment works both ways. Company culture is also highly valued so it’s a win-win strategy.
3. Meaningful Work
In connection to the importance of trust, mentioned above, comes the question of if your employees are worth the investment. Given the reputation of millennials to jump from job to job this doubt is fitting. Millennials tend to value different things than past generations and tailoring to this will ensure their durability in your company. A study from Deloitte shows that millennials truly value purpose in their work, meaning that the business that they work for has a positive impact. Offering benefits is not enough to retain millennial employees, their jobs must have a greater meaning.
Given that harnessing millennial technological expertise comes from your business’s need to stay competitive in the technological age, technology is evidently vital. The latest cutting edge technology may not be essential in absolutely every aspect of your business but having the basics is important. Slow outdated technology may be frustrating for employees and in the long-run, the lack of efficiency may be more costly.
As you try to expand the talent in your business don’t forget about the talent that already exists. Some of the more experienced employees can serve as mentors for the newest team members. The older generations can teach the new ones how to succeed in the business. Their know-how can make mentorship programs an efficient strategy for development.