Keeping our future workforce happy (and staying put!)
Posted October 24, 2016 -
news & Recruitment
At the recent Monster Thinking event a topic for discussion was how to keep our younger workforce from job hopping.
It is predicted that by 2030, about 75% of our workforce will be ‘millennials’ and that their needs in the workplace will be different than the ones that have been used to incentivise employees traditionally.
Businesses can’t put off looking at new methods and implementing programmes though, the new World of Work study by Monster has identified that 58% of today’s Generation Y workers are considering their next career move.
What can businesses do now?
- Manage expectations – paint an accurate picture of what the job entails during the recruitment process. Many employees leave when they feel that the role hasn’t been as described.
- Job satisfaction – this is more than providing a healthy salary and holiday package, now employees want to work for businesses that have a clear brand message and company values. It’s more important than you think and it’s not just for the high profile companies. 35% of 18-36 year olds stated that it was essential that their personal values matched that of the company they worked for, this compares to 27% in other age groups. 76% of people surveyed want to work for a business where they feel they can make a difference and 67% want to work where there is a social and environmental conscience.
- Getting the balance right – the work and life balance is important. The Arcadia Group have dedicated space in their offer for a nail and blow-dry bar, a drinks bar and DJ booth. Not every business can follow their lead but there are other initiatives that could be adopted i.e. summer working hours by finishing early on a Friday in July and August. This type of initiative hasn’t altered productivity but has increased morale and employees have worked harder as a result. You only have to look at Instagram feeds to see that millennials care more about experiences than commodities, so why not create a sense of community in the workplace with competitions to win extra time off or perhaps tickets for a local event.
- Confidence – provide regular feedback and acknowledgement of their achievements in the workplace so that they know their skills and work is important to the productivity to the business.
For guidance on how to develop your staff benefits and incentive schemes to suit all age groups in your business, contact Kim or Kerry on 01925 758702