OPOC.us Develops Three Keys to Keeping the Millennial Employee Onboard
COLUMBUS, Ohio, August 23, 2019 (Newswire.com) - There is a looming crisis for employers. Within three short years, millennials will comprise nearly half of the workforce, and, on average, they spend less than three years with each employer. The prospect of having almost 50% of the workforce circulating in and out of an organization over a short timeframe should give any business leader pause. The cost of turnover of a well-trained employee is high, especially as millennials reach higher and higher levels in the organization. To address the shift in the employee workforce, OPOC.us, a leading Strategic Planning firm, has developed three keys to keeping the millennial employee onboard.
Hiring for a Cultural Fit. Millennials came of age during the social media explosion in which there is a huge emphasis on social connectivity. They want to feel this same level of connectivity at work – to both their colleagues and the organizational values and mission. They want to feel that everyone is on the same team and believe passionately in the mission – from the C-suite to the front door. If they don’t feel connected to the broader organization, their tenure will likely be short and unimpressive.
Providing Balance. A 2016 Deloitte study found that more than an impact on society, a strong sense of purpose or a dynamic workplace, millennial employees want a good work/life balance. In fact, a sense of balance was second only to salary as the most important considerations when evaluating job opportunities. Millennials have seen the impacts of a lack of such balance in previous generations and have resolved that they do not want to follow the same pattern. They know that, in many roles, technology can allow them to achieve a level of productivity and balance not available to their predecessors, and they expect employers to recognize that too.
Clear and Constant Communication. We live in an age of constant data. Just as you no longer wait until 7 p.m. to get the day’s news, the annual review is a thing of the past. With the constant flow of information, millennials expect constant feedback about their performance, opportunities and potential. They don’t expect the communication to be formal, but without daily interactions, millennials are left feeling isolated and adrift – unsure of where they fit in the future of an organization.
OPOC.us suggests designing the culture around meeting the economic and psychological needs of the millennial workforce. It’s based on the notion that millennials have the potential to be hard-working, dedicated, long-term employees if the organization takes into consideration their expectations, aspirations and needs. If an organization can implement these three keys, they can unlock the true potential of the millennial worker and maximize their tenure.
OPOC.us is a collaboration of top industry Strategic Planners in the areas of Culture Success, Healthcare and Employee Benefits, Retirement Plan Administration, Risk Management, Business Process Improvement, HRIS Technology, Recruiting, and Branding specializing in the delivery of FORTUNE 500 “One-Point-of-CARE” solutions for mid-sized organizations.
Adam Sommer, Development Analyst
Categories: Small Business