Elizabeth Cogswell Baskin

Middle-aged Millennials: Recruiting and retaining an experienced generation


Many Millennials are now more than a decade into their careers. Although the bookend birth years of the generation vary depending on the researcher and/or media outlet, 1980 to 1994 is the block we use at Tribe to define the Millennial generation. That means the first Millennials are turning 38 this year.

They’re no longer those fresh college grads hoping to get a foot in the door.  They’ve done stuff. They know things. They’ve maybe even learned how to manage others. They’re valuable employees, not just for their potential but for their experience.

They’re not kids anymore, and they’re not kidding around about what they have to offer. So what does your company have to offer them?

This is a good time to reexamine your employer brand and your employee value proposition. Since Millennial employees, especially those in the technology field, have plenty of job options, it’s worth investing time and money into making your company more competitive in the talent market.

What’s good for Millennials is often good for other generations too. For instance, Millennials value flexibility in terms of when and where they work. So do many Gen X and Boomer employees, whether they’re dealing with growing kids or aging parents or just the desire for work to accommodate the demands of their personal lives.

However, the most important element of the EVP for Millennials is the work they’re getting to do. Sure, they expect work-life balance and constant feedback and an ethical organization. As they begin having kids, they value solid benefits and competitive salaries even more than when they were younger. And they’re happy to have any extra perks, from a great coffee bar to mobile dental care that show s up on-site. But they care more about the work they’re doing and why.

The employer brand helps communicate that EVP, and that communication begins with recruitment. How are you building that brand with potential job candidates? What are you sharing about what it’s like to work for your company? Should they expect to be challenged with opportunities to grow their careers? Given the responsibility to run some projects of their own? Will they able to collaborate with other talented people? Will they work they do be recognized for contributing to the overall success of the company? And is the vision of this company something that makes them excited to get to work every day?

In terms of retention, it’s helpful to tell the stories of employees’ and their individual efforts. For instance, you might do a regular feature on your intranet or in your internal magazine or newsletter that interviews employees who are highly engaged in their work and excited about how it contributes to the company goals and vision. Or you can tell those stories through video or podcasts. Giving those concrete examples of real people thriving in their jobs is one of the best ways you can promote your employer brand.

Interested in defining your employer brand or EVP? Tribe can help.

Elizabeth Cogswell Baskin

Flexibility Trumps Foosball: Employees Want Control Over Their Workdays

papiroIn companies working aggressively to recruit and retain employees (think Silicon Valley), you’ll find workplaces with a long list of perks. A break room fridge stocked with energy drinks is nothing without on-site chair massage, professional housecleaning services, and an employee concierge to pick up dry cleaning, groceries and run errands.

Yet the perk employees value most, according to McKinsey research and other studies, is flexibility in when and where they work, says Fast Company.

“A new study by career site FairyGodBoss shows that, after compensation, flexible hours trump every other factor when women are deciding on a job offer, regardless of their age or whether they have children. A recent study by McKinsey & Company finds that millennials of both genders are more likely to accept a job offer from a company that offers flexible work schedules.

“Yet what drives most company’s recruitment efforts is demonstrating that it’s a ‘cool’ or ‘fun’ place to work. Instead of investing in ways to innovate flexibility, many companies are still spending money on foosball tables, onsite yoga, and free food. ‘Flexibility will become the norm for employers who want to win the war on talent,’ says Joanna Barsh, director emerita for McKinsey & Company and author of Centered Leadership.

“Flexible work schedules don’t necessarily mean employees work from home every day. ‘Flexibility means I can control my time so I’m not stuck in meetings from 9 a.m. to 5 p.m., I know what work I need to do, and you will trust me to get it done,” says Romy Newman, cofounder of FairyGodBoss.’

Employees value jobs that support them in a high quality of life, and that means more than a paycheck. Does the job accommodate their life or is their life compromised by the job? Do they have the flexibility to manage family responsibilities, whether that means kids or aging parents? Are they doing work that makes them excited to get up and come to work in the morning? In short, does the job make their life better?

All that being said, there’s nothing wrong with a chair massage. Relaxing those tense shoulder muscles can also make life better. As can foosball.

Interesting in improving your recruiting and retention? Tribe can help.

 

 

 

Elizabeth Cogswell Baskin

Millennials: Is It a Generation Thing or Just a Life Stage?

AAEAAQAAAAAAAAfCAAAAJGMyOWIwNDNlLTQ0ZjgtNGU0Mi1iZTAxLTJkZDMyOTgzN2E2MQ“Kids these days.” It’s not a new complaint. Millennials just happen to be the group we’re currently calling kids.

Even Socrates piled on. As quoted by Brian O’Malley in a great Forbes post, the father of Western philosophy said: “Children now love luxury. They have bad manners, contempt for authority, disrespect their elders, and love talking instead of exercise.”

Sounds familiar, right? O’Malley goes on to ask some interesting questions, among them: “Are millennials really that different from previous generations, or are we just describing young adults? As Patrick Wright, business professor at the Darla Moore School of Business at the University of South Carolina said, ‘From my standpoint, it’s not a generational thing. It’s actually a stage of life issue.'”

Some like to say Millennials are the worst workers in the history of the world  O’Malley confronts this common sentiment with data and insights that are welcome confirmation for those of us who are fans of this generation’s contributions in the workplace.

“Rather than typecasting millennials as unmotivated, lazy, or disloyal, it’s crucial to look at the larger macro trends in play. Companies used to invest significant amounts of time training new employees. It made sense, because the expectation was that these employees would stick around for decades. Investing in new blood was a long-term bet that paid off over time.”

Millennial job hopping is not necessarily a symptom of short attention spans. The pay off for loyalty to one company “began to change in the 1980s, when ‘you started to see healthy firms laying off workers, mainly for shareholder value,’ as well as “cuts in employee benefits—401(k)s instead of defined benefit pensions, and health care costs being pushed on to employees.”

Data frames this theory in a larger context:

  • “Jobs switching is a broader trend. In a recent study, the U.S. Bureau of Labor Statistics found that Baby Boomers changed jobs just as frequently, holding on average of 11.7 different jobs between the ages of 18-48. Most of the bouncing around happened when they were young—from the ages 18 to 24.
  • Millennials are more competitive than we give them credit. 59% said competition is “what gets them up in the morning,” compared with 50% of baby-boomers. Hardly the generation of slackers they’re cut out to be,69% of millennials see themselves in managerial roles in 10 years.
  • Millennials are more likely to comply with authority than their parents’ generation. 41% of millennials agreewith the statement, “Employees should do what their manager tells them, even when they can’t see the reason for it,” while only 30% of Boomers and Gen Xers agree.
  • Millennials are well prepared. Almost 70 percent of managers say that their young employees are equipped with skills that prior generations are not, around 82 percent are impressed with their tech savvy. Around 60 percent of managers say that the generation is full of quick learners.
  • Millennials are the best-educated generation. The White House Council of Economic Advisorsstates that in 2013, 47% of 25 to 34 year-olds had attained some kind of degree after high school, while graduate school enrollment saw a 35% jump between 1995 and 2010.

Beyond compensation and opportunity, millennials are looking for a sense of purpose in the workplace. When they can’t find it, the new generation is taking matters into its own hands. A further study by Elance-oDesk—now Upwork—claims that79% of millennials would consider the opportunity to work for themselves. Meanwhile, Babson College’s 2014 Global Entrepreneurship report claims that in 2014, 18% of Americans between 25 and 34 were either running or starting new businesses.”

Interested in improving your retention of Millennials? Tribe can help.