The Solution to Retaining Your Best Millennial Talent
On my company’s intranet each employee has a profile that includes a photo as well as general information such as location, phone number, job title, and who a specific person reports to. The one space on the employee profile that isn’t automatically filled is a section where each person is given the opportunity to tell everyone “What I am Known for” in 255 characters or less.
If you spend even a few minutes looking through various employee profiles something becomes quite apparent; boomers stress their role and high expectations for the company, or don’t write anything since they must feel that their present position and “report-to chain” offer sufficient information, while millennials write about themselves and their passions as they relate to their work at the company and often add non-work-related insights about their lives.
Can you guess which is which?
Understanding the underlying reasons for this pattern can help solve many corporations’ problem in retaining their best and brightest millennials, thereby insuring each company’s continued success and relevance.
In short, the key to a company’s future lies in its current management’s ability to foster teamwork within all of the organization – especially among its millennials.
Millennials are often referred to as the “connected” generation for a reason – we entered our careers with the ability to be connected to our jobs 24/7 through smartphones, laptops, tablets, etc. Thus unlike other generations, we never separated work from our personal lives since work for millennials has always been anywhere and anytime we have a wifi connection. Our professional and personal worlds don’t start and end, but blend together. And so do our relationships with one another.
Because millennials are so used to the instant trust and accessibility of the internet we grew up with, we enter into and form effective teams quickly. As team members we expect everyone on the team, including senior leadership, to be just as accessible and responsive to us since we are all on the same “team”.
This appreciation for a self-fulfilling “team work mentality” is a definitive aspect of our personalities. It is why so many millennials join small, goal oriented startups predominantly comprised of other millennials, sharing a team approach and exhibiting little sense of any established hierarchy. Simply, millennials enjoy sharing the drive and desire to succeed with like-minded individuals, no matter what age or position.
It is widely accepted that startups are successfully disrupting industries dominated by large corporations because most startups consist of forward-thinking millennials who seek to shape the future.
So what must you do now to retain millennials and insure your company's success? The answer lies in catering to the very nature of our generation by establishing a company-wide sense of inclusiveness via trust and a team approach, where everyone can contribute and be recognized regardless of their title, division, physical location or generation.
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Big tech is making its opening moves into the health care scene, but its focus on tech-savvy millennials may miss the mark.
- Companies like Apple, Amazon, and Google have been busy investing in health care companies, developing new apps, and hiring health professionals for new business ventures.
- Their current focus appears to be on tech-savvy millennials, but the bulk of health care expenditures goes to the elderly.
- Big tech should look to integrating its most promising health care devise, the smartphone, more thoroughly into health care.
Turns out pushups are more telling than treadmill tests when it comes to cardiovascular health.
- Men who can perform 40 pushups in one minute are 96 percent less likely to have cardiovascular disease than those who do less than 10.
- The Harvard study focused on over 1,100 firefighters with a median age of 39.
- The exact results might not be applicable to men of other age groups or to women, researchers warn.
Here's why universal basic income will hurt the 99%, and make the 1% even richer.
- Universal basic income is a band-aid solution that will not solve wealth inequality, says Rushkoff.
- Funneling money to the 99% perpetuates their roles as consumers, pumping money straight back up to the 1% at the top of the pyramid.
- Rushkoff suggests universal basic assets instead, so that the people at the bottom of the pyramid can own some means of production and participate in the profits of mega-rich companies.
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