Recruitment, Development and Retention of the Millennial Employee

Whatever happened to staff loyalty to the Company? Interesting question isn’t it?

You could equally reverse this and say ‘whatever happened to the Company’s loyalty to the employee’ It is very much a two way street.

The fact is that times have changed. The days of 30-year loyalty awards combined with the presentation of a tankard or watch (if you are lucky) are pretty much gone and someone leaving University today will expect to have maybe 10 – 15 different employers before they retire.

The impact of this change in approach/ attitude on business will be significant too. Every progressive business needs to employ good talent. Good talent stimulates business and positively affects the status quo. Business needs people who can make a difference to an outcome, who can influence things positively. But the people who can do this will be well aware of their ability to impact things and make a difference and also, in these days of easy access media, see other opportunities that are ‘out there’ for them to progress in their career.

S what should the competent employer do to ensure that they can attract and retain the very best in millennial talent? The cream of the future. A few tips:-

1. Define the roles that you need to fill clearly and have specific accountabilities and responsibilities for those roles before you look for the talent.
2. Be conscious of the market value of the role you seek to fill and advertise a competitive package.
3. When the employee commences provide a comprehensive induction programme taking them through your business history, processes, customers etc. Get them into your company's 'DNA'.
4. Clearly define what you expect from them in the first year and beyond.
5. Illustrate what support in training and development your business will offer them ongoing.
6. Outline what success will look, sound and feel like for all concerned going forward.

Let’s take a look specifically at points 3 and 5 in the above list.

Point 3: Many SME’s do not provide any induction programme and this means that the new employee doesn’t really get the chance to understand the core business and to integrate at an early stage. This can soon turn into early disenchantment with what they have entered into, so it is worth investing in getting your processes clearly defined and written down if you have not done so already. By doing this you can ensure that all employees can go through the same process and have the same solid start. Have an induction check list for all. It will pay you back handsomely in terms of employee satisfaction.

Point 5: To keep good people (the people who really can make a difference) you will need to illustrate to them that you are committed to developing them and their career. Put yourself in their shoes and you will soon realise how important this is. Define the training programme with them. Have regular progress reviews and show them what the next stage in their career development looks like with you. The young, talented employee of today will also want to learn using the very latest in learning tools online and through their various devices. E Learning facilities (watch our announcement for January 2018) allows them to learn remotely and in their own time. The result is that the employee feels that ‘I am developing all of the time’ and that ‘my company is interested in my development’. This approach will not always keep the best performers, but you will certainly keep more than if you don’t act. This will be to the immense benefit of your business.

If you are serious about recruiting, developing and retaining good people and want to talk about these challenges or (from January 1st 2018) want to see and hear what our E Learning programme can do for your business and employees, get in touch with me directly at david.t@tinderboxbusinessdevelopment.co.uk or call me on 0774 7023610 to find out more.

A Merry Xmas and a prosperous New Year to you all from Tinderbox.

David Turner

Managing Director