As the percentage share of younger workers in the workforce continues to increase, millennials are starting to have a bigger influence on the organisations hoping to employ them. This is especially true as they move into leadership roles. As is the case with every generation, there are certain characteristics common to millennials. Only recently have organisations begun adapting themselves in order to attract and retain these employees.
There are often stark contrasts between the wants and needs of different generations, but the companies that will thrive in the coming years are those who prioritise the accommodation of millennials without marginalising other employees. An organisation failing to adapt to this shift in the labour market will see themselves losing market share.
Needs of Millennials
So what do millennials need? Simply stated, millennials want and need…
- Increased knowledge of their strengths and weaknesses
- Increased opportunities and resources for professional development
- Increased feedback about their performance
All 3 of these points tie into research conducted by Forbes Magazine. Ty Kiisel, a contributor to Forbes Magazine, reports that 80% of millennials want regular feedback and 75% of them want a formal mentor.
Identifying and selecting high-potential candidates
We are facing a talent war.
Great leaders are hard to find and even harder to retain in a competitive global economy.
Now more than ever, identifying, developing, and engaging high-potential candidates is an important part of every successful organisation’s talent strategy. They know that their culture is driven by their leaders and they also know that high-performing leaders can be associated with all sorts of positive outcomes (e.g., increased retention of staff, higher employee engagement scores).
Download our white paper to find out:
- What are indicators of potential?
- How to identify and assess for potential