A recent article from Harvard Business Review discussed the importance of corporate culture and how culture drives corporate success. Although an organization can experience periodic success without a healthy culture it is nearly impossible to sustain long-term success. This is especially true when you consider how to engage Millennials into your culture.
Millennials have a different set of values when considering where to work. Especially compare to previous generations. If you are having trouble attracting, engaging, and retaining Millennials into the workplace, then we would encourage you to evaluate how your company rank compares to companies that are experiencing great success with Millennials.
Some cultures are intentionally formed, but most simply evolve over time without thought. If your goal is to experience success with your Millennials, then being intentional is a must.
3 Steps to Attracting, Engaging and Retaining Millennials
1. Define your core values.
Does your company have clearly defined values? And we don’t just mean a written document in a binder. Millennials desire to work for companies who articulate a belief system they resonate with. Are your values defined and reviewed during the hiring process to assess whether the potential hire is a good fit? Why would you want someone who doesn’t believe in what you believe? Are your values reviewed regularly? Are examples provided that shows how your company lives these values? Are employees rewarded when their performance is congruent with your company values? If you get this process wrong you have no shot of having success with your Millennials.
2. Define your core focus.
Millennials more so than any previous generation want to be a part of a company that has social consciousness. What this means is, it is important to them to work for a company that improves people’s lives and makes the world a better place. They want their work to matter.
Does your company have a core focus? Core focus is best defined as what you do to improve your customers’ or clients’ lives. When you can clearly articulate your core focus, you will attract people who believe what you believe in. Many companies have a core focus, but very few inspire and lead their people based on their core focus. The result is a disengage workforce that sees their work as merrily a job not a passion. Getting this step wrong will result in poor attention rates and a disengage workforce.
3. Invest in your people.
A key buzz phrase for employees is work-life balance. For Millennials this concept can be a deal breaker. Millennial’s desire time and flexibility when it comes to potential employers. They rank their values higher than income and prestige. Companies that acknowledge this important distinction will experience great success with Millennials.
Millennial’s also value education. No generation has spent more time in the formal education process than Millennials. Employers who invest in their people and are concerned with helping their employees grow personally and professionally will become the employer of choice. There is a mutual benefit to investing in your people because growing people grow businesses. It creates a deep sense of loyalty from the employee. Why would they want to leave a company who truly is interested in their personal well-being?
If your company does not have a current strategy to create work-life balance or investing in your employees’ growth or lack the solution to your millennial problem, call us and let OolaCorporate Training help you!