Millennials make up the largest generation percentage of the workforce, approximately 35%, and they are also one of the least engaged with only 29% are engaged while 55% are not engaged, and 16% are actively - according to dynamicsignal.com.
This means that the biggest challenge faced by organizations today is, tp paraphrase the Sound of Music, "How do you handle a problem like Millennials". I will add that I do not see Millenials as a problem, they just have a different mindset and expectations so mastering the art of tapping into their potential is key. As a Millennial reading this article I would say that you also need to understand how the corporate world works and what you can do to promote yourself in a positive way that attracts attention for the right reasons.
Your most precious resource
Without a doubt, people are the most precious resource in any business - hands down! Without the people all you have is an empty box with no substance. People are what brings your business to life and make you unique within your marketplace. So why is it that there appears to be a reluctance to harvest the talent and invest in the growth of this resource? I hear all sorts of excuses like:
When you read these excuses, and there are many more, how does it make you feel? Have you heard similar ones within your organization? This is why the best people leave. They need to be appreciated. They need to be engaged in what they are doing. If there is no sign of investment in their growth why should they stay? It is not a problem with millennials, it is a problem with the conventional mindset that sates: If it ain't broke, don't fix it!
The most successful organizations are embracing development and they are harvesting the talent that exists within their workforce. They are benefiting from reduced recruitment costs because their turnover is reducing. It is said that the financial cost of replacing an employee is 90-200% of their annual salary when you take into account the hiring process, lost productivity, and training the basic skills. It is also proven that an engaged employee will be approximately 27% more productive and 85% less likely to call out. Imagine what a difference it will make to your organization if you had a highly engaged workforce who "Want" to work for you rather than "have" to work for you while they seek a better alternative.
If you want to learn more about how you can make this a reality in your organization download my brand promise brochure and then schedule your free strategy call where we can discuss options to take your business to the next level.
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