Did you know that when you Google “How to improve millennial retention rates?” over one million different search results come up? This is because a vast majority of businesses these days are missing the mark when it comes to communicating with the working Millennial generation. Millennials communicate differently, instantly, and often without talking, and they expect continuous feedback. Businesses need to find a way to adapt and coach communication styles, leverage the free give-and-take of information, provide a great work experience, and avoid employee turnover.
How can we engage the Millennial generation?
First, businesses need to make sure the alignment and integration of behavior, processes, and technology are in synch. When they are not, Millennials suffer more than baby boomers. This is not just millennial specific; it’s just simply their stage of life and stage in career.
Second, Millennials rely on engaged managers. It’s been said that, “People join companies but leave managers.” While some managers can be taught, many management behaviors are learned through trial and error. However, today’s generation has little patience for error when alternate employment (and their entire network) is literally one or two clicks away.
We recently attended an HR conference and found dozens of firms giving presentations about “how to effectively manage,” but none could explain what “effective” consisted of.
The questions your business should be asking are:
●What’s a good business process?
●What does “good” look like, and how do we get there?
●What is “Class A”?
●What are the business behaviors necessary to make a business succeed?
●How do I enculturate these behaviors into a sustainable, forward-looking business planning process?
These issues truly bridge the gap between HR training, behavior change, and true business processes being used to run the business.
Finally, a state-of-the-art, well-implemented Class A Integrated Business Planning (IBP) process needs to be set in place. A well-integrated IBP process addresses enablement, empowerment, “good” managers, good business behaviors and processes, expectation management, and a good environment to work in. Well beyond S&OP, a Class A IBP process takes an organization into a behaviorally led, successful arena. This helps Millennials professionally feel the connection, communication, and engagement they expect elsewhere in their lives.
Read more about how you can engage the Millennial workforce though IBP in this white paper by clicking here: https://www.oliverwight-americas.com/system/files/private/resources/wp-ibp-millennials-dixon.pdf
Watch a webcast on this topic.