Generation Y and Talent Management

Gain global insight into the interaction between young consumers in Generation Y and business

Thursday
Feb212013

Recruiting and Retaining Millennials in the Workplace

The entrance of Millennials into the workforce may present managers with several challenges, as they may have to adopt innovative ways to recruit and retain these new workers.

 Many companies have begun to establish formal mentoring partnerships between managers and young employees.  These programs are most efficient when they are structured and mentors go through formalized training.  Many Millennials may  want to have advising partnerships in which they can get feedback on their progress.  KPMG and PriceWaterHouseCoopers have found these personalized mentorships to be mutually beneficial for both young employees and the companies themselves.  As the Baby Boomers retire, young employees need to be trained in order to be the new company leaders.  Such mentorship programs, along with job shadowing, may help fill the voids left by the retiring Baby Boomers.

The United States military has also changed its strategies to meet the needs of its Millennial recruits.  Instead of having Army drill sergeants constantly yelling at recruits during basic training, these instructors perform most training tasks, such as running and marching, side by side with their recruits.  Recruits have reported that such initiatives helped encourage and motivate them.  The military has also modified its recruitment campaigns to include parents.  They market both to potential soldiers and their parents.  Recruiting officers are also instructed to meet with parents. 

Employers may need to realize that “helicopter parents” are not necessarily detrimental.  A recent study has reported that college-age children of “helicopter parents” tend to be more engaged and more likely to participate in projects that require independent research and intensive writing.  Some initiatives that may help companies retain and recruit these “helicoptered” children may involve dedicating part of a company’s website specifically for parents.  Parents may be worried that their adult children may just be a number in a large organization.  Companies may alleviate such concerns by engaging these “helicopter” parents rather than dismissing them.  Firms like Ernst & Young and Enterprise Rent-A-Car develop employer information for parents.  Southwestern and Office Depot have a special website for parents.  Merill Lynch would invite parents for office visits.  PNC Financial Services held events for parents of interns.  Vanguard and Stockamp sent job offer letters to parents as well as recruits.  Considering that twenty-five percent of college seniors review job offers with their parents, such initiatives may behoove firms.

Sources:  

Howe, Neil.  Millennials in the Workplace.  LifeCourse Associates, 2010.    

http://www.google.com/searchhl=en&site=imghp&tbm=isch&source=hp&biw=1280&bih=841&q=millenials+workplace&oq=millenials+workplace&gs_l=img.3..0i10i24.1406.7968.0.8096.28.23.4.1.0.2.353.3291.10j6j2j4.22.0...0.0...1ac.1.4.img.R3kPPcLNUYw

 

Tuesday
Nov062012

Millennials in the Digital Landscape

Michael Stanat, Global Research Executive at SIS International Research in Asia Pacific, was recently published in ESOMAR's Research World Magazine in October. 

You can access the article here.

 

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Tuesday
Jan242012

ROI and Mobile Assessments are Important to HR Professionals in 2012, Says market research firm SIS International Research

NEW YORK----(January 24)—SIS International Research, a Global Market Research & Consulting firm, has released its Talent Management Trends 2012 White Paper on Industry Trends in Human Resources Recruitment and Talent Management, based on the findings from a recent qualitative industry trend study across the United States among senior HR executives. 

Today’s Human Resources departments are being pushed in new directions, due to the continued jobless recovery, the expectations of the emerging Millennials in the workforce, as well as the introduction and refinement of new technologies. Companies are increasingly moving to online assessments, believing them to be less costly and time-consuming. In addition, corporate branding is becoming an integral part of the application experience. As a result, social media platforms are becoming an important tool to attract applicants.

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Saturday
Aug012009

US Employers Note Generation Y Skill Deficits

In a new survey by Experience, Generation Y is unclear about the necessary skills for success in their careers.  The survey explored the ideas of both employers and Generation Y.  Experience found that 54% of Gen Y respondents were unclear about exactly the skills considered desirable by employers.  But a large number of Gen Y respondents felt that they were not lacking necessary skills desired by employers.  This optimism contrasted with the reality of employers believing Generation Y was deficient in important skills.  Employers can take confidence in the study's findining that 97% of Gen Y respondents would take action to rectify their skill deficit.

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Sunday
May312009

Dump Your Staff and Retain their Knowledge

The title is only to be provocative.  Actually, a useful technology in HR has emerged alongside the challenges of an ageing US economy and massive layoffs.  That is the need to retain knowledge and expertise, essentially remaining in reach of productive ex-employees (without overhead).   Many large companies have created their own private company intranets whereby current employees and alumni can interact.  On these sites is information about the industry, consulting offers, networking, partnership possibilities and job prospects.  In return, these corporations seek to cultivate their relationships with retired or laid off workers.  Importantly it can also allow the company to reconnect with “rainmakers” who once owned or had access to clients and had expertise in a particular field.

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