By Danya Williams, Marketing Manager, Hiring Boss
Millennials are increasing their impact within offices globally. By 2020 they are predicted to make up 46%, almost half of the workforce. Millennials are significant because they are known for job hopping every 2-3 years in their search for meaningful work, cultural alignment and getting what they want.
Given organisations will find this prediction worrying, Jim Stroud, USA suggests companies should consider the following:
- Find causes that align with your company DNA and identify creative ways to join them.
- Lean heavily on employee referrals or ‘acqui-hire’ the talent you need i.e. the new trend for buying competitors for their company’s founders or key talent.
- Allow employees to BYOD to increase productivity and empowerment (bring your own devices).
- Engage employees in things they are involved in creating.
Smart companies who are predicting the threat of employee churn are now looking into Gamification as a way to combat this. Used for years now in external marketing, Gamification is predicted to help companies promote employee engagement and add a new dimension to doing fun and challenging work.
Gamification will be used in training as well as performance reviews and workforce planning to encourage the growing numbers of millennial employees to be more engaged at work.
Non-FTE’s but Entrepreneurs
We have already seen a significant increase in companies contracting the talent they need for specific project based assignments and we anticipate this trend to gain momentum in 2013. The next few years will see more people with distinctive skills setting themselves up as independent contractors and small business entrepreneurs by identifying niche services they can provide to the wider business community.