Retention and the New Generation of Employees – HR Affiliates Blog
Big changes in the workforce are underway. Baby Boomers have dominated the labor market for over three decades, working alongside their GenX colleagues. As Baby Boomers start retiring, the next generation of workers are stepping into management in greater numbers – Millennials. These new faces will take on leadership roles and must learn the organizational knowledge needed to succeed. Each generation brings its own perspective, strengths, and expectations to your work environment. Are you prepared to make this transition? HRA can help employers smoothly transfer organizational information to the Millennial workforce.
Though change can be stressful, it also encourages new ideas, perspectives, and strategies. Boomers are considered to be loyal, hardworking, and motivated by professional accomplishments. They value hierarchy and adhere to traditional styles of leadership and work. However, Millennials have a different attitude toward their careers and the workplace. They are bold, intuitive, and initiators. They value sincere communication and relationships with their supervisors who act as role models, not dictators. They prefer to engage in a variety of tasks and are excited to learn new skills that could result in promotions.
Who’s bridging this gap? Your Gen X leaders in the workforce right now. Members of Generation X place a high value on work-life balance; they are less dependent on their employers than their Boomer parents were on their employers. Many Gen Xers manage their time carefully in order to accommodate their families, passions, and other interests. Your Gen X team can be a great resource coaching and integrating your younger workforce to meet the needs of the organization while pursuing their personal mission, vision, and goals.
By 2030, Millennials will be the largest demographic in the labor market. Employers should be ready to make necessary adjustments. By adapting to the new workforce, they can encourage job satisfaction and loyalty. According to Senior HR Consultant Amy Olds, “Boomers, their loyalty, and years of knowledge are leaving the workplace in droves. Organizations need to recognize what generations will dominate their workplace or they will be left behind in the talent retention game.”
We can help employers better understand this new workforce, their values, and how to shift organizational leadership and knowledge. If you aren’t working on succession planning yet, it’s time to get started. Contact HRA for more information on the steps you can take to make a seamless transition and promote job retention.