Apr 24, 2019 in Viewpoint
Millennials, the secret weapon in the War for Talent
Millennials are now playing the biggest role in the War for Talent. To win this war you must first understand your target. This campaign, which we could call “War for Talent: Millennial Edition” will help you understand the workplace needs and behaviors of a generation that's so full of promise.
As we mentioned in our EDGE Olympic case study, competition to attract talent is at an all-time high. With unemployment rates hovering below 4%, the competition is tough and employers are finding they need to get creative to hire the best of the best. Also, the largest talent pool is shifting from industrial to emerging markets. Perhaps most informatively, China will overtake the US as the country with the largest single pool of educated talent within just ten years - and India may as well.
- High performers are 400% more productive than average ones.
- The average cost to hire an employee is €4,129, and it takes around 42 days to fill a position.
- Talent shortage generates losses in revenue of €320 billion.
How do companies win the War for Talent?
Millennials are playing the biggest role in the War for Talent right now. Winning this war means first understanding your target. There are a few things we’ve learned about their workplace needs and behaviors. It’s easy to be swayed by all of the negative statements you are constantly hearing about the millennial generation. Instead of saying ‘they don’t know what they want’ or ‘they’re not able to concentrate for long’, look at the potential this generation has to offer. They can be the most ambitious, productive and efficient employees in the office. Or as Forbes says, ‘this idealistic generation may just be the best thing to happen to your employee wellness program.’
Nienke van Dijk,HR consultant & Millennial Coach.
"Millennials are driven by their gut feeling and they focus on doing what they love.”
Millennials and workplace technology
Mapiq visited the Future of Work event that was organised by School for Millennials 3310 and TQ to learn more about millennial trends in the workplace. “Millennials are driven by their gut feeling and they focus on doing what they love,” asserted Nienke van Dijk, HR consultant & Millennial Coach. These qualities result in the perfect employee, once they are put into the right role. IBM Chief Technology Officer, Gerard Smit, stated, “This generation is able to cope with change”, referring to the changing technology in the workplace. Employees brought up in the age of tech are more likely to adapt to the changing work environment.
There is a clear link between the War for Talent, millennials and workplace technology. But how can you attract your millennial employees to your business and connect with the ones you want to retain? What kind of workplace wins the War for Talent and how can you support their work-life balance?
During this campaign, we will look at the following to help understand the millennial mind in the workplace:
- Insights into the most important aspects of what millennials need during their workdays.
- How important is the famous Google Slide to millennials?
- What’s the ideal work-life balance for this group of workers?
- We learn from the best. What do our own millennials think of the stereotypes about them? What makes them productive and happy at work?
- Tips and tricks how you can make sure your smart workplace supports millennials.
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