HR Directors will be facing an array of challenges as we progress through 2017, from the changing global economic landscape to uncertainties over Brexit. However, retaining millennials in the workplace continues to be the biggest challenge that organisations face today, which is having an effect on profitability and all-round efficiency.
Employee engagement is vital to the success of any organisation. It’s how staff collaborate, feel more involved and ultimately add value to their respective employer both in the short term and long term. Without feeling engaged in the workplace employees are more inclined to job-hop to other companies, which is becoming increasingly accepted in today’s world.
There are three key reasons why this demographic are failing to commit to an organisation in today’s job-hopping era, which are a lack of training & development, inflexible working hours and working in unsociable environments. With 60% of Millennials now leaving their jobs within the first three years, costing organisations in excess of £30,000 to replace, it’s important that HR teams find ways to prevent these situations from occurring.
Digitally-savvy Millennials live in a society where technology is key to completing tasks, from accessing documents to ordering local takeaways. Subsequently, they not only rely on mobile devices, tablets, apps and wearables to achieve these tasks every day, they now expect them as tools in the workplace to fulfil their duties.
70% of organisations now have strategies in place to support the digital transformation of the workplace
Whilst implementing digital technology, it’s also important that HR professionals consider the Gen Z generation who’ll be shaping organisations in the years to come. Whilst Millennials are regarded as technology pioneers, Gen Z (13-17 year olds) are known as technology natives, who from an even younger age have been accustomed to using mobiles and apps on a daily basis.
Staff today are looking for job opportunities at innovative organisations with digital policies in place, and despite 70% of organisations now having strategies in place to support the digital transformation of the workplace, many are still falling short. Here’s how technology can directly address these issues:
7 out of 10 employees claim that training and development opportunities influence their decision to remain with a company, and one in three blame uninspiring training as a barrier to their personal development. As one of the main reasons why Millennials decide to leave their roles, HR teams should be focusing on alternative methods of delivering training which provides value to workers.
Utilising the latest technology for training purposes has the capability to transform what is traditionally regarded as a laborious task, into a more engaging and immersive experience for all. Technology can be leveraged for industry-specific training (such as property, construction or retail), to the more generic programmes such as Health & Safety and ethics training. For more information on dedicated training apps, click here.
Interestingly, employees rank effective training 300% higher than cash bonuses. Although this offers obvious financial benefits to organisations, it means that there’s zero tolerance for outdated training in the eyes of today’s employees.
Flexible working is still a relatively recent concept adopted by businesses, which is being driven by the introduction of accessible 4G and the need for businesses to reduce office overheads without losing staff. However, Millennials are the biggest drivers behind flexible working, with 39% of wanting to be freelancers or contractors. They wish to work on their own terms, and there’s nothing that organisations can do about it.
HR teams are therefore embracing the idea that remote working can support their overarching businesses goals, whilst keeping staff happy. If workers are able to access company intranets, documents and real-time data on the go, this will guarantee that they all remain engaged and focused wherever they are.
Giving Millennials the flexibility they crave, combined with the latest technology that they can’t live without, will undoubtedly bring many benefits to businesses. So far 50% of organisations in the UK now adopt flexible working policies, with this figure set to rise further.
Socialising in the workplace is a must for both Millennials and employers, which can increase productivity levels and ultimately make employees more dedicated to their roles. And as they’re now utilising technology to socialise outside of the workplace, such as Facebook and Whatsapp, HR teams should be looking at adopting this internally.
Technology can be leveraged in a number of ways in the workplace to support internal collaboration and communication, such as mobile intranets and internal chat platforms. Even physical tech objects such as VR headsets and gaming consoles have the ability to unite employees, and ultimately add value to their employers.
Essentially, social technology ensures a level of connectivity between Millennials which can help achieve business goals, build and strengthen ties and there have a noticeable impact on engagement and retention rates. Without these policies in place, individuals are growing increasingly restless in their roles.
As many HR departments know, a well-designed workplace environment can be a powerful asset for retaining talent in a company. Today’s Millennials find themselves getting frustrated working for organisations who still operate using outdated processes, including the use of technology. This means that HR teams need to find ways of appealing to the masses if they’re to retain their skilled workforce, reduce costs and continue to remain competitive in their respective fields.
If you’re looking to keep your employees engaged, improve their training programmes and offer increased flexibility with apps, then get in touch with us today to discuss your plans. Or speak to a member of our team via LiveChat on bottom right-hand side of your screen.