{"id":482,"date":"2022-04-26T16:07:45","date_gmt":"2022-04-26T16:07:45","guid":{"rendered":"https:\/\/www.jacquelinecripps.com\/?p=482"},"modified":"2022-04-26T16:08:27","modified_gmt":"2022-04-26T16:08:27","slug":"millennials-in-the-workplace-engage-retain-recruit","status":"publish","type":"post","link":"https:\/\/www.jacquelinecripps.com\/millennials-in-the-workplace-engage-retain-recruit\/","title":{"rendered":"Millennials in the workplace: Engage, Retain, Recruit"},"content":{"rendered":"\n
The cost of not investing in the millennial workforce\u00a0\u00a0<\/strong><\/h5>\n\n\n\n

It\u2019s no secret that workforce dynamics have changed. You only need to look at the average office these days to see the increase in those aged under 40. In fact, for some industries, we see offices who only<\/em> have employees in their late 20\u2019s \u2013 to 30\u2019s.    <\/p>\n\n\n\n

But let me ask a question: \u201cWith that increase, what have organisations done to accommodate or adapt to these new workforce generations and ways of working?<\/em>\u201d<\/p>\n\n\n\n

Putting Covid-19 aside \u2013 because let\u2019s face it, this left-of-field missile shunted every organisation to change ways of working \u2013 my question stems beyond that. It\u2019s one thing to change ways of working, but it\u2019s another to understand<\/em> your workforce.<\/p>\n\n\n\n

While we read and hear a lot about millennials, the question of \u201cWhy is it so important for organisations to understand?\u201d seems to fall on deaf ears. <\/p>\n\n\n\n

If I were to reframe this and ask instead, \u201cWhat is the cost of not<\/em> investing in understanding your millennials?\u201d<\/strong> it would probably pique your interest. <\/p>\n\n\n\n

As our Baby Boomer population continues to retire, stats indicate that 70% of our workplace now consist of Generation X and millennials. The projection rate of growth of millennials is set to increase steadily in the next five years. Which means that the growth rate for most organisations will be driven \u2013 and lead by \u2013 a millennial workforce.<\/p>\n\n\n\n

Great news for organisations who have invested in their millennial workforce and built cohesive, high performing teams. Huge<\/em> risk for those organisations who haven\u2019t.<\/p>\n\n\n\n

The shift in dynamics has given rise to pain points and frustration across most industries. Many of which are having impacts to: communications between clients and colleagues, recruitment and attracting quality talent; retention rates; levels of engagement; training and maximising potential; interpersonal relationships; productivity, success, and overall bottom line.  \u200b<\/p>\n\n\n\n

W<\/strong>hat is<\/u> the cost of not investing in understanding your millennials?<\/strong> <\/em><\/p>\n\n\n\n

In some cases, organisations who are choosing to ignore or turn a blind eye, are being faced with huge risks that include: <\/p>\n\n\n\n