Headquartered in Addlestone, UK, Michael Page is one of the world’s leading professional recruitment consultancy companies specializing in the recruitment of permanent, contract and temporary positions on behalf of the world’s leading corporates by assigning an expert on their specific industry to be able to offer expert advice to both employers and job seekers.

There has been a visible shift in the workforce over the last few years. The world watched as the baby boomer generation took a back seat and the new millennial generation claimed center stage. The next decade will see the rise of the millennial workforce to a significant 75 per cent. The HR community across the globe is now trying to decode this seemingly restless workforce with a mind of its own.

Millennials – the section of the population that falls within the 18-35 age bracket – want to work for companies that embrace creativity and skill development. As an astute manager, you would do well to acquaint yourself with this vibrant, sometimes impulsive workforce by adopting the following simple tactics.

Connect Right from the Start

Managers should develop a strong connection right from the early stages of the interview process. They should extract the information about their hobbies and passions in order to connect with them on the basis of shared values. If the candidate expresses an interest in volunteering, the manager can use this opportunity to highlight corporate social responsibility programs carried out by the firm.

This is also the best time for managers to evaluate if the millennial in question is a right fit for the company, team or office environment. For example, trying to shoehorn a millennial who values flexi-hours and the ability to work from home may not be a good fit for an environment that prioritizes regular office working hours.

Adopt New Talent Management Strategies

Managers need to face reality; people don’t stay in the same job as long as they used to. To gauge talent and retain it as long as possible, you need to be an employer willing to go that extra mile. The key is to position yourself in such a way that when somebody moves on from their role, you’re not left completely exposed. You need to ensure that you integrate well-defined learning programs

and mentoring systems that are more academically structured. It is also crucial not to go over-board with these programs, as work-life balance is very important to millennials.

Create a Strong Succession Plan for Key Positions

These days, you don’t just need a plan B but a plan C, D and E as well. The fact of the matter is that people will move and change jobs. There is a dire need for a contingency plan to fill in key vacancies and gaps. Leaving these unoccupied will cost you considerably more money in the long term. It is imperative to be flexible and think of solving the problem in multiple ways. If you have this in place, you’re less likely to be caught by surprise.

Develop Individual & Management Development Plans for High Potential Talent

If you want to retain your high potential employees, you need to give them opportunities to maximize their performance and advance their careers. When a key position opens up, use your established talent pools to identify qualified internal candidates with the right skills and competencies to step into the role. Armed with this information, you’re ready to assign top employees to appropriate talent pools for development.

Formulate Precise Career Frameworks for Critical Roles in the Organisation

The convention of setting up a framework and expecting people to adhere to is passé. This top-down way of engaging with employees will be a hindrance to development. The trends are shifting, as more companies move towards situations where they are looking to develop frameworks with the help of employee feedback. The millennials need to feel as though they are stakeholders in the decision-making process. Although the idea of conducting regular workforce surveys is fairly nascent in India, managers are slowly waking up to their effectiveness.

The Hierarchy Question

There is a huge generational disconnect between top management and the rest of the workforce, and this can sometimes cause problems. Millennials prefer a culture that is more relaxed and less formal. It is of paramount importance that you maximize the talent of the millennial workforce, as they approach change in a far more mature manner. Fostering clear communication between top management and employees on the future growth plans of the organisation and integrating multi-centered decision-making is becoming increasingly significant.

Design New Compensation Incentive Programs Linked To Performance & Value-Add

You will need to revisit motivational tactics to better suit the emerging workforce. Rather than financial reward, the millennials look for other sources of motivation such as a chance to prove their leadership skills after a performance-based appraisal. They prefer value-additions to increments, are often willing to put in long hours if need be, and are the most vocal.

Overall, millennials shouldn’t be treated differently; the current workforce has more expectations from an employer than previously. As part of your retention policy, ensure that you are implementing strategies that will help you maximize output from the millennial workforce. They are the most technologically savvy, entrepreneurial and the least financially committed individuals. Throw new challenges at them and watch them grow.

It is of paramount importance that you maximize the talent of the millennial workforce, as they approach change in a far more mature manner