A Guide For Business Executives: How To Hire AND Retain Millennials.
June 16, 2014 Leave a comment
How to hire and retain Millennials is a great combination of topics that few business executives are yet exploring – but it’s an approach that makes a big difference to your competitive structure and profitability. Traditionally, employee retention is the only focus.
IF you have the right people in place, then focusing on employee retention is great… otherwise, focusing only on employee retention is like trying to use all-season tires on a racecar. No matter how much you care for them, you’re not going to get the performance you need… and they aren’t going to last.
But when business executives learn to change the way they hire people and combine that with Multigenerational communication and retention, great things happen. In my training workshops I’ve seen first-hand the energy that builds as a team of business executives learn BEI (Behaviour Event Interview), best practices and work together to re-evaluate their hiring and retention strategy. This process begins with changing the way all interviews are conducted and moves onto learning what’s important to Millennials.
Combining hiring best practices & employee retention is very effective.
What Can Business Executives Do To Hire AND Retain Millennials?
Step 1. Change the way all interviews are conducted.
Even if your organization is using personality assessment tools – your success is improving only a small amount. Your interview needs to consistently look for AND measure the core competencies you need within every candidate. Learning to conduct a BEI does that for you.
A BEI system provides a consistent, fair and effective interview system. BEI ALSO uses a reliable assessment tool so that each candidates’ strengths and weaknesses can be scored and measured without bias – for example: Subject Matter Expert, Team Player, Creativity – you can measure them all.
In addition, being able to defend your final decision is becoming increasingly important for all employers. Because of the interview assessment scorecard, BEI (Behaviour Event Interview), provides consistent, quantifiable proof why the successful candidate was chosen. There is even more value that BEI provides and if you’re interested lets connect, because I’m happy to discuss these… and I could go on and on and on.
Step 2. Learn what’s important to Millennials and use BEI to add further insight.
Most Millennials are roughly 20 to 40 years younger than their bosses. The rate of technological and social evolution is staggering. Products and services that were leading edge five years ago are commonplace today; tablets for example.
So it’s no surprise that Millennials (and the newly emerging Gen Z workforce), don’t want to be rewarded the same way their parents… or even older siblings do. Even more challenging – their needs may change year over year.
The solution is to treat each person (no matter what generation they’re from), as an individual and ask him or her what’s important. Lets say you’re doing quarterly or semi-annual reviews (which is another best practice when working with Millennials). This is a perfect time to have a discussion about their personal and professional needs – as well as your corporate needs. Ask them if they feel:
Do they want to be rewarded with:
- Workplace Flexibility
- Bonus Potential
- Additional Work Responsibilities (As an opportunity to develop / grow)
A BEI system that I’ve taught to many business executives and teams empowers everyone within the organization to conduct successful interviews. Learning how to hire and retain Millennials provides an organization with a consistent – reliable approach to hiring the right people for the work – turning your job opportunity into a career move for the right candidate.
It is expensive for employers to hire and train new employees. Hiring and retaining the right person makes good business sense.
Happy communicating, harmony and email reading.
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Bruce Mayhew Consulting facilitates courses including Email Etiquette, Managing Difficult Conversations, Multigenerational Training, Time Management and Mindfulness.
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