Attracting and retaining talent in a competitive market

WITH INCREASING SKILLS SHORTAGES AND FIERCE COMPETITION FOR TALENT IN A POST-PANDEMIC WORLD, IT’S A GREAT OPPORTUNITY TO LOOK AT THE WAY WE ATTRACT YOUNG PEOPLE TO THE HIRE INDUSTRY AND RETAIN THEM FOR THE LONG TERM.

There’s a lot of talk at the moment about generational change in the workplace. With Boomers and Generation X moving through management roles and becoming business leaders and owners, it’s the next generation — the Millenials (people born between 1980 and 1996) — who are in the spotlight. But with a reputation for jobhopping and not forming attachments to organisations or institutions, Millenials are often considered the hardest generation to retain.

What makes Millenials tick?

What can we do to attract, engage and retain Millenials? It starts by learning more about their motivations, needs and expectations. Fortunately, there’s been a lot of global research into what makes Millenials tick and it comes down to a few key considerations.

• They want to be engaged, stay informed and have ongoing conversations. The way they communicate (texting, tweeting, liking, Facetiming, etc.) is in real-time with a focus on feedback.

• With the shortage of skilled people across many roles, Millenials move jobs because they’ve got opportunity to earn a better salary elsewhere for the same work.

• They expect a culture of diversity and inclusion when they enter an organisation. According to Deloitte’s research on Millennials, 69% of them also believe that when senior management teams are diverse, the working environment will be motivating and engaging.

• They’re extremely active on social media networks. Millennials in the workplace can be your strongest brand ambassadors, helping you attract new talent, build more brand awareness and generate more high-quality leads.

• They want to advance and learn new things in order to progress in their careers and expect their employers to offer them professional development opportunities, coaching, mentorship and chances to upskill.

• They also want their core values to align with the values of the business they’re working for. They aspire to make a positive impact and want to work for an employer that puts the wellbeing of people and planet above profits.

SAT Managing Director Aileen Hiskins with Operations Manager, Paula Lloyd.

Millennials represent a change in how we work and view work. While they’re ambitious, have a strong work ethic and want to leave a positive impact on the world, they have a reputation for jobhopping. The good news is that in hire, Millenials tend to stay within the industry, despite leaving a company in search of better salaries or conditions. For Millenials that stay in a business, it’s because they’ve got great leaders, flexibility in how they can work, and access to opportunities to develop professionally and build a career.

Investing in Millenials

There are a range of professional development programs available to HRIA members, designed to keep young people engaged and motivated to build a career in hire. The Young Professionals Network offers a range of networking activities while the Young Professional Development program is a great opportunity to invest in younger employees. Ensure they’re on your professional development radar!

Finally, talk to SAT. For eight years, we have proudly worked in partnership with the HRIA and its members to change perspectives and create opportunities through training, education and selfawareness. We’re focused on helping members become better leaders so they can lead and engage the next generation for the long term. As for the Millenials in your team? We can provide training and professional development to ensure you retain and grow your Millenials for their next role in your business.

To find out more contact SAT: info@sa-training.com.au or visit https://www.sa-training.com.au/