This is the first in a three-part itelligence blog series exploring how HCM technology can help organizations attract, retain and manage the newest generation of employees.
We’ve all heard the same headlines; the millennials are coming, and they have different needs and work differently. Millennials now represent the largest generation in the workforce, and businesses will need to continue to adapt for success. Many companies remain unsure how to respond to these newest members of the workforce, let alone how to strategically attract, retain and manage millennials. This challenge highlights the more important reality that today’s businesses are unsure how to grow their organizations in general.
The truth is, we’re not just coping with a new generation’s preferences, but an enterprise-wide shift in how we do business. In this blog series, we’ll explore how the right Human Capital Management (HCM) approach and technology can help businesses adapt to shifts in the workforce, from recruitment through succession.
Today, organizations must run faster, simpler and, ultimately, in real time. Just as they must grow their infrastructure and improve products to meet new standards, they also must adapt to a changing workforce. As the boomer generation moves toward retirement, companies are adjusting to an influx of millennials. However, attracting and recruiting a younger workforce often brings challenges of its own.
Find Candidates Where They Search
Newspaper sales have greatly declined with the growth of digital news channels, and naturally printed want ads no longer cut it. To attract millennial workers, businesses need to understand where their prospects are looking, and engage them on their terms. From search engines to social networks, recruitment now requires a multichannel approach to succeed.
Recruiting marketing solutions like SuccessFactors are designed to help companies attract candidates outside their internal networks and keep them engaged throughout the process. Businesses can apply proven marketing tactics to drive traffic to job postings, optimize career sites, and even automate candidate engagement. For recruiters, powerful analytics make it clear which sourcing tactics work and which ones don’t, allowing them to optimize spend.
Help Your Team as They Help You
Before advertising an open position, many companies first look to internal referrals from their current team. As more millennials join the workforce, these internal processes will also need to evolve and become more user friendly. Using social referral tools, current employees can share job postings with their networks to reach an expanded pool of potential applicants. Simultaneously, this eases the process for recruiters, simplifying the referral vetting process and helping them understand how a prospect is connected to the current team. As candidates move through the interview process, SAP Jam, SAP’s cloud-based social media platform, can be integrated to streamline internal discussions as candidates are vetted.
As a business engages with prospects in more ways and across more channels, they will face a growing need to organize candidate information, understand trends and manage the results. SuccessFactors Recruiting is delivered as part of the SuccessFactors HCM Suite and automatically integrates recruiting decisions with internal HR processes to provide a seamless information flow.
Over time, millennials will make up a majority of the overall workforce, and the methods employed to reach and engage them will become the norm. Beyond bringing in talent, every aspect of HCM will need to evolve, and technology will be the key to success.
Part two of this blog series will examine how companies are retaining millennial talent, and how technology can help keep new workers engaged in the business.