This is the second in a three-part itelligence blog series exploring how HCM technology can help organizations attract, retain and manage the newest generation of employees. In part one, we explored how recruitment management tools are helping companies reach the right candidates on the right channels. In this post, we will discuss how other technology can help companies keep their talent engaged and invested.
Millennials may be new to the workforce, however, they are not the only generation that wants more from a job than a paycheck. Just like other generations before them, millennials want to feel they are a part of something bigger, that they are making an impact through their work, and that they are doing their jobs well. At the same time, this generation has grown up in the age of the Internet, email and easy mobility. As a result, they know and understand technologies that other generations may have stumbled with or been slow to adopt, and they realize what they can accomplish away from the office. Millennials want to work on their terms, from anywhere and on their own hours.
Often, it’s the employees who are empowered to work on their own terms who give 100% to an organization. These employees typically take on more projects and meet deadlines faster, simply because they are happy. Not every company can support a remote team of flexible schedules, but all businesses can work to empower their employees and engage their teams to make an impact.
Understand the Big Picture
At every level and in every industry, it is critical for employees to understand their company’s strategic goals and objectives. From the intern fresh out of school to the executive getting ready for retirement, employees want to feel their work is the part of something larger than their unique tasks. Using performance management solutions like SuccessFactors Performance & Goals, managers and human resources professionals can develop and align goals to help employees not only see how their work affects the full organization, but how they can improve to support the greater effort.
See Inside Success
Not unlike other age groups, we’ve heard that millennials crave feedback and require continuous guidance in order to move forward. Unsurprisingly, coaching is a key aspect for driving growth at all levels, and contributes to employee engagement and overall success. HCM solutions help move this practice from a one-off conversation to an ongoing effort, enabling employees to track their progress and make adjustments in real-time based on feedback from supervisors.
Of course, feedback cannot exist in a vacuum. Managers need to understand their employees’ workloads and review their performance in context to provide real insight. Today’s tools go far and beyond performance reviews, putting employee performance in perspective amongst colleagues and team members. This provides managers with the visibility they need to identify top performers and future leaders, and enables them to better motivate and engage their best employees.
As millennials become an even larger portion of the workforce, companies need to retain this talented generation and groom tomorrow’s leaders, or risk losing out both now and down the road.
Part three of this blog series will look at the ways technology is improving talent management and career development processes.