Wednesday, December 13, 2017

"Follow the Leader", Featuring Beverly Mahone

What should leadership do to attract and retain millennials? 

That's a great question!  First, let me say I believe some employers have a misconception
about millennials, their work ethic, and their habits.  Depending on what survey you read, you may be led to believe GenY is the job-hopping generation and they don't like following the rules and regulations.  I beg to differ! So, what should leadership do to attract and maintain millennials?

Provide great benefits 
This includes having an excellent company match for contributions into a 401K plan, along with education on the value of having such a plan, and what it means for their future. 

Offering a health plan, with free fitness club membership, shows your employees that you care about their health and wellness, As an added bonus, offer incentives for completing specific health-oriented goals (i.e. quit smoking).

Provide paid maternity leave up to 12 weeks.  According to PL + US (Paid Leave for the United States), 1 in 4 mothers are forced to return to work within 10 days of giving birth due to a lack of income coming in.  Add on top of that childcare expenses, and you will have unhappy employees who will be looking to quit or find another job.

A Student Loan repayment program is an excellent way to help millennials who are burdened with student loan debt.  According to a survey conducted by American Student Assistance, 76 percent of respondents said if a prospective employer offered a student loan repayment benefit, it would be a contributing or deciding factor in accepted a job offer.  By including such a benefit, you not only add value to your company's portfolio, but you may also find it won't be as hard to recruit and maintain millennials as employees.  It can be a win-win for everybody.

And of course, o
ffer vacation and sick time!

Flexible schedule
Offer a flexible schedule and work at home opportunities if applicable.  Not everyone believes in the traditional 9-5 anymore, so if you have employees who have proven they can get the job done no matter what time they start, make it an option.

Be transparent. 
Leaders who are transparent, more often than not, establish better relationships with their employees.  Keeping your staff in the loop, helps develop and build trust.

Be engaging and cut out the hierarchy.  Employee engagement can be difficult for some managers due to age difference, but taking some time to get to know your millennial employees will open the lines of communication to a greater degree.

Also, the best ideas given should always win out.  Just because someone has been with the company 20 years doesn't mean they an edge on those who started a year ago.  Leaders should always be looking for new, creative, and fresh ideas that will continue to move their company's bottom line.

Beverly Mahone is a veteran journalist, author, coach, and professional speaker. After more than 30 years in radio and TV news, Beverly created BAM Enterprises. Among her clients are Baby-Boomers and Seniors who are re-entering the job market. She also works with employers to help them understand how to recruit and train Millennials. Beverly has appeared on numerous radio and TV talk programs including MSNBC. She has been featured in the New York Times and has written five books including the Amazon Best Sellers How to Get on the News Without Committing Murder and The Baby Boomer/Millennial Divide: Making it Work at WORK.
She has written for or been covered by the Huffington Post, Forbes, and Newsweek magazine.

Connect with Beverly: LinkedIn | Website | Twitter

1 comment:

  1. Great points Beverly. But these are also good ideas for all employers of every group. Treat the workers fairly and with transparency and they will be loyal.