Are you developing a next generation strategy?
There is little doubt that, as time and technology continue to march onwards, adjustments to your organization’s strategic planning must be made regularly to keep pace. As the new generation of workers – known as generation Y or millennials – move beyond their education and into the professional realm, they are seeking employment in industries that meet their modern skills and expertise.
Attracting the highest calibre of talent has always been a feature of smart business strategy, but with the tech-savvy, increasingly mobile workforce of today, it’s more crucial than ever. According to the Commonwealth Scientific and Industrial Research Organisation’s (CSIRO) report, titled Tomorrow’s Digitally Enabled Workforce, several factors are contributing to a particularly challenging and fluid employment market, including growth in computing power and device connectivity, the ageing population and Australia’s transition out of the mining boom.
Staying relevant as an employer
The characteristics of the millennial workforce can be difficult to define thanks to their always-evolving nature. However, the CSIRO has observed some constants which your business should consider as part of its hiring strategy. Building a strong culture of communication, for example, will not only allow your workers to feel more involved in their development and training, but also indicate the path of the organization and their place in it.
With research from Deloitte indicating that half of all millennials expect to leave their current jobs within the next two years, establishing effective and enticing development strategies for new hires is also an important step. Forbes notes that 75 per cent of millennials leave their jobs because of inadequate advancement opportunities, so discussing professional growth plans from the outset can improve your organisation’s personnel retention.
Keeping track of how your hiring and development strategy is performing can be easily handled with the right business management software. Speak to StrategyBlocks, and start making your organization more attractive for jobseekers today.