PricewaterhouseCooper’s 2011 Global CEO Survey says that money is not going to buy you love with the brightest of GenY/Millennials. According to the survey, the Millennials biggest retention drivers are training and development and the ability to work in communities of mutual interest and passion.
As a generation who grew up using the internet and social media, they want to connect with other bright people to work on challenges and business problems that are meaningful and important. They also understand they are being hired for a job, not for a lifetime. They are keen on building and refining their skills so that they are able to take advantage of opportunities inside the company, and when and if the time comes, outside the company. They have a strong desire for coaching and mentoring.
- Creating and communicating a compelling vision that will attract the best Millennial talent by connecting with what they find meaningful.
- Creating collaboration by breaking down silos and utilizing social media and collaboration technologies.
- Leveraging resources from across the organization to address significant business issues.
- Managing talent by providing them with cultures that focus on developing talent and careers, building capabilities and capacity through formal and informal development opportunities.
What’s your organization doing to attract and retain the best Millennial talent?