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Inspire Changing the World of Work Together April 2018 Issue 2

Generational Differences

Generational Differences The number of millennials, those born between 1980 and 2000, entering employment is rapidly increasing and will form 50% of the global workforce by 2020 12 . Understanding the needs of this generation is crucial for businesses to ensure they can attract the best talent. Millennials are more likely to focus on their personal needs than those of the organisation – they look for rapid progression, variety in their career and constant feedback. 52% stated career progression was the main attraction in an employer, higher than competitive salaries at 44% 12 . Personal learning and development is another key benefit millennials look for in an employer together with the opportunity to have flexible working hours. Employer brands are becoming increasingly important with millennials attracted to employers that they admire as consumers. Social purpose is also valued although this has decreased in the current market where just over half are attracted to employers because of their CSR position versus 86% in 2008 12 . What is clear is that Millennials look for a strong employer brand and they need to be continually stimulated or they will go elsewhere. Values Across Generations Great Place to Work ® reason that people from different generations actually share many commonalities in terms of what they look for in a career and their working environment. Even trust amongst different generations is not dissimilar and earlier generation X are more distrustful than Millennials. Millennials may also not perceive tensions between generations and it is important to understand and address these for employees to thrive 13 . Taking everything into account, I would say this is a great place to work Baby Boomers – 56% Generation X – 52% Millennials – 57% I want to work here for a long time I’m proud to tell others I work here Baby Boomers – 65% Generation X – 59% Millennials – 62% I feel I make a difference here When I look at what we accomplish, I feel a sense of pride Baby Boomers – 68% Generation X – 60% Millennials – 62% My work has special meaning: this is not “just a job” 13 Baby Boomers – 60% Generation X – 54% Millennials – 54% Baby Boomers – 65% Generation X – 59% Millennials – 62% Baby Boomers – 65% Generation X – 59% Millennials – 62% 12 Millennials at work, PwC, 2011 13 The Multigenerational Workforce, Great Place to Work®, 2016

Beyond Employee Engagement The CIPD argue that the approach to employee engagement needs to be rethought to keep up pace with modern business practices 14 . Employee engagement, for some, has become a process rather than a philosophy and therefore doesn’t achieve the expected results. It is less about measuring employer engagement in a yearly survey and more about good management practices and workplace engagement. Workplace engagement goes beyond organisational commitment and citizenship behaviour. It gives ‘people more autonomy, responsibility and more challenge in their individual jobs and they tend to respond positively’ 14 . “Employee engagement should be seen ‘as a workplace approach designed to ensure that employees are committed to their organisation’s goals and values, are motivated to contribute to organisational success, and are able at the same time to enhance their own sense of wellbeing” 15 Aligning Employer and Employee A strong employer brand with a values driven culture is core to attracting the right candidates to drive your business forward. At Talent Gateway, understanding our client’s culture is the important first step in finding the right individual. We work closely with our clients to understand where the business is heading together with challenges and perceptions of the organisation. Candidates are our customers too and we are committed to providing them with fulfilling roles that enable them to thrive. We conduct in depth interviews to assess cultural fit and we believe through the use of assessments including Hogan and The GC Index, we can understand where a candidate would flourish and excel. 81% 81% 31% 93% 34% Are unlikely to accept a job offer if they were treated poorly during the recruitment process would not remain a customer of a company if they had a bad experience as a candidate do not believe recruiters give them the tools and tips they need to land a job admit to researching online sites that give feedback on working for the company state that case studies and videos from a range of employees on company culture and what it’s like to work there matter most on an employer website 16 . 14 Is it ‘engagement’ or simply good management practice?, CIPD, Claire Warren, 14 August 2017 15 Engaging for Success: enhancing performance through employee engagement, David MacLeod et al, July 2009 16 Recruiters Beware: Treat Candidates Well or Lose Them as Future Employees and Customers, According to Korn Ferry Futurestep Survey, HR News, 13 December 2017

Inspire Changing the World of Work Together April 2018 Issue 2
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