An Ongoing Workforce Issue: Making Millennials Stay
By Erin Harris, Editor-In-Chief, Cell & Gene
Follow Me On Twitter @ErinHarris_1
May 2016 Innovative Retail Technologies
You’ve read time and again that Millennials want to be aligned with companies that value and promote work/life balance as well as maintain an ethical social conscience and an unwavering commitment to philanthropy. Yet Millennials have a reputation for being flight risks when it comes to their jobs. So, beyond a flexible schedule and an altruistic work environment, what else is there? What are some other things retailers can do to make ‘em stay?
According to PwC, Millennials will form 50% of the global workforce by 2020. Tenured retail professionals may think they know what Millennials want based on the logic that people, regardless of their age, want to be compensated fairly and based on merit and to be treated equally in the workplace. And while that’s true, here’s the real truth — Millennials expect much more from their employers. Companies known for being innovative by nature (think Apple and Google) don’t have trouble attracting or retaining Millennials given the nature of the company’s forward-thinking philosophies. Yet there are plenty of feasible solutions for retailers that don’t have Apple’s inherent culture of innovation. Todd Corley, founder and chief strategist at The TAPO Institute and author of Fitch Path: A Cautionary Tale About A Moose, Millennials, Leadership, & Transparency, shares his insight on fostering a culture of inclusion that encourages Millennials.
“Allowing Millennials to be comfortable in approaching new challenges or difficult situations that require ‘creative solutions’ and ‘bold ideas’ is key to engaging and retaining the enthusiasm of this employee segment — especially in the world of retail where failure is a likely outcome of trying to forecast consumer taste and preference,” states Corley. “Remember, ‘more is more.’ ‘Less is more’ should never apply to managing performance or engagement. Don’t wait until the annual review to provide feedback. Share with more frequency and consistency. Use ‘in-the-moment’ opportunities to suggest corrective actions. Coach rather than criticize. Focus on individual actions and behaviors, not character or personality.”
Put Down The Smartphone
The Millennial generation’s world is digital, and this has an inevitable effect on the way they communicate. PwC also found that 41% of Millennials questioned said they would rather communicate electronically than face-to-face or over the telephone. The Millennial workforce has talent, innovative ideas, and charisma in spades, but they cannot text their way through their interactions with your customers. The associate/customer interaction is paramount to the customer experience, loyalty, and conversion. As such, more focus must be placed on ensuring associates are as informed and personable as possible. Retailers train their employees on everything from their POS systems to their scheduling software. Consider training programs that focus on improving the customer experience by way of an informed, personal interaction with retail employees. Further, compensate and promote Millennials in accordance with their performance. Reward results over tenure.
Mobile Millennials
Since Millennials are digital natives, they want scheduling, time tracking, and task management to be at their fingertips and with anytime, anywhere accessibility, all of which are made possible by mobility and the cloud. And regarding priority #1, the aforementioned customer experience, Millennials will benefit from associate-facing mobile devices to help them provide real-time answers to customers’ various and sundry questions on everything from wayfinding to shipping options.
A lot of what’s been written about Millennials is based on myths or stereotypes. Millennials continue to bring immense value to the retail industry. They think outside the box, and to retain them, retailers should, too.