Posted June 18, 2018
As older workers exit the workforce, traditional employer-employee relationships are changing. Employees today want more than a paycheck. They look for jobs that support their personal and professional goals. Are you ready for these changes?
Consider five ways you can compete for top talent and engage employees.
1. Connect jobs to employee goals– Regardless of age, employees want to make a difference and to help businesses succeed. They aren’t interested in fitting into the establishment. The seek job opportunities that will support their life goals.
2. Encourage open communication – Many employees stay at a job for less than five years and are not looking for long-term employment promises. However, they do appreciate open communication about their job performance and suggestions on how to enhance their knowledge and skills. They are interested in growth opportunities and enjoy working on project teams.
3. Offer flexibility, generous rewards– Work flexibility is important to most employees. They seek options to work in the office, at a coffee shop, or from home so that they can juggle work deadlines and personal commitments.
Employees also appreciate public recognition of their work and contributions to your business. They look for job responsibilities that will help them increase their salary and value rewards and benefits that help them financially.
About 70 percent of employees today have extensive student loan debts. Other workers are helping their kids and grandchildren with college expenses. That’s why they appreciate a student loan repayment benefit and a college 595 savings plan option, like the BenefitEd program. Research shows that 90 percent of young workers would commit to an employer for at least five years if they received help repaying student loans.
4. Provide resources, guidance– Employees want continuous feedback on their performance and regular coaching. They want to be held accountable for project deadlines but don’t want to spend hours trying to figure out an assignment. Managers should define project responsibilities, be available to discuss employee questions, and provide the resources employees need for their work responsibilities.
5. Employ outstanding managers– In most businesses, employees feel tremendous pressure to work harder, smarter and faster. Excellent managers are critical to business success. They are the linchpin to keeping project teams focused, interpreting customer needs and expectations, and encouraging employee engagement.
Learn more about how to compete for top talent by listening to a podcast with Bruce Tulgan, a nationally recognized author and expert on generational workforce changes.