ES Outlook Weekly Brief
Be first to read the latest tech news, Industry Leader's Insights, and CIO interviews of medium and large enterprises exclusively from ES Outlook
By Humair Ghauri, Chief Product Officer, ADP
Humair Ghauri, Chief Product Officer, ADP
Many large companies receive thousands of resumes per day. Thankfully, new technology makes it easier than ever for them to quickly source candidates. But to truly stand out, it’s important for employers to make a personal connection, especially with Millennials, who now make up the largest generation in the United States.
According to PwC, by the year 2020, half of the global workforce will be made up of Millennials, which means employers must connect with this generation if they want to attract and retain them. With this in mind, employers need to be present where Millennials get a majority of their information - social media. Employers need to ensure everything is optimized for mobile users and amplified through social channels for maximum impact.
“Millennials have reimagined the 40-hour work week – they want to be able to work when and where they want, and spend less time commuting”
What else should they consider as they evaluate their staffing strategy in 2017?
Here are three tips!
1.Consider Work-life Balance and other Benefits
Employees across the generational landscape strongly value a good work-life balance. However, Millennials place a higher priority on being able to build downtime into their work schedules. According to Deloitte, when salary or other financial benefits are removed from the equation, Millennials rank good work-life balance opportunities to progress, and remote working and flexible hours as the most important factors when evaluating job opportunities. Millennials have reimagined the 40-hour work week – they want to be able to work when and where they want, and spend less time commuting. Companies who realize this and offer flexible work arrangements will be more attractive employers. Further, since each generation values different benefits, it’s important that employers spend time marketing their benefits offerings to appeal to a multi-generational workforce. For example, recent ADP research found that younger workers favor education-related perks and paid maternity/paternity leave, while Baby Boomers are more interested in employee discount and wellness programs. With that in mind, employers can personalize job descriptions to be more attractive to specific age groups.
2. Make Better Talent Decisions with Big Data and Analytics.
According to Bersin by Deloitte, the number of employers using people analytics increased exponentially last year, with 39 percent of employers correlating people data to business performance (a 63 percent increase over 2015.) Big Data and analytics can help employers source talent internally and retain their top performers as well. By using data and analytics, employers can identify patterns to gain insight into which employees may be at risk of leaving and why. They can also use analytics to better identify internal candidates for job openings by evaluating factors like skill set, tenure, and desire to advance. When recruiting, many organizations still need help identifying and developing internal candidates for jobs so people analytics can really open some doors.
3.Engaging Employees with Improved On-boarding.
Employers are starting to realize the importance of on-boarding in employee engagement. To keep employees engaged, more companies are using gamification in the application and on-boarding processes. This could include a fun orientation of the company, a quiz to screen candidates, or a set of tasks to complete in the first week to earn points and open up more fun opportunities to engage in. When on-boarding new employees, it’s not only about laying out 30-, 60- or 90-day goals; it’s also about helping them meet those goals by providing more interaction with colleagues who can share their experiences. Also, keep in mind that new hires want a system that’s integrated and easy to navigate. They don’t want their first days on the job spent navigating different HR, payroll and learning systems. Make it as easy as possible so new hires are less frustrated and start off their employee experience with a positive attitude!
Though the labor market is becoming increasingly competitive, new trends and technologies offer a way forward for employers. By taking a more personalized approach to talent management, employers will be better equipped to take on the war for talent and set themselves apart from the competition.
ADP offers cloud-based Human Capital Management solutions including HR, payroll, talent management, tax and employee benefits administration.
By Kim Tracy, CIO, Northeastern Illinois University
By William Miller, SVP & CIO, Broadcom, Inc.
By Dr. Cheryl Flink, Chief Strategy Officer, Market Force
By Paul Kent, VP-Big Data, SAS
By Tom Conophy, CIO, Staples Inc.
By Mark Lilien, SVP & CIO, Things Remembered
However, if you would like to share the information in this article, you may use the link below: