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Millennial Workplace

4 Truths About the Ideal Millennial Workplace

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In today’s increasingly technology-heavy workplace, the millennial workforce continues to grow and thrive.

According to the Pew Research Center, the millennial labor force surpassed Generation X as the largest in the workforce in 2015. In fact, Pricewaterhouse Coopers estimates that millennials will make up 50% of the workforce by 2020.

Listen now to our HR Break Room podcast episode, A Hire Purpose: Build a Thriving Culture for Millennials

As they continue to grow and baby boomers increasingly retire, more millennials will assume management positions. In the recent two-part episode of Paycom’s HR Break Room podcast, guest Adam Smiley Poswolsky, author of The Quarter-Life Breakthrough, spoke about what businesses must do in order to make that transition as seamlessly as possible.

Here are four key takeaways from that conversation.

1. Purpose-driven workplaces draw millennials.

With 90% of millennials wanting to use their skills for good, they are demanding that companies provide purpose and meaning, so that their day-to-day work is not just an 8-to-5 job, but also something that defines them. They want to feel valued in their work and that their work is making a difference, so much so that half of them will take a pay cut to find work that matches their values!

In order to attract and retain top talent from this generation, creating a culture of purpose and meaning is essential to organizational success.

2. A transparent workplace is critical.

 In order to meet the needs of today’s workforce, employers should strive to be clear about what working there is like. The most forward-thinking organizations realize that millennials are going to research company culture, whether through Glassdoor or the grapevine, so recruitment efforts should clearly communicate the benefits and mission. Training and technology are especially popular among millennials, who are seeking purpose-driven opportunities that offer the opportunity to leave an impact.

With so many young people in the workforce, the workplace has become an extension of the classroom. Unlike baby boomers and earlier generations, millennials have to do more than to be good at just one thing and ride that skill for the next 40 years, thanks to the nature of technology and the state of the economy. In order to retain the most ambitious employees, you have to keep teaching them new desirable skills.

3. Millennials operate by a management style all their own.

A Global Workforce report states that 25% of millennials in the workforce will take on management positions. With the same report indicating that 3.6 million baby boomers will retire by the end of this year, it is essential for organizations nationwide to begin adjusting to the needs of the millennial management style.

Millennials are huge fans of collaboration and always looking for new ideas to get things done faster and more efficiently. They prefer co-leadership to more traditional hierarchical structures and are not as interested in doing things because “that’s how it’s always been done.” Even if not every idea is accepted, millennial managers like to give their talent room to try new things … and even room to fail.

This emerging style is going to prove especially important as the next generation of employees, Generation Z (born between 1994 and 2010), begin to enter the workforce. They value authenticity and want to work in an organization where their ideas are heard, regardless of job title. This interest in transparency and innovation makes them a more natural fit to be led by millennial managers.

Under New Management: The Rise of Millennial Managers and Generation Z

4. Millennials and Generation Z embrace learning through technology.

Collaboration and transparency are easier to achieve through technology, a key building block to any successful employee experience. Today’s top talent find and apply jobs through the internet, and then learn more about prospective employers the same way. Once they set themselves on a career path, they have become accustomed to learning new skills through YouTube videos or listening to podcasts.

 

Both Millennials and Generation Z have grown up having instant messaging tools, video streams and high-speed internet connections at their fingertips at all times. To create a seamless and attractive employee experience, employers should ensure such tools be incorporated into the workplace, at every stage from onboarding to retirement. Companies that truly understand how to use such tech tools as online learning platforms and surveys will be able to create an organization that is transparent and collaborative, and a culture that is efficient and goal-driven.


Caleb Masters

by Caleb Masters


Author Bio: Caleb is the host of The HR Break Room and a Webinar and Podcast Producer at Paycom. With more than 5 years of experience as a published online writer and content producer, Caleb has produced dozens of podcasts and videos for multiple industries both local and online. Caleb continues to assist organizations creatively communicate their ideas and messages through researched talks, blog posts and new media. Outside of work, Caleb enjoys running, discussing movies and trying new local restaurants.

talent shortage

How the Talent Shortage Threatens Your Business’s Bottom Line

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Human nature and the rapid pace of the workday sometimes conspire to force us into a myopic view of our organization. For instance, we may be so concentrated on attacking a problem within our department that we neglect to consider if the issue has infiltrated other departments as well.

If the issue is filling head count with qualified candidates, assume it has spread like a virus, to every room of every floor. Your business cannot afford to do otherwise.

While the problem is global, it is worse in the U.S., where 46% of all organizations currently experience difficulty filling open positions. Not only is that number up from 32% in 2015, it’s at its highest rate in 10 years. Experts predict it will rise even higher, meaning the war for talent just got harder.

The skills gap

The irony is, with an improving economy and an employment-to-population ratio around 82%, more people are in the American workforce now than in nearly a decade. So shouldn’t employers be inundated with résumés?

In general, they are … but not with the right kind of résumés. Almost 20% of applicants lack the experience companies seek. An equal number do not possess the necessary, specific hard skills the positions require, such as computer programming.

This skills gap has led to longer open positions. This year, the average is a full month: 31 days. Ten years ago, it took eight fewer days. How long can your business get by with letting critical functions go unfilled?

A domino effect

Arguably, the most obvious effect caused by open positions is lower morale among staff members, particularly those who have to pick up the proverbial slack. Having extra work atop their regular duties lowers their productivity, which in turn, lowers quality.

Before long, customers will take note. Perhaps they notice the product is not up to the company’s usual standard, or that your service may be lacking. Or, worse, they notice both. Either way, your competitiveness in the marketplace takes a hit, and we know the effect that has on the bottom line: not the desirable kind.

Ultimately, in a talent shortage left unaddressed, your business experiences all of the above, plus higher turnover. And higher turnover only compounds the problem that started this whole mess!

 Steps to take

The good news is, good news exists. The proper HR technology can streamline, speed up and automate your recruiting processes to attract more qualified candidates and filter out the unqualified ones. Automated preboarding helps keep new hires looped in, so they are not lost to the chasm of time between the job offer and Day 1.

The bad news is, if you don’t take such steps, and outdated, manual processes continue to rule the roost, your business will suffer defeat in the war for talent.

For more information on the current talent shortage, as well as strategic steps organizations can take on a path toward victory, download our free infographic, How the Talent Shortage Harms Your Entire Business.

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Posted in Blog, Featured, Talent Acquisition

Rod Lott

by Rod Lott


Author Bio: As Paycom’s Creative Services Manager, Rod Lott brings more than two decades of experience in marketing, advertising, branding and journalism. A published author and a graduate of the University of Oklahoma, he has worked with such brands as Blue Cross Blue Shield, Sonic Drive-In and OU.

The 1 Thing Efficient, Happy and Motivated Employees Have in Common

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Efficiency, happiness and motivation: These traits characterize the ideal employee, but how can today’s employers inspire their workforce to have more of each? Through the use of carefully chosen technology. Here’s how technology factors in to developing your employees into the best they can be.

Click here to see Jacob Morgan’s SHRM-certified on-demand webinar “How to Win the War for Talent and Crush the Competition” on how the world’s top companies are redesigning work around their people by focusing on three environments: culture, technology and the physical workspace.

Efficient employees

Of course, your employees are not machines. Efficiency for your business means employees are doing the right things at the right time; as management consultant Peter Drucker put it, “Efficiency is doing better what is already being done.” The work you hired them to do is performed with excellence.

Technology goes hand-in-hand with efficiency, and that can make your employees happier! In fact, as reported by Access Perks, 92% of employees say having the tech to efficiently do their jobs improves their overall satisfaction in their work. Employees don’t want just any technology; make sure you’re offering the latest tech that can help them perform better in their roles.

Happy employees

Whether your employees are happy can affect many things within your workplace. More than a feeling your people exhibit from 8 to 5, happiness speaks to their satisfaction in their role within your company. When your employees love what they do, that’s how you know they’re happy in their jobs.

The employee experience is the sum of all things good or bad in an employee’s time at your company. A positive employee experience leads to happier employees who are more willing to accept growth and change, and are emotionally prepared to handle the occasional setback.

Jacob Morgan, author of The Employee Experience, describes technology as a key factor in building a positive employee experience. His research shows that 81% of workers say technology is the most important factor in their happiness at work, and 86% say that when their company’s technology is ahead of the curve, they love their job. When employees love their jobs, they become more motivated for the success of the company that has invested in them.

Motivated employees

According to Forbes magazine, motivation leads to productivity, allowing for more work to get done and boosting your bottom line. Chances are, no matter the quarter, your HR team has looked for innovative ways to motivate and engage employees. Incentives, prizes and pizza parties are obvious choices in the search for employee motivation, but is a “prize” the best method?

One powerful motivator that isn’t just another prize is technology; according to PricewaterhouseCoopers, at 48%, nearly half of the American workforce says that new technology is an effective motivator. Are you providing the state-of-the-art, user-friendly tech that can motivate your workforce?

Technology that is up-to-date and simple to use can help you provide the environment your employees need to thrive.  As tech-dependent millennials make up a larger share of the workforce, and Generation Z digital natives begin their careers, technology increasingly becomes a critical part of the employee experience.  Help your employees meet their maximum potential by providing the right technology to keep them efficient, happy and motivated.

Looking for a deeper dive into the employee experience? Check out the HR Break Room podcast episode, “Happy Employees = Happy Customers: The Equation for a Winning Workforce” with author Jacob Morgan.

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Posted in Blog, Employee Experience, Featured

braeden.fair

by Braeden Fair


Author Bio: Braeden Fair produces webinars and podcasts for Paycom, in addition to writing content for the company’s blog and its employee culture magazine, Paycom Pulse. A graduate of Oklahoma Christian University, he managed social media for the college’s student life division and worked in the broadcasting departments of the Oklahoma City Thunder and the Dallas-based sports-talk radio station The Ticket.

Employer Brand

Why Your Employer Brand Matters

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Hello. My name is Amy, and at one time, my Coca-Cola rugby shirt was my most prized possession. Chances are you – or someone you know – had at least one and felt the same way. Those preppy, color-blocked beauties with the classic Coca-Cola scroll were pure Americana. They were so rad.

They were also uncomfortable. The material was thick and hot, the boxy shape was cumbersome and the collars were stiff. So what would inspire millions of sensible people to pay good money and outfit themselves in one? The answer: brand power.

Brands amplify the personal traits and characteristics of which we’re most proud. Brands show others who we are and want to be. They’re a fiercely personal association that sways our decision-making, regardless of whether we like to admit it, and they’re just as powerful today as they were in 1985.

If you don’t believe me, just embroil yourself in a debate about Macs vs. PCs, or Target vs. Walmart. Two things will happen immediately. First, regret will overwhelm you. Secondly, as voices rise and tempers flare, you’ll see that brands continue to serve as an extension of who we believe we are.

Great expectations

While the influence brands have over us remains strong, what we expect from them has changed. Today, companies can’t win customers by building a brand the old-fashioned way, with logo-emblazoned gear, slick photo shoots and ads in glossy magazines. Cultivating a trustworthy brand requires transparency. We want to know which brands mirror our values and operate in a way we believe in, too.

And we can, thanks to the internet. Now, not even the slickest ads in the world can spare brands from the destruction that negative reviews, an exposé on unethical practices or a shocking YouTube video can bring. The power of shaping a brand now lies with the company who owns it and the customers they serve.

Why it matters for HR and recruiting

So what does this have to do with your company’s reputation as an employer, aka your employer brand? Everything.

Just as consumers choose products based on brand identity, candidates choose jobs based on employer brand. Consumers want transparency. Candidates do, too. Review websites like TripAdvisor and Yelp offer consumers a forum to share honest experiences with thousands of people. Major job sites like Glassdoor, LinkedIn and Indeed provide employees a similar outlet.

And candidates pay attention. Much like consumers contemplating a big purchase, candidates planning to make a big move do research. Before applying, 62% of job seekers will use social media channels to evaluate a company and 76% will view an employee’s LinkedIn page, while 60% consider word-of-mouth to be their best source of information.

To nab today’s top talent, you must enter the conversation and cultivate your employer brand.

Isn’t that marketing’s job?

Although the similarities between the consumer brand and the employer brand would suggest it, that’s not the case. And shaping or managing your employer brand doesn’t just belong to HR, either. Because your employer brand has to portray your company’s employee experience accurately, everyone who has a hand in shaping that has a hand in cultivating the employer brand.

Download our new, FREE white paper: Discover Who Owns the Employer Brand? (Hint: It’s Not Just HR)

Once you understand the role everyone in your organization plays in cultivating the employer brand, you can begin making steps toward recruiting, hiring, onboarding and retaining the talent your business needs. Then, take some time to design an awesome (and hopefully comfortable) employer-branded shirt. Your workforce will be just dying to wear it.

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Posted in Blog, Featured, HR Management, Talent Acquisition

Amy Double

by Amy Double


Author Bio: Amy, a tenured professional in sales and marketing with over 10 years of experience, is dedicated to creating content focused on helping organizations achieve their business goals. As an experienced writer, Amy is committed to researching and blogging about topics that affect businesses across multiple industries, including manufacturing, hospitality and more. Outside of work, Amy enjoys reading, entertaining and spending time with family.

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