Millennials, those born between 1981 and 1996, are known for being tech-savvy and innovative but also as ‘job-hoppers’ – changing employers more often than any generation before them. On average, millennials in the US switch employers four times in the decade after graduating from college, creating a high turnover that costs the economy US$30.5bn annually.
Low engagement levels are one of the reasons attributed to the frequent departures. Some 55% of millennials do not feel engaged at work, and with six in 10 open to different job opportunities. It’s more important than ever for employers to focus on staff wellbeing to increase retention rates.。
Securing a top 10 spot on Fortune’s 100 Best Workplaces for Millennials list, Kimpton Hotels and Restaurants’ current staff network is made up of approximately 53% millennials. By 2025 three out of every four workers globally will be millennials.
“First and foremost: [millennials] want to work for a company that not only reflects their values but celebrates and supports them. For us, our value pillars center around diversity and inclusion, wellness, social responsibility and the environment,” says Ginny Too, SVP People & Culture, Kimpton Hotels and Restaurants.
“They also value being treated as an individual. Employees shouldn’t feel they have to mute a part of themselves in order to “fit in” somewhere. If a company can’t accept the employee for who they are, then it’s not the right company to work for.”
“We’re also all about self-leadership and empowerment which directly impacts career growth and personal development, something that really resonates with millennial employees. That means there’s not always going to be a linear path for someone. We’ll provide all the tools and resources to get to where they want to be, but the rest is up to the individual.”
Appealing to the generation’s tech-savvy side can also score a potential employer points. “Transparency, community and communication are important to our employees. Many of us are active on Yammer, a social media network that’s taken on a life of its own,” continues Too. Here, employees post photos of their day, ask for help, share ideas, and are able to engage with one another and our senior leadership team on a daily basis.”
In a bid to highlight employees’ unique strengths and boost their workplace satisfaction, hoteliers are turning to creative initiatives to attract tomorrow’s future leaders. One way they are doing this is by designing unique job titles for employees. From Chief Purpose Officer to Director of Music, retitling or creating specialised positions has the potential to increase an employee’s sense of purpose in the workplace and change their perception of their role in the company.
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