Making It Work for Your Workers - Making It Work for Your Workers
Making It Work for Your Workers
According to EY: Ernst & Young Limited's Global Generations report, 75% of the global workforce will be made up of Millennials by 2025, which makes it important to know how to attract, retain and empower this distinct generation of workers.1 Here are four important things to consider when engaging today’s workforce:
1 Develop your employees
According to best-selling author Peter Economy, your company’s success depends on your employees’ performance.2 So it’s essential to develop your employees’ ability to perform at a high level. However, this requires time and effort you may not have much of right now. Quick wins for starting this process are to set quarterly goals, offer opportunities for individual growth and hold frequent review meetings to gauge progress.
2 Try not to micromanage
According to NPR Correspondent Yuki Noguchi, micromanagement is routinely the top complaint people have about their bosses.3 Consider trusting your employees to complete their work on their own, unless they’ve given you a reason to not trust them. By allowing your employees the freedom and flexibility to complete their work independently, you are allowing them to be fully responsible for their work, which can lead to greater job satisfaction.3
Top 5 Reasons Millennials Quit
Today’s workers aren’t afraid to move on. Here are the most common reasons why they quit:1
- Minimal wage growth
- Lack of opportunity to advance
- Excessive overtime hours
- A work environment that doesn’t encourage teamwork
- A boss that doesn’t allow flexibility
3 Ask for feedback
If you’re considering making changes at work that will affect your employees, allow them the chance to share their thoughts before you implement them. Communication can reduce employee resistance.4 Ultimately, you are still the decision-maker, but employee input can facilitate adoption and increase acceptance of changes that affect employees.
4 Consider teleworking
The option to telework is one of the perks many job seekers may be looking for when searching for employment. Teleworking may offer cost benefits for employers. Global Workplace Analytics reports that an average real estate savings with full-time telework is $10,000 per employee, per year, but your mileage may vary. They also found that allowing employees to telework can reduce attrition and improve productivity.5 It may be worth evaluating teleworking policies to see if they fit within your business model.
There’s a lot changing in the workforce. With a new emphasis on work/life balance and greater flexibility to support it, workers are likely to be happier and more motivated in their work. And that can mean good things for you and your business.