Is it true that this generation has been defined by a unique set of circumstances that have shaped their view of work, and how their lives fit within it? Do the Millennials have specific needs, some of which are shared by previous generations, and some which are more applicable to them?
The answer is yes. This means, your ability to understand them, attract them, and more importantly, your ability to retain them is something you might want to think about since, they’re here to stay!
So much has already been written about the Millennials and the predictions are, by the year 2025, the Millennials will comprise 75% of our workforce. Leading edge companies are now looking at performance technology as a way to channel the spirit of this generation to tap into all the benefits that these younger employees bring to the workforce.
We already know that the assets of the Millennial generation include:
| Digital Natives | Highly Educated | Collaborative |
| Socially Responsible | Experts at Multi-tasking | Self-Confident |
| Diverse | Goal-Oriented | Adaptable |
What sets this group apart is their need for feedback on how they are doing and to ensure that they are on the right career track. There could not be a better time to utilize technology to manage performance. Web-based interactive, dynamic, self-motivated performance management tools allow leaders and their teams to readily assess accurate progress towards goals and behaviors real-time.
A dynamic performance management process will inspire Millennials by providing:
| The company’s vision and sense of purpose | VISION |
| An understanding of how they fit into the big picture | COLLABORATION |
| A sense that their work is meaningful and matters | PURPOSE |
| Stretch goals… the more the better | CHALLENGE |
| An understanding of the measures that define success | CLARITY |
| A definition of ‘What’ they do and ‘How’ they do it | METHOD |
| A mechanism to give and receive feedback on a regular basis | FORUM |
All of these traits, point an enlightened leader in search of a continuous feedback system to Cornerstone on Demand’s CSB Performance Management Product which allows both employees and their managers to continuously monitor progress to those goals and competencies that achieve outstanding performance.
Building a cohesive culture that truly drives your organization’s ability to achieve business results through the recognition of generational differences could be the key to thriving in the new century.
The Pendolino Group is recognized as an expert in the field of Integrated Performance Management Systems—Making the Extraordinary Happen! Visit us at PendolinoGroup.com to start a conversation about your organization’s needs in the areas of Performance Management, Strategic Visioning/Planning, Talent Acquisition, Leadership Development, and Compensation & Total Rewards.
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