5 Elements to Retain Millennial and Gen Z Employees

Shefali Vasave | July 14, 2022 | 666 views | Read Time : 04 min

Millennial and Gen Z Employees
Talent retention is one of the biggest issues faced by firms that are expanding quickly. It's easy to neglect retention, so it's crucial to keep your existing workforce engaged while onboarding new ones. This is especially true of Gen Z and Millennial workers. These generations are more inclined to change jobs frequently, as the Great Resignation has brought to light. As a business grows and changes, it is also important to have younger employees who are dedicated and skilled.

When it comes to retaining millennial and Gen Z employees, here are five elements to consider emphasizing in your organization.

1 Flexible Work

Remote work, flexibility, hybrid culture aren’t just buzzwords for millennials and Gen Zers, it’s what they expect and what makes them consider staying or quitting. The business case for providing more flexibility is that it helps organizations reduce costs incurred from absenteeism, workplace accidents, and employee attrition.

2 Access to Mentorship

A CNBC study revealed that 90% of employees with assigned mentors report that they are happy at their jobs. There’s no doubt that greater employee happiness causes higher retention. Both Gen Z and millennials seek mentorship at work as it allows them to pursue their self-development goals. Since virtual mentorships are not limited by geography, more employees are able to connect with a wider range of mentors.

3 Diversity and Inclusion

Young employees value a diverse workforce, and diversity, inclusion, and equity are vital expectations to meet. It is one of the factors that help candidates choose their employers.

4 To Wrap It Up

While hiring newcomers, it's crucial for growing organizations to retain their employees. Additionally, since they have a unique set of values and are willing to change employment, your youngest employees deserve special consideration. When engaging these employees and ensuring the long-term success of your firm, a flexible working style, mentoring programs, and an inclusive atmosphere are essential.

Spotlight

Collage HR

Say goodbye to paperwork forever with all-in-one HR and benefits built for Canadian small and medium businesses. Collage eliminates time and money spent on tedious HR paperwork by digitally automating onboarding, employee records management, tax forms, time off management, and group benefits enrolment.

OTHER ARTICLES
TALENT ACQUISITION, RECRUITMENT & RETENTION

Increasing ROI through Digital Recruitment Marketing

Article | September 22, 2022

Marketing and recruitment are two of the most critical functions in a business. However, just as marketing is key to helping a business sustain in a cutthroat market and position itself as a go-to provider, recruitment marketing is key to winning the war for talent and positioning a company as a coveted workplace. Digital recruitment marketing, there are more avenues to recruit top talent than ever before. Not only does it offer a wide reach, but also the ability to keep track of campaigns and measure the return on investment from these efforts. In this way, you can build a talent community that ensures you have a steady supply of qualified candidates. This is why implementing solid recruitment marketing campaigns is so crucial. However, just like marketing, recruitment marketing requires investment, and marketing leaders must be able to justify these investments to their higher-ups. At its core, recruitment marketing shares much of its process with marketing. It helps to take lessons from how marketing leaders convince higher-ups to invest in their strategies to build a talent pipeline. Building a Business Case for Digital Recruitment Marketing Talent acquisition through recruitment marketing is undeniably effective. But it goes without saying that marketing is an expensive endeavour and when done without due diligence, it can cost your company a lot more than necessary and without yielding the results you’re looking for. In addition, with the same principles used to manage marketing campaigns, you have a better chance of justifying investment in digital advertising to recruit talent. By tweaking a few crucial pieces of marketing tools and techniques, you can craft a marketing strategy aligned to your recruitment objectives. Not all companies have the digital presence that large organizations can boast of. This is why reaching and engaging candidates, positioning an employer brand and designing an online candidate experience are so important. Digital advertising can address all of these objectives by helping create reach and awareness. But first, let’s talk about the key recruitment marketing metrics to track when implementing digital recruitment marketing campaigns. Metrics to Map for Tracking Recruitment Marketing ROI Your ability to build a case with recruitment marketing ROI is limited if you are not tracking the ROI from your digital advertising campaigns. Social Media You cannot track word of mouth, but you can track online conversations. No, it doesn’t mean you can hear what people are saying about the company, but social media recruitment marketing can uncover numerous insights. You can see how much of your audience your posts or ads are reaching, whether they are engaging with your posts by commenting, sharing, or liking it, and if it’s converting visitors into applicants. Pay-Per-Click Campaigns PPC campaigns are a common digital recruitment marketing strategy and are especially effective for reaching an intent-based audience looking for specific roles. PPC ensures your ad is at the top of the pile and gets immediate attention. Time to Hire From applying for a position to being hired, time-to-hire substantially demonstrates the success of your campaign. It requires you to track all the dates and stages of an application’s lifecycle. But what does it have to do with recruitment marketing? According to a study by Inc., the best candidates get recruited within 10 days on average, and your recruitment marketing campaign should contribute towards reducing your average time-to-hire for it to be considered effective. To Conclude These are just a few of the critical metrics you need to track in order to build a case for investing in recruitment marketing. A talent shortage and a competitive hiring landscape make it difficult to find the right talent on time. With digital advertising, you can create result-oriented campaigns that accelerate screening and evaluating candidates by reaching the right candidate personas. A recruitment marketing platform can help you actualize your campaign and adopt seasoned marketing strategies as part of your talent acquisition efforts.

Read More
RECRUITMENT & RETENTION

Listen and act: how to get employee experience management right

Article | August 19, 2022

As the science behind employee engagement evolves, it’s become clear just how much businesses can gain from a happy and involved workforce. From improved performance, to reduced attrition, increased revenue and even a better customer experience, employee engagement is at the heart of business growth. Given these benefits, it’s no surprise that the role of HR departments is moving beyond just managing people and towards managing experiences.

Read More
TALENT MANAGEMENT, HR STRATEGY, RECRUITMENT & RETENTION

5 Things HR Can Do To Improve Employee Output

Article | August 2, 2022

Employees are companies most valuable asset – Without the talent, knowledge and expertise those employed bring to an organisation, it’s safe to say that the business world would be a very different landscape. Human Resources is often held responsible for owning the employee value strategy, where we’re now embracing tremendous improvements in how the value that employees bring, can be achieved. Here we’ll explore how data analysis, learning & development, employee engagement, 360 feedback and flexibility all offer a significant opportunity to improve employee output within every organisation in 2020.

Read More

6 Reasons To Invest In Employee Onboarding In Your Organization

Article | February 10, 2020

You never get a second chance to make a first impression. This holds particularly true when it comes to employee onboarding. It's a new hire's introduction to the organization and the experience has a significant impact on employee retention. Unfortunately, that's why it's rare to see many employees with years of tenure. Research by Future Workplace found that 91% of Millennials expect to stay in a job for less than 3 years. Companies lose 25% of all new employees within the first year, according to SHRM, but almost 70% of employees are more likely to stay with a company for 3 years if they experienced great onboarding.

Read More

Spotlight

Collage HR

Say goodbye to paperwork forever with all-in-one HR and benefits built for Canadian small and medium businesses. Collage eliminates time and money spent on tedious HR paperwork by digitally automating onboarding, employee records management, tax forms, time off management, and group benefits enrolment.

Related News

HR ANALYTICS,RECRUITMENT & RETENTION

New Paychex Products Help Businesses Improve Recruiting, Hiring, Onboarding, and Retaining their Employees

Paychex | November 07, 2022

Paychex, Inc., a leading provider of integrated human capital management software solutions for human resources, payroll, benefits, and insurance services, has announced new enhancements designed to help improve the employee experience from pre-employment through retention. The latest products and solutions help provide a seamless experience for both employers and employees using Paychex Flex®, the company's SaaS-based HR application, as well as the customized service and HR advisory support available from Paychex. "Now more than ever, a positive first impression with a prospective employer is essential. HR technology plays a critical role in how employers meet candidates, extend offers, digitally onboard, and retain employees through the first 90-days, when the chance for turnover is at its highest, The products included in our most recent release were developed to strengthen the employer-employee relationship and support businesses as they prioritize their workforces to create better experiences for increased employee retention and satisfaction." -Tom Hammond, vice president of corporate strategy and product management The 2022 Paychex Pulse of HR Report, an annual study commissioned by Paychex that provides an in-depth look at how HR leaders are adapting to support employees in a new era of work, found that 50% of respondents say that their organizations are not effective at hiring, onboarding, and retention. The following solutions and product enhancements make up the current Paychex product release and the company's efforts to enhance the employee lifecycle and experience: Paychex Flex Hiring: Makes hiring easier by automating tasks and actions for clients to quickly recruit and hire new talent. This Paychex Flex feature assists clients with a variety of recruitment tactics, from posting a job to digitally sending offer letters to top candidates. Paychex research has shown that three out of four clients surveyed said they have shortened the time required for recruiting, screening, tracking, and onboarding of new employees through using Paychex Flex. An average time savings of 26% was reported by those clients that reported a shortened timeframe. For example, a client's two-month recruiting and hiring cycle could be reduced to six weeks. Paychex Flex Onboarding: Simplifies the onboarding experience by integrating essential steps directly within Paychex Flex. Advancements allow new hires to complete critical documentation, including direct deposit authorization, W4, state withholding forms, and Form I-9s from the device of choice for a paperless onboarding experience. Paychex Flex Time: Helps create a seamless and unified experience for Paychex Flex Time admin and employee users for controlling scheduling needs, managing time off requests, approving employee timecards, and reviewing data to ensure accuracy for pay periods. Flock Benefits Administration by Paychex: Provides clients with industry-leading benefits administration technology with advanced features and a best-in-class customer experience. This product helps makes insurance accessible to employees through easy-to-use enrollment workflows and in-app video tutorials that drive employee self-service and efficiency for employers managing benefits. Paychex Voice Assist: Provides a new way for payroll admin users to complete payroll and HR-related functions and tasks. Users can now complete payroll from anywhere simply by saying "Hey Google, Talk to Paychex Flex" on any Google Assistant™--enabled device. Paychex Voice Assist is a natural extension of the company's expansive self-service capabilities. Continuous market research allows us to leverage quantitative data to quickly address the business needs and challenges of our clients, Our most recent research revealed that 97% of Paychex clients said an online portal for employee self-service or HR-related tasks from any device or location was very or extremely important to strengthening employee relationships. The fall product release brings intuitive solutions to market that support businesses and enhance the employee experience,added Maureen Lally, vice president of marketing for Paychex. About Paychex Paychex, Inc. (Nasdaq: PAYX) is a leading provider of integrated human capital management solutions for human resources, payroll, benefits, and insurance services. By combining innovative software-as-a-service technology and mobility platform with dedicated, personal service, Paychex empowers business owners to focus on the growth and management of their business. Backed by 50 years of industry expertise, Paychex serves more than 730,000 payroll clients as of May 31, 2022 in the U.S. and Europe, and pays one out of every 12 American private sector employees.

Read More

EMPLOYEE EXPERIENCE,EMPLOYEE ENGAGEMENT

UKG partners with Xoxoday to elevate the employee experience for organizations

UKG | December 01, 2022

Xoxoday, a global SaaS Fintech company known for its rewards, engagement, and loyalty infrastructure for businesses, announced a technology partnership with UKG, a leading provider of HR, payroll, & workforce management solutions. This will help organizations and HR leaders elevate the workplace experience through a holistic employee engagement approach that connects, aligns, empowers, & motivates teams. This partnership helps solve significant new-age crises of disengagement and attrition by focusing on employee experience. While UKG helps streamline human capital management and HR service delivery, Xoxoday Empuls helps drive multi-dimensional employee engagement. The partnership also aims to address challenges brought about by the 'Great Resignation' by attracting and retaining top talent, maximizing ROI from every business' biggest resource - their people. UKG solutions are developed with the UKG Life-work Technology™ approach to solution design. Life-work Technology has two components: people systems that inspire the workforce by enabling autonomy & flexibility and connecting people to their colleagues and roles with purpose; and work systems to help businesses thrive by offering higher productivity, optimizing teamwork, and providing more opportunities for people to support each other and their communities. "At UKG, we strive to create lifelong partnerships with our customers, helping them create modern people experiences to drive better business outcomes and anticipate employee needs beyond just work, By cultivating a highly engaged ecosystem of technology partners, including Xoxoday, we're able to help create a more seamless and empowering technology experience." -Mike May, VP, Technology Partnerships, UKG Manoj Agarwal, Co-founder, Xoxoday, says, The partnership comes at a time when technology is getting democratized faster than before, and two strong products, that are solving adjacent problems, come together to provide a better value proposition to their customers while using it as a growth flywheel for both businesses. The partnership with UKG strengthens our vision to create a connected & motivated workforce, breaking silos to achieve better outcomes. About Xoxoday Xoxoday is a rapidly growing fintech SaaS firm that propels business growth while focusing on human motivation. Backed by Giift and Apis Partners Growth Fund II, Xoxoday offers a suite of three products - Plum, Empuls, and Compass. Xoxoday works with 5,000+ clients across 100+ countries serving 80 million+ end-users. Xoxoday is a 380+ strong team with nine global offices across USA, Ireland, UAE, India, Singapore, Indonesia, Sri Lanka, and Nigeria.

Read More

HR ANALYTICS,HR STRATEGY

DISA Global Solutions Completes Acquisition of Global HR Research

DISA Global Solutions and Global HR Research | December 02, 2022

DISA Global Solutions has completed a transformative deal to acquire Global HR Research (GHRR), another industry-leading provider of employee screening services. This is DISA's 30th acquisition in the last five years, complementing our strong organic growth over the same period and accelerating our growth strategy. In addition to expanding our scope of services and balancing our product mix, this transaction also diversifies our end markets, particularly in healthcare. Additionally, GHRR has an extensive network of integrated Applicant Tracking Systems (ATS) and highly automated user-friendly applications that our combined customers will benefit from significantly. Global HR Research (GHRR), founded in 2005, is a leading provider of pre-hire intelligence and employee onboarding solutions, primarily focusing on background screening. Their proprietary platform helps customers make better hiring decisions by providing a comprehensive set of tools for employment screening, compliance, and risk management. Each year, the GHRR team services more than 6,500 accounts and performs 10 million searches. GHRR has earned the trust of numerous companies in the Fortune Top 50, Forbes' Largest Private Companies, and Inc's Top 5000 companies across the U.S. That trust, and their focus on exceptional customer support, is why GHRR was just recognized as the #1 overall ranked provider of "Enterprise Pre-Employment Screening" services according to HRO Today's Bakers Dozen. Additionally, GHRR received the #1 rank in the customer service category for employee screening providers. "Global HR Research is a long-standing brand that has built its reputation on trust and prioritizing the customer experience. I have followed them over the years and have always been impressed with their organic growth and successful strategic acquisitions. Like DISA, customer care distinguishes GHRR from the competition and is exemplified by an impressive retention rate and NPS score. I believe that the combination of our two entities will strengthen our industry-leading position, enhance the depth of our expertise, and ensure we continue to provide the most comprehensive employee screening services. Together, we will identify best practices, implement innovative solutions, and assist our customers as they mitigate risk and safeguard their businesses." -DISA CEO John Peterson Kevin Smith, GHRR Executive Chairman & CEO, added, I have known DISA for a long time as a respected industry leader. We share similar philosophies and values regarding employee success, operational excellence, and customer service. It is important to me that our customers continue to experience these values. The combination of these two companies will positively impact employees and customers, and I'm excited about DISA's vision for the future. To ensure continuity, DISA plans to maintain the existing Global HR Research offices, as well as the teams that have retained such high customer loyalty. DISA is committed to providing all customers with comprehensive employee screening programs and exceptional customer support. About DISA Global Solutions Founded in 1986, DISA is the industry-leading provider of employee screening and compliance services. Headquartered in Houston, with 36 offices throughout the U.S. and Canada, DISA's comprehensive scope of services includes drug and alcohol testing, background screening, occupational health, and transportation compliance. DISA assists employers in making informed staffing decisions while building a culture of safety in their workplace.

Read More

HR ANALYTICS,RECRUITMENT & RETENTION

New Paychex Products Help Businesses Improve Recruiting, Hiring, Onboarding, and Retaining their Employees

Paychex | November 07, 2022

Paychex, Inc., a leading provider of integrated human capital management software solutions for human resources, payroll, benefits, and insurance services, has announced new enhancements designed to help improve the employee experience from pre-employment through retention. The latest products and solutions help provide a seamless experience for both employers and employees using Paychex Flex®, the company's SaaS-based HR application, as well as the customized service and HR advisory support available from Paychex. "Now more than ever, a positive first impression with a prospective employer is essential. HR technology plays a critical role in how employers meet candidates, extend offers, digitally onboard, and retain employees through the first 90-days, when the chance for turnover is at its highest, The products included in our most recent release were developed to strengthen the employer-employee relationship and support businesses as they prioritize their workforces to create better experiences for increased employee retention and satisfaction." -Tom Hammond, vice president of corporate strategy and product management The 2022 Paychex Pulse of HR Report, an annual study commissioned by Paychex that provides an in-depth look at how HR leaders are adapting to support employees in a new era of work, found that 50% of respondents say that their organizations are not effective at hiring, onboarding, and retention. The following solutions and product enhancements make up the current Paychex product release and the company's efforts to enhance the employee lifecycle and experience: Paychex Flex Hiring: Makes hiring easier by automating tasks and actions for clients to quickly recruit and hire new talent. This Paychex Flex feature assists clients with a variety of recruitment tactics, from posting a job to digitally sending offer letters to top candidates. Paychex research has shown that three out of four clients surveyed said they have shortened the time required for recruiting, screening, tracking, and onboarding of new employees through using Paychex Flex. An average time savings of 26% was reported by those clients that reported a shortened timeframe. For example, a client's two-month recruiting and hiring cycle could be reduced to six weeks. Paychex Flex Onboarding: Simplifies the onboarding experience by integrating essential steps directly within Paychex Flex. Advancements allow new hires to complete critical documentation, including direct deposit authorization, W4, state withholding forms, and Form I-9s from the device of choice for a paperless onboarding experience. Paychex Flex Time: Helps create a seamless and unified experience for Paychex Flex Time admin and employee users for controlling scheduling needs, managing time off requests, approving employee timecards, and reviewing data to ensure accuracy for pay periods. Flock Benefits Administration by Paychex: Provides clients with industry-leading benefits administration technology with advanced features and a best-in-class customer experience. This product helps makes insurance accessible to employees through easy-to-use enrollment workflows and in-app video tutorials that drive employee self-service and efficiency for employers managing benefits. Paychex Voice Assist: Provides a new way for payroll admin users to complete payroll and HR-related functions and tasks. Users can now complete payroll from anywhere simply by saying "Hey Google, Talk to Paychex Flex" on any Google Assistant™--enabled device. Paychex Voice Assist is a natural extension of the company's expansive self-service capabilities. Continuous market research allows us to leverage quantitative data to quickly address the business needs and challenges of our clients, Our most recent research revealed that 97% of Paychex clients said an online portal for employee self-service or HR-related tasks from any device or location was very or extremely important to strengthening employee relationships. The fall product release brings intuitive solutions to market that support businesses and enhance the employee experience,added Maureen Lally, vice president of marketing for Paychex. About Paychex Paychex, Inc. (Nasdaq: PAYX) is a leading provider of integrated human capital management solutions for human resources, payroll, benefits, and insurance services. By combining innovative software-as-a-service technology and mobility platform with dedicated, personal service, Paychex empowers business owners to focus on the growth and management of their business. Backed by 50 years of industry expertise, Paychex serves more than 730,000 payroll clients as of May 31, 2022 in the U.S. and Europe, and pays one out of every 12 American private sector employees.

Read More

EMPLOYEE EXPERIENCE,EMPLOYEE ENGAGEMENT

UKG partners with Xoxoday to elevate the employee experience for organizations

UKG | December 01, 2022

Xoxoday, a global SaaS Fintech company known for its rewards, engagement, and loyalty infrastructure for businesses, announced a technology partnership with UKG, a leading provider of HR, payroll, & workforce management solutions. This will help organizations and HR leaders elevate the workplace experience through a holistic employee engagement approach that connects, aligns, empowers, & motivates teams. This partnership helps solve significant new-age crises of disengagement and attrition by focusing on employee experience. While UKG helps streamline human capital management and HR service delivery, Xoxoday Empuls helps drive multi-dimensional employee engagement. The partnership also aims to address challenges brought about by the 'Great Resignation' by attracting and retaining top talent, maximizing ROI from every business' biggest resource - their people. UKG solutions are developed with the UKG Life-work Technology™ approach to solution design. Life-work Technology has two components: people systems that inspire the workforce by enabling autonomy & flexibility and connecting people to their colleagues and roles with purpose; and work systems to help businesses thrive by offering higher productivity, optimizing teamwork, and providing more opportunities for people to support each other and their communities. "At UKG, we strive to create lifelong partnerships with our customers, helping them create modern people experiences to drive better business outcomes and anticipate employee needs beyond just work, By cultivating a highly engaged ecosystem of technology partners, including Xoxoday, we're able to help create a more seamless and empowering technology experience." -Mike May, VP, Technology Partnerships, UKG Manoj Agarwal, Co-founder, Xoxoday, says, The partnership comes at a time when technology is getting democratized faster than before, and two strong products, that are solving adjacent problems, come together to provide a better value proposition to their customers while using it as a growth flywheel for both businesses. The partnership with UKG strengthens our vision to create a connected & motivated workforce, breaking silos to achieve better outcomes. About Xoxoday Xoxoday is a rapidly growing fintech SaaS firm that propels business growth while focusing on human motivation. Backed by Giift and Apis Partners Growth Fund II, Xoxoday offers a suite of three products - Plum, Empuls, and Compass. Xoxoday works with 5,000+ clients across 100+ countries serving 80 million+ end-users. Xoxoday is a 380+ strong team with nine global offices across USA, Ireland, UAE, India, Singapore, Indonesia, Sri Lanka, and Nigeria.

Read More

HR ANALYTICS,HR STRATEGY

DISA Global Solutions Completes Acquisition of Global HR Research

DISA Global Solutions and Global HR Research | December 02, 2022

DISA Global Solutions has completed a transformative deal to acquire Global HR Research (GHRR), another industry-leading provider of employee screening services. This is DISA's 30th acquisition in the last five years, complementing our strong organic growth over the same period and accelerating our growth strategy. In addition to expanding our scope of services and balancing our product mix, this transaction also diversifies our end markets, particularly in healthcare. Additionally, GHRR has an extensive network of integrated Applicant Tracking Systems (ATS) and highly automated user-friendly applications that our combined customers will benefit from significantly. Global HR Research (GHRR), founded in 2005, is a leading provider of pre-hire intelligence and employee onboarding solutions, primarily focusing on background screening. Their proprietary platform helps customers make better hiring decisions by providing a comprehensive set of tools for employment screening, compliance, and risk management. Each year, the GHRR team services more than 6,500 accounts and performs 10 million searches. GHRR has earned the trust of numerous companies in the Fortune Top 50, Forbes' Largest Private Companies, and Inc's Top 5000 companies across the U.S. That trust, and their focus on exceptional customer support, is why GHRR was just recognized as the #1 overall ranked provider of "Enterprise Pre-Employment Screening" services according to HRO Today's Bakers Dozen. Additionally, GHRR received the #1 rank in the customer service category for employee screening providers. "Global HR Research is a long-standing brand that has built its reputation on trust and prioritizing the customer experience. I have followed them over the years and have always been impressed with their organic growth and successful strategic acquisitions. Like DISA, customer care distinguishes GHRR from the competition and is exemplified by an impressive retention rate and NPS score. I believe that the combination of our two entities will strengthen our industry-leading position, enhance the depth of our expertise, and ensure we continue to provide the most comprehensive employee screening services. Together, we will identify best practices, implement innovative solutions, and assist our customers as they mitigate risk and safeguard their businesses." -DISA CEO John Peterson Kevin Smith, GHRR Executive Chairman & CEO, added, I have known DISA for a long time as a respected industry leader. We share similar philosophies and values regarding employee success, operational excellence, and customer service. It is important to me that our customers continue to experience these values. The combination of these two companies will positively impact employees and customers, and I'm excited about DISA's vision for the future. To ensure continuity, DISA plans to maintain the existing Global HR Research offices, as well as the teams that have retained such high customer loyalty. DISA is committed to providing all customers with comprehensive employee screening programs and exceptional customer support. About DISA Global Solutions Founded in 1986, DISA is the industry-leading provider of employee screening and compliance services. Headquartered in Houston, with 36 offices throughout the U.S. and Canada, DISA's comprehensive scope of services includes drug and alcohol testing, background screening, occupational health, and transportation compliance. DISA assists employers in making informed staffing decisions while building a culture of safety in their workplace.

Read More

Events