Jeff Walters, President
In this issue:
How to Acquire and Retain Millennial Employees
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5:00 - 8:00
Reservation Deadline: Friday, October 14
Pre-Dinner Technical Session (5:00 -
After-Dinner Technical Session (7:00
- 8:00 pm)
Employees who fall within the Millennials age bracket (individuals born between 1980 and 2000) will make up more than 50% of the workforce within the next 10 years. As a whole, this group is said to differ from Baby Boomers and Gen-Xers in having a more innovative mind-set, aptitude for new technology, and adaptability to different jobs. They want flexibility and work-life integration, have high aspirations, want to make a difference in the world, and desire a work environment more like Google than a conventional hierarchal organization. Here we report ways to improve hiring and retaining millennial employees.
IMA® (Institute of Management Accountants) conducted a survey of senior finance professionals in July 2016 to find out how companies are effectively recruiting and retaining this younger generation.
On average, Millennials make up about 30% of the respondents’ companies. Of the 85 survey respondents:
The biggest challenge mentioned is tenure of employment. 49% said that Millennials stay at their company only 1-3 years! That’s a far cry lower than the baby boomers’ employer for life mentality. They said this turnover often causes several problems including:
Contributing to the high turnover are four issues cited most often as challenges faced in employing Millennials:
The most successful practices for retaining employees within the millennial generation are those that directly address these issues:
The practices that have been most successful in recruiting Millennials are:
Hiring and keeping people in the Millennial age group can be a challenge. Technology makes it easier to find and apply for other jobs and they will leave for “greener pastures” if they see more flexibility, compensation, or opportunities for advancement. Find them the way they find jobs: through friends, college recruiting events, internships, and social networking. Keep them by offering flexible work arrangements, competitive salaries, and an environment where good work is rewarded regardless of seniority or age with increased responsibility and pay raises. These don’t have to be huge increases; just often enough to help them feel their hard work is being recognized and rewarded.
You will earn CMA and CPE credits when you attend any live webinar. Replay webinars are available in the archive but do not earn credits. Advance registration is recommended—IMA webinars are popular and fill up quickly.
The Benefits of Moving from Manual to Mobile Expense Reporting
Ace Your Next Job Interview
No More Vendor Hype: Understand the Latest Technology Trends
Trusting Your Data – Empowering Decisions and Business Foresight
2016-2017 tech sessions will be held at Kozmo's Grille with the exceptions noted below. There are two hour-long sessions beginning at 5:00 and 7:00 and dinner in between.
Cost for dinner is $30 regardless of the location. Please look for invite emails with registration information prior to each meeting.
• Social/Networking at 4:45 pm
• Pre-Dinner Technical Session at 5:00
• Dinner at 6:00 pm
• Post-Dinner Technical Session at 7:00 pm
More info: http://canton.imanet.org
The mission of the Institute of Management Accountants (IMA) is to provide a forum for research, practice development, education, knowledge sharing, and the advocacy of the highest ethical and best business practices in management accounting and finance. Please join us as we promote this mission in the greater Canton, Ohio, area.