Keeping the Millennials

Sujansky, Joanne G; Ferri-Reed, Jan
June 2010
Keeping the Millennials - Business Book Summaries;6/9/2010, Vol. 1 Issue 1, p1
Book Summary
Book Summary
For the first time in history, corporate managers face the challenge of managing four generations at once: the Matures, Baby Boomers, Generation X, and Generation Y (the Millennials). As Boomers get ready to retire en masse, their children offer a unique challenge to corporations, which need to change their workplace cultures, recruiting methods, and retention strategies or face a loss of billions in turnover. Managers need to help their organizations and employees adapt to the highly educated, technologically savvy, confident, and demanding Millennials. The Millennials, born between 1980 and 1999, do things differently than their Boomer parents and bring a fresh new perspective to the workplace. If corporations make the changes necessary to keep their Millennial hires, all generations will ultimately benefit. In Keeping the Millennials, corporate managers learn strategies to create a multi-generational workplace. To recruit and retain Millennials, the entire organization is going to have to shift in order to keep them, and changes starts from the top. As Sujansky and Ferri-Reed note, �there is a very real cost benefit to bringing Millennials on board. In terms of human capital, they represent not only the future security of your organization; they also offer the prospect of an immediate infusion of innovation and unprecedented energy levels.� Managers and human resources need to partner to propel a culture shift forward. Companies need to take some risks and rethink everything from job descriptions to schedules to communication channels to public relations. Managers and their organizations have to look and act more like the Millennials they are trying to keep�they have to be smart, energetic, technologically savvy, open to new ideas, comfortable with diversity, and in touch with a global community. In preparing to keep the Millennials, companies save billions in turnover costs., but more importantly, all employees will benefit from a...


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