Retention Strategies for a Multi-Generational Workforce

Retention starts with the recruiting and interview process, and follows the employee through their tenure with your company. Company leaders and HR professionals should be asking themselves “is my recruiting process strong?” and “does our current process address applicants through all career levels?” The current market is reflective of a multi-generational workforce, so you need to be prepared to not only attract talent, but also retain them.

The Onboarding Process

New hire onboarding is a crucial piece of the employee life cycle that sets the tone for the employee’s time with your company. It is important to clarify expectations and outline company culture and norms during this time. Do you have the appropriate employees onboarding your new hires? Is everyone involved in the onboarding process prepared to help the new employee start their role on a positive note?

Total Rewards & Candidate Success

Let’s not forget the big factor of Total Rewards, which are key in the current HR landscape. If you do not have a competitive benchmark for your positions in place, you will not attract or retain the talent your company requires. Ask us about our detailed compensation studies and benchmarking!

Compensation is not the only piece of Total Rewards. Employee leave time is imperative in the current multi-generational workforce landscape. For example, Gen Z wants to make a positive impact in the world, and volunteer time would be a great way to contribute to that need and attract talent from that candidate pool. Millennials are attracted to a work-life balance with flexibility, so a hybrid work schedule or varied time schedules would be a possible deal maker or deal breaker in their world. Gen X, on the other hand have a lot of elderly family members that need care, do you have leave time in place for them?

The Number One Cost-Effective Retention Strategy

Employee recognition, is a great cost-effective way to retain employees. Everyone likes to be recognized regardless of what generation they fall in! Simple things like giving an employee the opportunity to lead a project or recognizing birthdays or hosting a BBQ or Crawfish Boil will go a long way in an employee’s life cycle with you.

There are many options out there to recruit and retain talent, let us help you navigate these strategies and set you up for long-term success with your employees!

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