Today, the hashtag, "#RealisticResolutions" is trending on Twitter. Makes sense. We all get reflective this time of year. Additionally, I'm seeing lots of articles predicting business trends for 2016. Looking forward is just as popular as looking back. My industry is no exception. The HR & staffing world (like it, or not) is about to be forced into a huge shift.
What's driving it? Actually, the question should be, "Who's driving it?"
The answer will make a lot of leaders cringe: Millennials.
The Resolution Leaders Can't Afford Not to Make in 2016
The law of supply-and-demand is about to prove itself. Here's what's going to happen: Baby Boomers are leaving the workforce at a rate that's outpacing their replacements. While there are 70M Boomers, there are only 46M Gen X. The result? A talent shortage that will require companies to seek out the most talented Millennials (77M). In fact, Millennials will make up 75% of the working population within five years. Thus, while they might currently be getting fired for their lack of professionalism, soon they'll be the ones doing the firing.
Which leads to the resolution leaders need to make in 2016...
Pay more attention to your team's workplace chemistry.
The best way to ensure your business succeeds next year is to focus on building and maintaining a team that respects, appreciates, and most of all, enjoys collaborating together. Here's why...
Employees Don't Want to Work "For" You, They Want To Partner "With" You
Today, every job is temporary. Gone are the days where you could guarantee a job for as long as a person wanted it. You know it, and so do your employees. Which means, more and more professionals are realizing they're businesses-of-one that must be ready to find a new customer (a/k/a employer) at a moment's notice. Today's worker is becoming more sophisticated. Especially, the Millennials. They understand their network is their net worth. They're connecting on platforms like LinkedIn, staying alert to opportunities. It's never been easier for recruiters to steal your talent. Therefore, employers must consider what makes employees stay. The answer? Studies show several things matter most:
A) Doing work that enables them to see the impact they're having on the customer.
B) Being appreciated and recognized for their contribution to the business.
C) Working with peers they respect and inspire them to be the best they can be.
That third one is the most important? Why? Because when your team has a strong workplace chemistry, it means they collectively see the impact of their work. It also means they are supportive of one another, providing that appreciation and recognition they desire.
To Make Good On The Resolution, Try This...
Many of you won't like the answer. I've been in more than a few management meetings when the suggestion to have more team building exercises has made eyeballs roll and groaning commence. But, there's just no avoiding it. If you want your multi-generational teams to gel better, you must facilitate opportunities for them to find common connection. It's the only way they can become closer and work better together. Keep in mind, the more engaged your team is, the lower your employee turnover. It's very hard to leave a job where your teammates understand and appreciate you. Nobody likes having to start all over making new working relationships. Plus, collaborating with other is what Millennials like most about work. The more collaborative, the better. So, learning how to create a work environment where they can thrive will help your bottom line. [If you want a simple exercise to help assess your team's potential and increase their mutual respect and appreciation, check out Team Decoding.]
If you don't focus on your team's workplace chemistry in 2016, I guarantee you'll be dealing with some unforeseen turnover.
When it comes to talent, it's a seller's market. If you don't build a great place for people work together, they'll go somewhere else - because they can.