Another college graduation season has come and gone, and with it, a new crop of employees is entering the workforce.
The question is, what are the odds of their success?
A recent survey by the Association of American Colleges and Universities (AACU) showed that only 14% of employers believe new grads are prepared for the workplace (specifically, they’re concerned about communication, critical thinking, and their abilities to work as a team).
Connecting the Expectations of Employers and New Hires
On the flipside, young employees are feeling unappreciated. The 2015 College Graduate Employment Survey showed that today’s new grads are frustrated with the discrepancy between career expectations and the realities of being an entry-level employee.
So how do we go about connecting the expectations of employers and their new hires?
Employers want the total package when hiring new graduates. But they also need to find ways to connect and appeal to top young talent and engage them in long-term career success. This isn’t a passive process. It requires active participation to understand what makes these young employees tick, and what resources will keep them on board.
Get to Know Your Millennials in the Workforce
Internships offer opportunities for all; employers get to showcase their workplace culture, while interns get a look at the organization. And both parties get the benefit of a trial run in a format that’s nonbinding.
Provide On-the-Job Training
Our recent study asking the question, “What do Millennials Want?” showed that today’s young employees are hungry to learn. Internal job training and employee development demonstrates investment in employees. It also shows the company’s commitment to career development and enables the organization to reflect on the needs of the workplace.
Recognize Their Financial Burden
Collectively, millennials are carrying an unprecedented $1 trillion in educational debt. Many have told us that assistance (such as through Bright Horizons soon-to-be-introduced Loan Repay program) could factor heavily into decisions about employment.
Have a Transfer Program
Another item on Millennials’ list is opportunity for job growth. Internal transfer programs help employees see potential career paths beyond their starting job. They also provide experience in other areas of the organization while enabling them to look at different career opportunities.
Establish Mentoring Relationships
Mentoring is an extremely useful tool for new hires; it allows them to learn from established employees and to benefit from their experiences. Such arrangements also provide the mentor with an important leadership role.
Provide a Holistic Company View
Job shadowing allows new employees to observe and participate in the work of another employee. This can be offered within a designated department or as a way for employees to get a broader view of how the organization works.
Nobody’s angling for a 100% satisfaction rate. And certainly, a disconnect between generations in the workplace is not new.
But Millennials are poised to have a giant-sized impact on today’s companies. And with some focused planning, employers can make sure they in a place to capitalize on it.