Millennial--- never has a generation been in the driver seat, as much as you. Some would argue baby boomers have always been the driving force in America. Move over boomers, by 2025, millennials will make up 75% of the workforce, according to the U.S. Bureau of Labor & Statistics.
Business leaders are strategically trying to figure millenials out. Many of them are asking, how do we manage millenials? How can we make them adapt? What's wrong with them? You may even hear derogatory comments toward them. Let's cut out the name calling, blame game and look at how their digital fluency can benefit the rubber industry.
What do the Rubber Industry & Millennials need from each other?
It's simple for corporations: fill the void of those retired skilled workers, and make us money. For millenials, it seems are little more complicated, this is where the rubber is meeting the road. Millennials want purpose, work-life balance, & their opinions need to matter, just to name a few. The misconception is they want to be CEO in 6 months, not necessarily, they want their voices heard.
So how do you recruit?
Some millenials perceive the rubber industry as dirty, boring, and low-paying jobs. Skilled rubber manufacturers, on average, can make nearly 80,000 a year. Rubber executives have to promote the industry by starting to recruit young talent. Look for opportunities to participate in S.T.E.M. programs. Speak with young innovators and give facility tours, as early as elementary school. You can change attitudes one mind at a time. Establish a co-op or internship program by partnering with local high schools, trade schools, and universities.
How to retain your new talent?
It's no secret millennials will jump ship in a New York minute. Does corporate loyalty even exist anymore? Corporations invest in your talent so that investment will pay dividends. In order to retain young talent institute a mentor program to transfer knowledge from older to younger. Having a multi-generational team encourages collaboration among millennials, generation Xers, and baby boomers. This also gives millennials the ability see their opinion is valued.
How do you reward millennials?
Salary is not enough for millenials—don't get me wrong they want to be paid. This generation is looking for an experience. That's one reason social media is so popular. Business executives need to show how coming to work is not only fun but invigorating. Milllennials want community service projects and encouraging personal and professional development activities.
There are signs of new life that rubber manufacturing is making a comeback. Millenials are considering those skilled positions. Now it's up to the older generations to listen, embrace, and adapt to their digital expertise. Millenials also have to embody their elder's experience.
Elite is at the forefront of implementing strategies to get millenials to buy into itsCompounding Competence, as they transition to be an Applicative Compounder. For more information check out our blogs.