Millenials are estimated to account for 75% of the U.S. workforce by 2025. Fortunately for employers, they might be the most studied generation in history. This means research already exists on what millenials find important when it comes to the workplace.
A Brookings study showed that Millennials put an emphasis on corporate social responsibility, teamwork, and shared goals. Additionally, they have a great reverence for the environment, place higher worth on acquiring experiences over material things, and succeed at building communities around shared interests.
With the youngest millennials acquiring their first iPhones at the tender age of 11, to say this generation is “tech-savvy” would be an understatement. Therefore, if you want to appeal to the largest generation in the workforce, you’d best have up-to-date technology. In fact, Yello reported that 1 in 5 Millennials would be deterred from joining a company due to their lack of technology. Additionally, 22% of respondents were less likely to engage with a company due to lack of technology during the interview process.
Members of the Baby Boomer generation are retiring at a rate of 10,000 per day. This means care homes of all kinds (assisted living, retirement, memory care, senior cooperative, etc.) are going to feel the impact of this increase, and they’re going to feel it soon.
It is in the best interest of leaders in the senior care sector to future-proof their workforce. Millennials are known to change jobs more frequently and given the costs associated with turnover, there is clear financial incentive to retain them.
Here are three key components to attracting and retaining a new generation of workers (for a new generation of customers):
1. Adopt a mentorship over management mindset.
Out with the old system that dictates rules and constraints. This generation seeks out mentors that guide and inspire them, crafting relationships of trust and understanding. The mentorship dynamic builds more trust and loyalty than a raise or bonus, as it places value on the relationship instead of a business transaction.
2. Implement progressive technology.
This may sound daunting and expensive, but it doesn’t need to be. You won’t be the first care facility to make a move towards digital record keeping or care coordination. Therefore, finding resources to make the transition successful will be relatively simple. Plus, there are many benefits to this outside of employee retention and recruitment. For instance, the presence of technology in your facility helps you stand out amongst your competitors to potential customers and their families. Especially if the technology helps families better connect to their loved ones in care. Additionally, data you can accrue from various software platforms allows you to make better informed-decisions and evidence higher levels of care to regulatory bodies.
3. Emphasize work/life balance or flexibility.
A key characteristic of the Millennial generation is their focus on flexibility. This is why there has been a great increase in remote job positions and flexible work hours for parents. Moreover, this generation tends to jump ship and look for other jobs when they face burnout, more than their predecessors. There’s no denying that the care sector can be a tricky one to create flexibility in. But consider how your company will combat burnout and help employees deal with the mental and physical demands of caring for the elderly. Can you offer self-scheduling options to create a greater sense of freedom and independence? What about implementing regular “mood-boosters” for staff like chair massages, catered lunches, performance-based PTO incentives, having a decked-out break room, etc?
Ready to make a technology upgrade in your senior care facility?
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