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World – Focus on older millennials to avoid ‘succession time bomb’, supported by employment branding

16 August 2016

According to Hays CEO Alistair Cox, the forgotten Millennials, those at the older end of this generation who are already in their early thirties, are starting to move into middle-management roles but unless businesses incentivise them effectively they’ll become a ticking time bomb for employers’ succession plans.

Cox notes that the vast majority of research on Millennials (those born between 1982 and 1994) focuses on the younger end of this generation rather than those now in their early thirties. He states that Millennials in their early 30’s are at a different stage of their lives, and as such will have different motivations when it comes to work. As this important group is beginning to reach the middle-management tier, businesses must focus on these workers to avoid a succession time bomb.

 “Older Millennials are often now on the cusp of moving into crucial middle-management roles, and yet they are often neglected in a business’ thinking and their own development could be suffering,” Cox said. “If businesses continue on this path, they risk losing their next generation of managers and potential future leaders.”

 Cox suggests employers help build a purpose to their brand.

“Ensuring they buy into your corporate culture encourages continued loyalty, especially in your middle-management generation,” Cox said. “To achieve that, you must ensure your company’s external brand positioning stands for something authentic and credible – and that you can articulate this in a simple, engaging way to existing and new employees.”

Elizabeth Rennie, from Staffing Industry Analysts commented “Recruitment Process Outsourcing organisations have been increasingly investing in employment branding offerings to help companies attract and retain talent. Retention of talent should be a top priority particularly of organizations facing aging populations. Strengthening employment brand is a fundamental step to engaging with talent and it can also help significantly in a candidate driven marketplace.”

Cox also suggests honing their leaderships skills, embracing entrepreneurial mindset, offer flexibility in the workplace and nurture alumni employees.

 “With growing concerns around skills shortages in middle management and Millennial discontent seemingly at a tipping point, now is the time for businesses to act and start addressing these concerns,” Cox said.