HOW ARE YOU FARING WITH YOUR MILLENNIAL WORKFORCE?

There is a big focus on this generation, who are tech savvy and expect state of the art technology and information at their fingertips. The changing demands of the millennials is good in that it propels organizations and vendors to evolve, scrutinize policies, streamline processes and focus on the employee experience, which has been long overlooked.

The trend towards self-service including cash lump sums has evolved as part of this generational shift. On the positive side, cash reduces administration and offers flexibility to the assignee and the business. All good, or maybe not...organizations are not always conscious that cashing out a service or benefit in kind is effectively transferring responsibility to the transferee. The dilemma is that Millennials don't know what they don't know (not to say that older generations are all-knowing). This means that Millennials may declare a preference for an easy, quick, self-service solution but they are not necessarily aware of longer-term consequences. These can include living in dangerous neighborhoods or sub-standard housing; the choice of a flat screen TV over their partner's career. We seem to be entering an era where companies feel OK with lessening their duty of care towards employees, however we wonder how this aligns with the corporate talent objectives. Does it leave your most valued workforce generation lifetime champions of your corporation?

Choice and flexibility are good but within certain parameters and often only for select demographics. Do you think the flexibility that exists in your own mobility program aligns well to your long-term talent strategy? Which types of flexibility work well for you?