1
Foreword
The focus of this paper is to stimulate discussion around
It’s been a good year.
exactly how businesses should go about putting this into
Employee satisfaction has been one of the company’s top
practice. We look at understanding how to attract, engage
priorities and initiatives have been kicked off left, right and
and retain millennials. We specifically look at this through a
centre to focus on just that. Change is coming.
technology lens , where the number of new hires from the
millennial talent pool is steeply rising. Rapid growth across
When results of the latest employee satisfaction survey hit
the technology sector means predicted job vacancies are
your inbox, you shake your head in disbelief. Surely there’s a
mounting, as is concern over whether there will be enough
mistake; a typo, a miscount perhaps.
qualified professionals to occupy them.
Employees are still not happy
Technology and the much-publicised gender gap seem to go
hand in hand but will this continue as millennials take over?
Despite every company’s best efforts, bolstering that
Not only is it a missed opportunity for women, but for
employee satisfaction score continues to be an issue. So
companies too, so it is critical to stay mindful of any gender
what’s going wrong? It’s the question on every leader’s lips,
specific differences. And finally, focus on the here and now
the worry on every HR function’s mind.
is valuable, but what about the future? Generation Z are fast
Welcome to a new era of the human capital workforce. For
approaching the workplace so what do companies need to
the first time in history, we’re seeing five generations in the
do to make sure they’re well prepared for this incoming
workplace at the same time, each bringing a unique set of
flurry?
priorities and expectations. With companies leveraging the
same blanket techniques to attract, engage and retain them,
it’s no wonder that these generations are struggling to co-
exist. Recognising that one size doesn’t fit all is critical, and
the time to act is now.
Companies need to better tailor their efforts towards specific
cohorts, and millennials may just be the best place to
start . They currently comprise 35% of the UK workforce (1) ,
and are set to represent an astounding 50% of the global
workforce by 2020 (2) . They bring wants and needs which
differ greatly to those that came before them, and hold more
bargaining power than ever before in the labour marketplace.
Companies need to be aware of how to move that power in
their favour, alluring them with the right selling points, and
plying them with the right perks to make them stick around
once they’re through the door.
Disclaimer: The statements made in this paper are not necessarily true of all Millennial and
Generation Z individuals, rather they represent trends and characteristics typically observed.
© 2017 KPMG LLP, a UK limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG
International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
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