All grown up!
There are no official start and end dates to denote an individual’s status as a millennial, but the internet broadly suggests that anybody born between the 1980s and late 2000s can be referenced as a millennial… Therefore, with some millennials now aged in their 20s and 30s, this demographic is very much a part of your present workforce.
A change in values…
A global mobility policy should help to attract and retain the world’s best talent, understanding the values of this group is key to building a successful policy. Key values to Generation Y include flexibility, work-life balance, equality and openness. Generation X (and the Baby Boomers before them) believed in ‘paying one’s dues’ – however, many millennials may take a different view…
Lots of millennials believe in equality from day one. To Gen Y, entry level members and Directors should sit at the same table in an open exchange – all employees have their value whether they are bringing fresh vitality to a Company, or providing an experienced guiding hand; after all, the juniors of today are the leaders of tomorrow…But how can you reflect this in a Global Mobility policy?
If your mobility policy has multiple static levels based solely on job title, consider introducing a customisable policy for all employees. Add flexible/tailored options for the unique requirements of individual employees, for example, do they have a spouse or children? Would a house or flat be better suited to their needs?
Choices & Balance
Instead of awarding set budgets for different areas of a policy, could an equivalent monetary amount be a better way to tempt a millennial to mastermind their own move? Millennials like to know they have options and adapting the policy to the individual is a great start. They also like work life balance and home working / mobile options could be considered to achieve this.
Get tech savvy!
Generally, the millennials and incoming centennials are renowned for being the generations raised on and with technology. They appreciate the convenience provided by mobile working, and apps aiming specifically at the Global Mobility and Relocation industries have developed their own very active market. If you don’t have an app for relocating employees, make it ‘appen!
The International Generation
Millennials were the first generation to regularly holiday overseas growing up; they witnessed the birth of truly affordable air travel and the bargain package holiday. Millennials are internationally and culturally aware with research abilities that have been enhanced by their tech skills; they are not intimidated by the idea of living and working abroad.
Adventure & Opportunity
Full expat packages with big financial incentives were previously used to lure top talent to remote overseas locations. In recent years it is the lure of travel itself that takes millennials around the world. Gen Y actively seeks overseas work experience to enhance their resumes – this is excellent news for Global Mobility and Relocation Service Providers!
Tips for employers
Be reactive and get responsive – ensure staff have the technology to manage relocations well. Create opportunities – with millennials valuing their prospects for growth, employers should endeavour to build chances for their staff to gain international career development. Finally, be as bespoke as possible with your mobility policy – Gen Y view themselves as individuals, not ‘millennial masses’.
Katie Smith, Assoc CIPD, BA Hons, HR Advisor at Alchemy Global Talent Solutions