Managing Millennials

How do you manage a millennial workforce? Katie Acheson, the CEO of Youth Action and Evan Goodman, serial entrepreneur and small business mentor join the Better Business Podcast to discuss what small business owners and employers can do to recruit, manage and retain millennial workers. Also joining the show is Employment Relations Expert Thorunn Arnadottir who chats about the recent changes to the Minimum Wage and Penalty Rates.

Fairly or unfairly millennials are perhaps the most stereotyped of all professional workers. Some consider them ambitious, adaptive and technologically-savvy, others see them as lazy, entitled and over-confident.

Yet while we squabble over the merits of millennial workers there is a bigger issue emerging.

The 2018 Deloitte Millennial Survey found that Millennials’ opinion of business ethics is at its lowest level in four years.

Worryingly, less than half of millennials believe business has a positive impact on society.

Yet, by 2025 millennials will make up 75% of the Australian workforce. So if they aren’t your colleagues, employees or bosses already, they soon will be.

Clearly there are some potential issues here that we need to address.

To help us discuss the world of millennials — and how to manage them — we talk with Katie Acheson, CEO of Youth Action, the peak body representing young people and youth services in New South Wales.

And we’re also joined by Evan Goodman, a serial entrepreneur, management expert and business mentor who — for more than 30 years — has helped businesses grow, scale and manage change.

Also joining the show is Employment Relations Expert Thorunn Arnadottir who chats about the recent changes to the Minimum Wage and Penalty Rates.

 

The Take-Aways

• Forget ball pits and in-house baristas, the humble crossword might be all it takes to engage millennial workers
• Why millennials change jobs and careers so frequently
• Why successfully onboarding your young staff could be the missing link in your business
• How establishing your business values focuses millennial staff and makes them more likely to stay
• How the recent changes to the Minimum Wage and Penalty Rates affect your business