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Improving Small Business Hiring Practices in the Millennial Era

By Marc Lawrence Bellucci

Abstract

By 2025, Millennials will likely make up 75% of the workforce, making them the fastest growing group and the quickest to change jobs; subsequently, human resource managers struggle to retain these young, skilled workers. This study is important to human resource managers because without strengthening the Millennial workforce, human resource managers could experience high Millennial turnover leading to decreased performance. Grounded in organizational performance theory, the purpose of this qualitative multiple case study was to explore strategies human resource managers use to acquire and retain Millennials to maximize organizational performance. Participants consisted of 5 human resource managers from 5 small to medium size enterprises in the Midwestern region of the United States who were successful at acquiring and retaining Millennials. Data were collected from semistructured interviews, company documents, and company social media platforms. Thematic analysis was used to analyze the data, which lead to three key themes: competitive benefits and pay, recognizing motivations, and open lines of communication. A key recommendation includes that human resource managers restructure hiring protocols and restructure compensation. This study may contribute to social change as human resource managers who restructure hiring protocols and compensation could retain Millennials and subsequently strengthen and secure economic independence for Millennial employees and their families, while capturing and retaining the next generation entering the workforce

Topics: Human resource, Millennial, Organizational performance, Retention, Skilled workers, Turnover
Publisher: 'IUScholarWorks'
Year: 2020
OAI identifier: oai:scholarworks.waldenu.edu:dissertations-9535
Provided by: Walden University

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