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Hello industry professionals. My name is Jason Volny and I’m with DrivingSales. This is your Tip of the Week:
Today I want to talk about millennials. It seems like everywhere I go in America or Canada, all dealers are talking about the same thing, “What do I do about these millennials?”. It’s almost like a swear word in many dealerships right now! Because of that I want to talk a little about this topic. What do millennials really want from a workforce, and why are we having such a hard time getting them to work for us?
I’m here to tell you, the answer is really simple: We are not aligned between what they want and what we provide as an organization.
I’m going to cite a company that we did a little bit of research with, MRI Network. They are one of the largest recruiting firms in the world. They have about 1,400 recruiters in 400 offices. They went on a mission trying to find the answer to the question, "what do millennials really want?".
In this study they found that first and foremost millennials want a compensation and benefits package. Second they want an opportunity for advancement. This should give you something look at as you’re going through your organization and check your processes. Are these benefits something you are providing?
By the year 2020 about half of your workforce will be millennials so it’s important right now to start looking at how you can improve processes at your stores, and to maintain and recruit and engage your millennial workforce.
In place of advancement, dealerships provide one-day management programs. Ask yourself as a manager of a store, how often have you said to your people that want a promotion, “If you work hard, then one day you will be promoted". That is a “one-day management program,” and there is NO career path there!
In place of mentorship, dealerships offer shadowing programs.You push the trainee off onto “Dave” who sells 20 cars a month and you tell them to copy what Dave does.
Millennials want work-life balance, dealerships practice “burn to succeed”. Dealerships tell employees they can’t take time off until they get into a groove and start selling cars.
Lastly, Millennials want compensation, dealerships offer commission. Commission isn’t working. You need to start evaluating what you can do on your front, to see if you can appeal to their wants.
This is something you need to think about now, because in 10 years your older generation of workers are going to start retiring. So NOW is the time to start making a few changes.
Stay tuned each week for more DrivingSales Tips of the Week!