While I may be a ‘millennial’ myself, and therefore a little biased, I am a huge fan of this demographic cohort, and the impact many are having in the workplace. Before I go on about how to attract top-notch talent from the pool of millennials, let’s first take a look at who they actually are.
Millennials are those born between the early 1980s and early 2000s, a group that could make up nearly half of the workforce by 2020. Why is this important? Well, they’re a touch bunch to crack in terms of companies recruiting and hanging on to them. Here are a few tips to help employers better attract the best and brightest among them.
Keep them interested
According to a new survey by Business Insider, more than a third of respondents left their first job within two years, and 24% after two years.
This, however, does not need to be the case if the work is interesting and dynamic enough to keep them put. Millennials do not want to be stuck doing the same thing forever, they want to learn and grow with you and your company. The ability to be creative and flexible in the workplace is hugely important to this generation, as is personal and career development.
Cash is still king
At the end of the day, millennials are just like any other professional in their career, they expect to be paid well. 26% of respondents to the Business Insider survey (mentioned above) said they would have kept their job for a higher salary.
Allow for flexibility
81% of millennials think they should be allowed to make their own hours at work. They have expectations of a more social and flexible business world, and will likely think of moving on if their managers aren’t on board.
Training
Training is a crucial part of any millennials job. They want to lead and believe that entrepreneurship education is vital in the new economy. Make sure you have appropriate on-the-job training in place and allow them to be ambassadors for your brand. Go to a company like FastPrint, print out enough business cards for every member of your team, and let them work their entrepreneurial magic.
82% of millennials describe themselves as being loyal to their employers. Compare this to 1% of HR professionals who would describe millennials as loyal to their employers.
Despite what many HR professinals think, millenials can be extremely loyal to their employers one you get them on board. So give them the opportunity to shine and help grow your business.
Feedback and reward
With such an entrepreneurial nature, millennials want to be evaluated regularly, and progress quickly. One of the best ways of maximising your millennial employees talent is by motivating them and collaborating with them. If clear structures are in place for career development, meaningful work contributions and regular feedback, they are less likely to look for other, more satisying work.
Final word
Millennials are willing to invest in their employers if their employer is willing to give them a platform to make the world a better place.
