It is expected that within the next 10 years, 75% of the global workforce will be the millennial generation. To continue growing, you will need to attract them and keep them; therefore, you need to understand them. Knowing what makes them tick will help you build a cohesive, productive workforce.
Millennials are not that different; they want many of the same things your other employees want – flexibility, opportunities for advancement and the chance to make a difference.
- Opportunity for advancement – Older generations are more set; millennials are still finding their way, but they want to grow their careers just as much as any other generation. Therefore, take a look at your review process and how and when promotions and salary increases occur. Millennials are big on feedback, so consider changing the frequency with which you give promotions and salary bumps (to smaller increments) and consider more a qualitative review process (vs. numerical rankings).
- Skills growth – In recent surveys, a large percentage of millennials stated that they wanted to work for someone who was a good motivator…someone who was encouraging and hands-off. No one wanted to work for a micromanager with control issues. Therefore, when hiring, make sure you communicate not only the types of responsibilities they will have, but also what they can expect to learn on the job and from you.
- Flexible work schedules – All generations want flexibility, but millennials have grown up hearing stories about start-ups that offer unbelievable levels of flexibility to their employees AND they know that the technology exists to allow them to have that same level of flexibility. In fact, in a recent survey (Millennals and the Future of Work) 84% of young workers said that they would quit their traditional corporate jobs to pursue more flexible options. So if you do not have on already, you should consider a flex-time plan and a work from home policy. They could have a meaningful impact on your recruiting efforts not only for Millennials, but for Generation X and Baby Boomers as well.
- Social responsibility – Corporate social responsibility is something that Millennials value. Almost ¾ of millennials want to work for a company that promotes some form of community program. So during the recruiting process, promote the roll you company plays in the community and what charitable organizations you support.
Employers of all sizes are making the changes to position themselves as “millennial magnets”. To compete for the best talent, you will have to too. That is where Snelling comes in. We can help you recruit the best and brightest and help you build your workforce of the future. So locate your nearest Snelling office today, and let’s get started.