More than one-third of American workers are members of the so-called “Generation Y,” also referred to as the “millennial” generation. ¹ Individuals born between 1981 and 1996 are included in this group. Although the fact that millennials now make up the majority of the workforce surprised me, it makes sense. Boomers and Generation X are retiring, paving the way for millennials to take their place.
It’s possible that many employers aren’t considering the implications of this for their recruitment and retention efforts. Generation X and Baby Boomer-friendly tactics are no longer effective in attracting this new generation. As a result, something must be done. Recruiting, attracting, and retaining employees must be done in a completely new way than in the past. We’ll look at what millennials look for in an employer and how to keep them interested in the hiring process in this article.
Attracting and Understanding the Millennial Generation
Knowing what millennials are looking for in an employer is essential if you hope to attract them. In contrast to previous generations, the desires of millennials are completely different. Many other factors, such as paid time off, job flexibility, working from home, company culture, growth opportunities, etc., are becoming increasingly important in today’s job market. While these conditions are critical for attracting new employees, they are also critical for retaining current employees. Young people are known for changing jobs frequently. Once they’ve gained the necessary experience by working for a company for a period of time, they’re ready for a change. Twenty-one percent of millennials have changed jobs in the last year, which is more than three times the number of non-millennials. In the event that you hire a new employee, you hope that they will be around for a long time. As a result, it’s critical to know what your customers want and need.
Flexible hours and the ability to work from home
There are many millennials who don’t believe in the 9-5 workday. They believe that they are more productive when they work outside of regular business hours and incorporate breaks into their schedules. ‘ If they get the job done and meet the deadlines, why do they need a 9-5 schedule? Millennials are looking for a work-life balance and prefer flexible schedules. Student loans and tuition reimbursement came in second and third, respectively, in a Gallup survey that rated flexibility as the most valuable perk. A Gallup study also found that half of millennials would switch jobs if they could work remotely some of the time.
Despite the fact that many companies don’t offer work-from-home options, new workers are looking for these kinds of perks, according to a recent study. All employers will have to offer some of these benefits in order to attract good millennial talent.
Culture and Professional Development in the Workplace
Millennials place a high value on an organization’s culture. It is important to them that they are able to put their faith in the people they are working with. According to research by Great Place to Work, millennials are 22 times more likely to stay at a company for a long time if they trust the culture. Also, they want to be a part of the company. A Gallup study found that millennials are more engaged with their employers if managers hold regular meetings and give them feedback on their work performance. Millennials can advance their careers within your company by receiving constructive criticism and advice from their peers. In today’s fast-paced world, millennials are driven to succeed. Millennials also place a high value on education and career development. Encouraging them to continue their education by providing them with classes, workshops, seminars, and certifications is a good way to keep them interested.
When it comes to benefits, employers should emphasise nonwork-related perks that appeal to millennials as part of their company culture. Do you have a birthday celebration? Yes, I’m planning a few summer trips. Snacks and beverages are provided free of charge to employees working in your office? A company’s culture is defined by these factors and can help it stand out. Employers can attract and retain more millennials by emphasising the benefits that this generation values.
Helping Customers Learn
The importance of educating your customers is also worth noting in this section of the guide. When it comes to recruiting millennials, recruiters have access to the inside track on what they want in a company. However, you may not know what millennials want from the companies you work for. It’s possible that they’re still using outdated methods they weren’t even aware were outdated. If they are trying to hire younger talent and no one is interested in working for them, they may become frustrated. It will help your clients realise that they need to change some of their habits by educating them. If you can help them attract better employees, they’ll be grateful for your advice. As a recruiter, you will be able to bring in better candidates as a result of this. Both of you will benefit from this.
Attracting and Retaining Talented Young People
Up to this point, we’ve focused on getting to know millennials better and making sure your clients are aware of their wants and needs. The next challenge is to keep your job seekers engaged throughout the hiring process. This can be done in a variety of ways.