Those born between 1980 and 1996 have been given the name millennials - also known as the job hoppers. So, what are millennials looking for? How can you attract and retain millennials at your company?
Millennials are poised to make up the majority of the workforce by 2025 and are already an important part of the working population. They are the first generation of ‘digital natives’ – tech savvy and connected, rarely without a mobile phone or tablet. They have more formal education than any generation in history and, have mastered multitasking through early exposure to a wide range of media.
Understanding what motivates millennials is essential to attracting them to your organisation and ensuring that you can maximise their effectiveness as employees and potential leaders.
Here's everything you should know to attract and retain millennials;
1. They prefer an open company culture
Millennials prefer a traditional office setting. The only difference is that they want it to come with flexibility and work-life balance initiatives. Providing options like remote working and a difference. Millennials want to feel connected to their company and their team, so plan company outings and team-building activities to keep employees engaged and allow them to bond with their co-workers outside of a work environment.
2. They value professional growth and development
Career progression is key for millennials. It’s important to understand that millennials have high levels of student debt and are living in an era of anemic wage growth. Offer opportunities for continuous learning and give millennials the flexibility to try new things. Support them when they want to take risks. Give them the opportunity to test new things and learn from any failures. Provide opportunities for cross-training so employees can grow and work with other teams.
3. They want to make a difference
For many millennials, a job is not just a salary – it's a lifestyle. More workers are channelling their passions at work, focusing on emotional rewards rather than monetary incentives. So as a company, be mission-driven. Millennials want to feel good about their work and make an impact on society at large. Highlight the way your company gives back at the forefront of your initial conversations with talent.
4. They want you to invest in the latest technology systems
Millennial workers feel more at home in a digital workplace than any generation that has come before them. They are used to adapting to new technologies and expect their employer to do the same. When weighing up the cost and benefits of any new systems for their business, employers should remember the potential that such an investment has to attract millennial professionals.
Keep in mind that the path to reaching millennials includes authenticity, exclusivity, engagement, and creating the kind of user experience that appeals to this generation. If successful, you will be rewarded with the loyalty of a consumer group that spends billions annually!