How to Recruit and Retain the Millennial GenerationFebruary 1, 2017 - By: Jason Carney
Millennials are defined as individuals born between 1976 and 2001. By 2020, nearly half of the workforce will be made up of these 80 million young adults. What does this mean for the future your company?
Millennials grew up in a digitally-evolved environment – from the rise of the cell phone to the evolution of social media. This has its advantages when it comes to innovative ideas and creativity in the workplace, but also means these professionals have certain expectations when it comes to their professional life. Here are some tips we’ve compiled on recruiting and retaining millennials:
- Rethink job perks
Millennials are looking for more than paid time off when it comes to choosing their next job – they want to feel they are valued as individuals. Flexible hours, a clear path to promotion and professional development opportunities are all ways this generation of workers will feel you are investing in them and in their future.
- Be transparent
In our age of digital evolution, transparency is more important than ever. For millennials, transparency in the workplace is about more than just openness, it is about trust. This means making sure policies are clear and fair, sharing details about the state of the company when appropriate, and giving employees opportunities to understand and connect with management.
- Provide real-time feedback
Raised in an environment of constant feedback, millennials experience a culture shock when they enter the workforce and only hear from their supervisor once a year on whether they are meeting expectations. While an annual performance review is still beneficial, millennials respond more positively to clear and consistent direction for improvement. This could mean anything as simple as sitting down 15 minutes a month to discuss recommendations for bettered performance.
- Purpose beyond a paycheck
For millennials, going to work every day is about more than just earning a living – they want to connect with their company and its mission. Consider creating opportunities for the team to give back to the community and implementing policies that demonstrate corporate responsibility.
- Facilitate teamwork
With social media always at their fingertips, millennials crave direct social interaction at work too. Implementing a team structure in the workplace will give this generation of professionals more opportunities to share their voice as well as a platform for direct feedback from coworkers on a consistent basis. This could mean anything from setting up department-wide brainstorming sessions to facilitating one-on-one mentoring opportunities.
A recent Gallup report concluded that 21 percent of millennials changed jobs in the last year – stay ahead of the curve and keep this generation of future leaders from wanting to look elsewhere.
What are some ways your company is fostering a positive work environment for millennials?