Millennials—also known as Gen Y—are arguably the most sought-after generational group of potential candidates among top employers. And there are a lot of very good reasons why they’re in such high demand. Approximately 35% of the current North American workforce consists of Millennials. Contrary to a lot of common misconceptions and negative generalizations regarding this generation, most Millennials are killing it in the workforce. Given the fact that the massive influence and presence of this generation will only continue to grow in the coming years, attracting Millennial talent has become an invaluable asset for many companies.
How can you get a piece of the pie? Here are a few useful tips on how to hire Millennials and keep them engaged so they want to continue working for your company for many years to come.
Establish a Growth-Based Transparent Pay Scale
In the past, it was a lot easier for employers to entice top talent into working for their companies. All they had to do was offer competitive salaries, benefits packages, and advancement opportunities and they were a shoe-in when it came to snatching up desirable candidates. While all those things are still important to some degree nowadays, most Millennials are seeking a little more substance and fulfillment out of their employment. Millennials are more interested in being given opportunities to flex their creative muscles and express their emotional intelligence daily rather than simply taking on a mindless desk job.
They want their work to have a deeper meaning and a strong impact on the world in which they’re living so that they know they’re having a positive impact in their communities. In light of this, companies would do well to be transparent about their internal and external initiatives as well as the types of growth opportunities they can offer potential Millennial candidates.
Create a Positive and Productive Company Culture
Employees typically spend anywhere between 37 to 40 hours at work each week. That’s a significant portion of their lives that they’re spending at work. Many employees even work additional hours to make ends meet or stay late to complete important projects on time. Understandably, employees want to feel like their time is valuable and that their work is appreciated. Establishing and maintaining a positive and inclusive company culture can effectively improve productivity.
Maintaining that type of atmosphere in the workplace can be a full time job in and of itself, however. As an employer, there are certain things you can do to let your employees know how much you appreciate them and to build up morale. Organizing company events, celebrating birthdays and milestones, or even instilling incentive programs can all be beneficial to attracting Millennial talent.
Promote Diversity in the Workplace
Unlike previous generations, Millennials tend to be more focused on diversity and inclusion in the workplace—in fact, they thrive because of it. This is mainly due to the fact that shifting cultural and societal perspectives have contributed to a much more diverse and unique workforce whereas that weren’t necessarily recognized or embraced by previous generations. Millennials seek out unique projects that not only require but also vastly benefit from a vast array of cultural perspectives. They crave greater representation in various fields so that they can foster a more positive and diversified workforce for future generations.
Think of Salary as a Secondary Issue
As mentioned, Millennials don’t necessarily consider salary as one of the top factors when applying to jobs. Although salary is certainly important because we all need to eat and pay our bills, it’s more of a secondary consideration compared to factors like potential for upward mobility, integrity, transparency, social responsibility, and overall work fulfillment. Rather than focusing on what your employees can do for your company, you should instead consider what your company can do for your employees and your community at large. These are important factors that a lot of Millennials care about and that seriously impact their decision-making process when applying to jobs or accepting job offers.
Offer Flexible Work Schedules
Another important factor that differentiates Millennials from previous generations in the workforce is that they tend to seriously think about how new opportunities and projects will impact their work-life balance. Millennials are busier than ever. Many of them are still in school continuing their studies to increase their skill sets while others are beginning to think about starting families once they’ve established their careers. Nowadays, work-life balance is an absolute must and most Millennials won’t even consider jobs that cut too much into their personal lives or require long commutes with minimal return. Offering flexible hours and opportunities to work remotely can help expand your company’s talent pool and attract the types of hard working candidates you need.
Offer Unique Perks and Work Incentives
Comprehensive healthcare and dental packages are the standard benefits and work incentives offered by employers, but Millennials are looking for a lot more out of their employment. They want stability, job security, and above all, fulfillment. But there are a few additional perks and incentives that companies can offer to help their Millennial employees achieve their personal and career goals simultaneously.
Oftentimes, work and life are intertwined and for that reason, more and more Millennials are seeking jobs that offer great incentives like paid time off (vacation and sick days), on-site daycare, opportunities to work remotely, free or discounted gym memberships, on-site workout or relaxation facilities, and more. As an employer, you’re certainly not obligated to offer all those things, but a few additional incentives can help set you apart from your competition when it comes to attracting and retaining top Millennial talent.
How Resolve Recruit Inc. Can Help You Attract, Hire, and Retain Top Millennial Talent
As one of the leading staffing agencies in North America, we’ve worked with countless major brands and built up an expansive databased of top-notch Millennial candidates over the years. The experienced staffing agents at Resolve Recruit Inc. can help your hiring managers learn how to recruit and retain Millennial talent. Contact us to learn more.
