Over the next several years, millennials are expected to make up about half of the country’s workforce. As more baby boomers retire, millennials will begin to shape the U.S. workforce. While the generational divide can make recruiting new employees a challenge, the reality is this new generation will soon be driving your company’s bottom line.
When recruiting millennials, many companies have been smart to offer perks specific to what this generation is seeking. Below are five of millennials’ most requested incentives from their employers.
- Professional Freedom
Many millennials grew up watching both parents work around-the-clock, so naturally, they’ve grown to appreciate work-life balance. By giving millennials some freedom with their schedules – such as the option to telecommute or work a flex schedule, particularly during busy seasons – creates the type of culture where millennials tend to thrive and produce greater results for their employers.
When accepting a job offer, the majority of millennials are looking for a “sense of purpose” beyond just the work. Millennials thrive most when in an environment where they clearly see how their work impacts the company as well as their industry and society at large. Employers can accomplish this by removing bureaucracy and increasing transparency. In other words, millennials want to feel as though they are “insiders,” with access to as much information about overall goals as possible.
- Training and Development
It’s true that millennials tend to leave jobs faster, but one reason for doing so is lack of leadership development. Millennials are not afraid to take a leap to further their careers, and typically, this means moving to a new company with better opportunities. By investing in millennial employees’ growth within your organization, you create a culture of development, not only keeping young employees satisfied, but also investing in your company’s future.
Unlike baby-boomers nearing retirement, or even mid-career Gen-Xers, millennials tend to be native technology users. Studies show millennials most often use mobile to search for jobs, and they expect a certain level of technology on-the-job as well. Similarly, most younger workers – and now many older workers – feel it’s acceptable to use social media throughout the day. Many employers have learned they can either embrace this, or risk losing workers to employers who will.
Millennials value open lines of communications and appreciate having their views and opinions heard. By giving them a voice in the organization, they feel more invested in the work. Likewise, don’t wait until the annual review to provide feedback. This tends to be demotivating for millennials who have grown used to constant assessment. Consider setting short-term goals with regular check-ins. You’ll likely see enhanced performance as well.
To learn more about recruiting and retaining millennial talent, call 630-858-8500 or email firstname.lastname@example.org for more information.