If you don’t already work alongside Millennials, the chances are that you will soon. Allianz recently posted that are those born between 1980 and the early 2000s, the eldest Millennials are in the workplace now and by 2025 will make up 75 percent of the global workforce. While they’ve got the numbers in force, it’s easy to find negativity towards hiring Millennials, primarily due to their fickle nature when it comes to job-hopping. A greater understanding about what makes Millennials tick is an easy way to build a culture that’s likely to keep them engaged.
An attractive employer to Millennials is one who:
Sets a Clear Company Purpose and Goals
The Deloitte Millennial Survey 2015 indicated that 77% of Connected Millennials said that part of the reason they chose to work where they do is because of the company’s sense of purpose.
Setting clear company goals, making your purpose clear is an easy way to attract Millennials whose thoughts are aligned with the company’s. Developing cascading goals that trickle down to each employee, so that they can see how they’re helping to achieve the overall vision are a great way to keep Millennials motivated. Particularly as the survey also showed that a huge 75% of Millennials believe that businesses are focused on their own agenda rather than society. Show them how they fit into the company’s big picture, and communicate that vision from day one.
Makes Sure that the Relationship is Mutually Beneficial
Millennials are looking to learn from their employers, so it’s important to provide a mutually beneficial working relationship with your hires. Only 28 percent of Millennials feel that their current organisation is making full use of their skills. So, offer them the opportunity to grow, innovate and support their projects, teaching them what you can along the way. A sense of purpose is why 60% chose to work for their current employer, and in supporting their aspirations, you’ll be giving them a reason to stay.
Further, be aware of the types of benefits that Millennials will look for. This group aren’t necessarily looking for insurance benefits as many graduates will be on their parents’ insurance until 26. However, benefits across retail and electronics brands are more likely to draw them in. An HR software platform with inbuilt Employee Perks is a great way to offer a broad package to appeal to Millennials and other employees.
Make Clear Progression Achievable
There’s no doubt in saying that Millennials are high achievers. More than half of them aspire to become a leader of the most senior executive in their current organisation. Promote from within and make sure that career progression is both clear and achievable.
A young leaders program within your organisation is a great way to indicate to your Millennials that your company recognises their potential and is willing to provide training to develop their skills to take them to the next level.
Keeps Things Personal
Millennials are keen to focus on people while the general admission was that today’s leaders focus on profit and personal reward. Millennials aren’t keen to be just another number on a chain, they’re eager to know the value of their personal worth.
Rather than turning culture competitive, make it a collaborative one, as 88% of Millennials prefer this type of environment. Collaborative team environments are and more personal, bonding experience than employees being in it for themselves.
When it comes down to it, Millennials are more inclined to stick with a company due to the culture it provides them, rather than a monetary benefit. In Achieve’s 2014 Millennial Impact Report, over half of Millennials are willing to take a 15% pay cut to work at a company that matches their ideals. Millennials sometimes get a bad reputation for their ability to job hop, but with a few simple human resources strategies in place, you’ll have smart, motivated employees, eager to become the future leaders of the company and propel it forward.