How Your Organization Can Attract Millennial Talent Pools
Forty million millennials are working in today’s job market, and by the year 2025, 75% of workers internationally will be millennials. In the last five years 87% of millennial talent has taken on management roles.
Millennials have a reputation for being job-hoppers and are noted to be the least engaged of all the generations in today’s workplace. Gallup reports that six out of ten millennials are willing to consider a new career opportunity. According to Pay Scale / Millennial Branding, millennials have a tenure of two years on average. With such a large group of individuals in the workforce applying to a vast majority of jobs and taking managing positions, how exactly do you attract millennial talent pools? The best method for marketing your job openings is starting with this question: What do millennials care about most?
When you answer this question, you can solve the millennial puzzle! If you want to attract millennial talent pools, here are a few tips regarding what will appeal to this generation of job candidates.
Training and Growth Will Attract Millennial Talent Pools
At the top of the list for attracting millennials is development. Millennials want to learn. In fact, according to a recent Gallup poll, 87% of millennial talent stated that development is important in a career opportunity. To attract millennial talent pools, recruiters and managers should understand that this generation views a career as a chance to grow and learn.
If you don’t train your millennial talent, you run the risk of turnover. A recent Deloitte survey reported that two-thirds of the millennial workforce anticipate leaving their current employer by the year 2020, and 70% say it is due to a lack of leadership development.
A Purpose Beyond a Paycheck Will Attract Millennial Talent Pools
If you can offer a millennial a crystal-clear picture of not only what they are contributing to the company but also to society on a greater scale, you’ve got some arsenal in bag of recruitment tricks to attract millennial candidates. Senior Managing Partner at Accenture Strategy David Smith reports that graduates today are native to digital technology. They are pioneers that want to create and lead their own path, versus following along. Millennial talent pools want to make a direct impact at the starting gate. They are worried that large-scale employers won’t give them that opportunity. Millennial candidates are interested in making a difference for the company while on the job. Smith says, “These employees are saying, ‘I’m not doing enough, and I’m not challenged enough, because I’m not doing everything I know how to do.’”
Perks Attract Millennial Talent Pools
Recruiting top talent is a competition. You are competing against other companies and HR departments that are targeting the same top talent that you are. When you are trying to sway and snag the best of the best with the millennial generation, it can possibly be all about the perks. Every generation can appreciate indulging once in a while; however, millennials are not strangers when it comes to enjoying a little pampering. What can you offer to attract millennial talent pools?
Here are a few suggestions:
- Free snacks or meals
- Tickets to a sporting event
- Paid gym membership or on-site fitness center
- Wellness programs
- Volunteering with PTO in return
- A casual dress code
- Cell phone stipend
- Computer equipment that can be purchased at a discount
If you are looking for creative suggestions, the best ideas can come from your staff, all generations included. Send out a survey and see what your employees want to get some better insight.
Flexibility Will Attract Millennial Talent Pools
Companies are taking note of not only the fact that millennials are the largest generation in the workforce but also a generation with a lot of power and influence. This is why corporations are looking for ways to be millennial-focused when it comes to recruitment and retention.
Pricewaterhouse Coopers went through a change after making some observations. PwC’s human-capital transformation leader Anne Donovan notes that making a workplace environment flexible was at the top and most important. PwC took a survey of its millennial talent, and 95% indicated that work-life balance was valuable to them. Further, more than 25% of young employees responded that they were not pleased with the work-life balance that they were able to keep up. In fact, 45% of millennials would select a job that is flexible over one that pays more.
How do you address flexibility in order to attract millennial talent pools? The answer can be to ditch the 8:00 a.m. to 5:00 p.m. routine. Unique work schedules and work-from-home days help to make millennials feel flexible.
In short, keep an open ear and an open mind for this generation, and you’ll be able to attract millennial talent pools.10