Who Are Millennials? What You Need to Know to Attract the Young Top Talent to Your Company

Who Are Millennials? What You Need to Know to Attract the Young Top Talent to Your Company

If they’re not already, millennials are going to be a big part of your company’s growth. Here’s how to recruit this dynamic group.

by Ashley Basile Oeken, President, Engage! Cleveland

There are 80 million millennials in the United States. There are 2.5 billion millennials worldwide. In 2016, the number of young professionals in Cleveland numbered more than 175,000 and this population growth outpaced total population growth, post-recession. Just by their scale alone, the millennial generation is a force that businesses need to be aware of.

But it extends beyond just sheer numbers. This group also shares a unique mindset as it relates to how they approach their career. The Generation Ys, The Millennials and the Gen Nexters. When recruiting and engaging these employees where do you begin? The best way to answer that question is to get a better idea of what is motivating the millennial generation as it is a generation with its own mindset. Research suggests that millennials have different aspirations with their work:

  • They want to make a difference.
  • They are achievement-oriented.
  • They stay in positions for only 1.8 years on average.

Now that we know a little more about this group, let’s go back to the original question above: How can employers recruit and engage this group? Let’s break it down bullet-by-bullet.

They want to make a difference

If you want to make a young professional happy, help her/him discover and connect to their purpose. One good way to do this is to use organizations such as Engage! Cleveland as an extension of your HR department. These organizations can introduce your millennial employee to difference-making opportunities that will help keep their batteries charged and make for a more satisfied employee. Research shows that employees who are engaged in their community are 2-3 times more likely to stay.

They are achievement-oriented

Related to the point above, establish creative ways to build professional skills such as getting involved in the nonprofit world. Show them how they can gain skills outside of the work place and how it will help their career. A Millennial might want to be a manager, but doesn’t currently manage other employees. As an example, managing volunteers can be more challenging than managing employees, so, if they can learn to manage volunteers at a nonprofit, they will be in a better position to someday manage employees. This is a check in the right column.

They stay in positions for only 1.8 years on average

If you recruit a millennial employee, you likely want that person to stick around as turnover is a big, scary word in HR. Older generations cared about one thing…drum roll please…MONEY! Salary increases aren’t the only way to increase a millennial’s job satisfaction. Offer a title change and other ways to impact their work and workplace. You might also consider other perks, such as additional vacation time or a flexible schedule. These “perks” that often don’t cost the company money are no brainers and lead to more satisfied employees.

Also, millennials value those companies that honor work-life balance and societal issues. Think about how your organization can best offer a good work-life balance mix and perhaps hold back a bit of salary in exchange. It could very well be a win win for both you and your Millennial employees.

A long-term force

Millennials are going to be a force on the employment scene for some time. Estimates show that 75% of the 2025 workface will be Millennials. So it is imperative, that you think through some of the items above and how they might intersect with your company’s philosophy and you will put your company in a good position to align yourself with millennial recruits.

And just in case you were getting tired of all of the Millennial data, don’t worry, Gen Z, those born between the mid 1990’s and mid 2000’s, will be entering the workforce soon with an entirely different set of priorities.

 

*This post originally appeared on www.cose.org. You can view it here.

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