4 Keys to Attract Millennials to your Workplace

March 4, 2020 by  

In 2016, millennials (a generation usually defined by those born between 1981 and 1996) became the largest generation in the workforce.
In the years to come, the members of this generation will be the ones to eventually assume the managerial reins of companies the world over.
To ensure the security of your company’s future in light of the retiring Baby Boomer generation, it is essential to court millennial job seekers.
But what exactly attracts millennials to a job? What are millennials seeking in their ideal position?

Here are some issues they are seeking:
1. Flexible Workstyles
It can be argued that millennials care more about work-life balance than a desirable salary. With the lightning-fast advancement of technology in recent years, and the ability for distributed teams to communicate via multiple channels such as Slack, Google Hangouts, Zoom, and more, the traditional 9-5 workday doesn’t always resonate with the millennial job seeker.
Millennials are willing and ready to deliver results, but they don’t want to do so at the cost of their mental health as this is an important priority to them, especially considering depression is on the rise among millennials. It is no wonder that this generation gravitates to workplaces that honour healthy work-life balances.
How to introduce flexible workstyles in your office: remote work options such as telecommuting from a home office or elsewhere is becoming increasingly popular these days. As long as your millennial employees are getting their work done, there’s no reason to force them into a 9-5 mould. If full telecommuting isn’t possible, consider offering the option for 1-3 days out of the week to be worked at home, or introduce half days where an employee comes in for a few hours and then continues their work at home.

2. Opportunities for Growth
Millennials care about growth. Work for the sake of work, especially tedious grunt work that doesn’t seem to have any underlying value, is the quickest way to repel millennial talent away from your office.
Millennials need to be mentally stimulated, challenged, and engaged in the workplace. They want to feel as if they are evolving and getting somewhere, instead of remaining stagnant in a routine. They seek opportunities to learn new skills so that they do not get bored and disengage.
Therefore, professional development opportunities are key to attracting quality millennial talent. Millennials need to be challenged and nurtured, and by showing you are investing in their talents and growth, you are allowing some of the best and most growth-driven millennials know that you aren’t just looking for a warm body to fill a role, rather you are looking for someone to grow WITH the company.
Consider mentorship programs between senior management and millennials who are interested in growing within the company ranks. Offer training programs, continuing education opportunities, and admission to industry-specific conferences where your employees can network, learn, and gain new skills. Growth-oriented millennials thrive on opportunities to learn, and the more opportunities you give them, the more likely you will retain them long-term.

3. Competitive Salaries and Benefits
Many millennials grew up watching their parents struggle financially despite putting in decades of hard work. With crippling student loan debts and soaring expenses burdening them, millennials aren’t interested in giving up a lifetime of work before they start to see the financial payoff. They want competitive salaries and benefits right off the bat.
Some of the most significant trends for millennial employees, or simply younger employees in general, want a higher salary and better benefits immediately. Now, this isn’t always the case, but there seems to be less of an acceptance of the apprenticeship phase now than there used to be.
Low-ball offers aren’t going to attract millennial workers. But it is not just because the bills at home need to be paid. Millennials see salaries as the means by which they can live a more fulfilling life. Put another way, it is not so much the money, but the experiences that the money can reward them with.
Which is why impressive benefits are also a magnet when it comes to attracting millennial job seekers. These benefits ideally should be ones that add to the millennial’s work-life balance or career advancement. Consider creative perks such as a monthly allowance for a gym or yoga studio membership, internet and/or phone bill subsidies, continuing education subsidies, additional annual leave, free meals, and regular team-building activities and functions, just to name a few.

4. A Sense of Purpose
Two things are generally understood about millennials: they value experiences over possessions, and they want to feel passion for the work that they do. That second truth can be summed up that millennials care more about purpose than money. If a position doesn’t fulfil them and make them feel as if they are doing significant, meaningful work, they either will pass on it altogether, or they won’t stay very long in the position if they do accept it. This may be one of the reasons there seems to be such high turnover with this generation of workers.
Having a Purpose is essential for any employee, but that is especially the case for millennials. This generation in particular, more than any other, craves making a positive impact in the world.
Ensuring that your workplace has a meaningful vision that is the driving force for all you do is absolutely essential if you wish to attract millennials to your workforce. Be clear on how your company plays a role in creating positive change in the world. Help your millennial employees make the connection between the work they do and the difference it makes in the lives of others. If they feel that their role contributes to a bigger picture that is tied to something meaningful and impactful, they will find the work rewarding and stay for the long-term.

Is the future of your company secure? Millennials already make up the largest generation in the workforce. It won’t be long before this is true in every workforce globally. With Baby Boomers retiring, the sustainability of your company depends on attracting and retaining the next generation and using the strategies above, you will make your workplace more attractive to the millennial job seeker.

5 Ways to Keep Your Millennial Workforce Engaged

February 6, 2020 by  

With an ever-increasing growth in the composition of Millennials in the workforce, understanding their needs and applying strategies for their retention has become extremely critical in the business world. Employee engagement is, after all, a real problem for high performing teams.
So many Millennials have quit their jobs that the statistics are shocking. 21% of millennial workers had left their jobs in the last year to do something else. Employee engagement means more to this biggest job-hopping generation, as compared to the baby boomers. Millennials want to be engaged in their jobs which means they want to feel a sense of profound connection to the work that they are doing. This has to come along with high levels of well-being and a healthy work-life balance.

Companies with highly engaged work forces outperform their peers by 147% in earnings per share.
Given this generation owns a fair share of the total work force population; organizations need to find what it is that they want in order to have a truly enriching employee experience for them.

Here are some of the things employers can do to ensure they do not suffer from the statistics mentioned above.

Relook at your recruitment process
The biggest brands get thousands of applications on a daily basis for various positions. Most of them go unnoticed, as they can end up tracking back to spam box. But one bad experience might mean companies losing out on a talent for the future. Candidates do not want to go through gruelling levels of selection, only to not even get notified about the results. This is why companies are thinking more about how to create market experiences for employees, throughout their application process.
The presence of online employer review sites such as Glassdoor has increased the transparency of company culture and the hiring tactics at a global level. Nearly 66% of job seekers have had a poor candidate experience and 72% of them have shared their experience on Glassdoor. This is why companies have started focusing on updating candidates who apply for a job about the process from time to time so that they do not feel discouraged or will feel urged to give a bad review.

Say yes to the freelancing economy
The world is moving towards a “contract” economy as the Freelancer’s Union predicts that at least 40% of the workforce will be freelancers in the next few years. One of the major reasons why Millenials quit their jobs is the lack of flexibility offered. They want to be a part of a “gig” economy which means having the freedom to work from anywhere and harness the power of technology to interact and communicate. They prefer using mobile devices to stay updated and connected to their peers.
This is the new reality because and now 93% of companies already identify the blended workforce as they are seeing freelance workers teaming up with employees to work on projects together. This means organizations should no longer impose strict regulations when it comes to office timings or work schedules and open up to a remote workforce. As long as deadlines are being met for projects, it should not matter where they are doing their part or when as long as their portion is ready at the appropriate time and made available to the rest of the team.

Ensure continuous feedback and mentoring
Another critical transition that is required is to have performance management become an ongoing and continuous process in organizations. Managers will play a critical role in achieving that as their interaction and contribution is key to making continuous performance reviews a success. 54% of millenials have reported having frequently felt that their manager is unprepared to give feedback during performance reviews. Such a system will not work anymore as feedback is so important to Millenials. They want to know how they are performing and what is needed for improvement. Hence, performance reviews need to move from being a once a year event to regular review meetings, pulse surveys, and the like. Managers also need to be held accountable for their contribution in bringing about behavioural changes in millennial employees. It is the role of a manager to try to help each team member fulfill their potential and to acknowledge their contributions to the team effort. That is why they must get to know the team members and what their gifts are so that everyone can benefit from what they bring to the table and feel appreciated for their input.
A traditional system like annual reviews and ranks will definitely not work for Millenials. They want to know how they are performing and what is needed for improvement. Hence, performance reviews need to move from being a once in a year event to 360-degree reviews, pulse surveys and more regular constructive criticism, support and encouragement. Managers also need to be held accountable for their contribution in bringing about behavioural changes in millennial employees. They need to be given the opportunities to be able to contribute to the professional development of their subordinates and do so in a personal manner.

Give emphasis to overall employee wellness
There is a massive rise in the use of wellness programs in companies to lower absenteeism, attract talent and save on health care costs. Fewer than half of American workers say that their company supports employee well being and helps them maintain a healthy lifestyle. Workplace stress has increased which has led to a massive decrease in employee engagement and motivation levels.
This is why companies need to implement ways to eradicate the massive rise in workplace stress and invest in creating a holistic work experience which helps employees maintain a healthy work-life balance. To create an enriching employee experience, strategies need to start right from on-boarding the new hire to exit interviews. Everything that impacts the daily life of the employees, within and outside the workplace should be explored well and help to enable a positive impact.

Offer avenues for continuous learning
The Millennials want to grow continuously in their professional career and they want to be involved in organizations which understand this aspiration of theirs. 87% of Millennials say development is important in a job. Career growth is the biggest contributor to higher retention levels for this generation. With the massive rise in the manufacture and use of mobile devices and the internet, knowledge can be accessed at the click of a button. Millennials want to be actively learning and on-demand training and access to a pool of rich content are what can keep them satisfied and engaged. Training delivered across mediums and devices which enhances or updates the skills that they already have and also offers them new ones, along with flexible learning opportunities can give them the assurance that their organizations deeply care for their professional development.

As Millennials enter the workforce, they have certain expectations as they are educated, well aware, technologically savvy, and full of choices. It will be interesting to see how organizations will strategize their employee engagement programs and make it suitable for the Millennials.