By 2025, millennials will make up 75% of the global workforce.
The question for employers is: do you have an effective talent acquisition strategy to attract Gen Y employees?
Because, like every generation, millennials desire specific working cultures, environments and job perks. To entice the best of the best you need a solid game plan.
Here are our best tips for recruiting millennials based on fresh insight from our founder, Leon Milns.
A Battle of the Ages?
Adam founder, Leon Milns, recently shared his unique insights on the current landscape for millennials in the digital industry at the BIMA breakfast.
He explained that while Gen X currently make up 65% of the workforce, in the next few years this percentage will sharply decrease as millennials reach prime working age.
There are two ways we can approach this seismic shift:
- With fear and trepidation as we bury our heads in the sand
- With intelligence and enthusiasm as we evolve our mindsets to get the best out of our future leaders
To pursue a bright and healthy future for your business, you must adapt. As Leon encapsulated, to do this we need to overcome specific recruitment challenges:
Increasing skill shortages – we exist in a crowded marketplace where businesses share the same messages and propositions to attract sought-after talent. We have to make our business stand out to turn candidates’ heads.
Retaining staff can be difficult – 50% of millennials expect to leave a role within two years. Without the right opportunities for career progression or adequate engagement, with so much choice, top talent is more likely to move on.
Old traditions hold you back – Gen Y aren’t wedded to permanent employment. Temporary or contracted work is more attractive, and flexible working options are in demand (82% say flexible working options increase their loyalty). Happiness also trumps money – millennials are more concerned with job satisfaction than saving and investing.
These are big challenges, however, you can conquer them. Based on his vast experience, Leon shares tips on how to tackle them.
What Do Millennials Want?
Gen Y doesn’t just crave fridges full of food and hipster glasses. When it comes to employment, they seek …
Cool and Comfortable Offices
Nice digs to work in are at the top of a millennial’s list. A hot topic for this generation is how working environments can affect their performance and mental health. They want high-tech and cleverly-designed offices that make coming into work every day a positive experience
A Source of Inspiration
Millennials want to be inspired. They need leaders who can articulate a clear direction on where the business is now and where it’s going. So they can visualise the impact they’ll have and stay motivated.
Be a leader who dazzles them with energy, finesse and conviction to strengthen your message and attract the leaders of tomorrow.
To Be Emotionally Invested
Having a strong set of defined values is a big employment turn-on for our future leaders. They tie-in job satisfaction with emotional investment: you need to create values that are close to a millennial’s heart, such as strong ethics (75% would take a pay cut to work for a socially responsible company), diversity and freedom of thought.
Understanding what they care about is key. Your goal is to align your company’s values with their personal values.
To Make a Difference
Millennials want to leap out of bed every morning before work, knowing they’re going to do something they enjoy while making a significant difference.
That doesn’t mean you have to ditch your business to build a charity. It’s about ensuring the solutions you offer to your clients and customers (in other words, the work your millennials do) are genuinely helpful, valuable and transformative.
Learning and Development Opportunities
Offering career training and development would keep 86% of millennials from leaving their current position, according to a survey by Bridge.
It’s clear that millennials have a thirst for continued learning and aspire to get better at their craft. How much a business invests in L&D is paramount in attracting and retaining high-performers – you need to demonstrate that career and skill progression is a priority as an employer to secure top talent.
A Decent Work-Life Balance
Flexibility is king when it comes to attracting millennials. The 9-5 is dead. They want the flexibility needed to take care of themselves and their families while maintaining a healthy career.
Flexi-time, working from home and contracted work are just a few of the ways you can appeal to millennials. Tech is a great enabler of this. To overcome the logistical challenges of flexible working, read this!
To Be Healthier and Happier
Our future leaders choose health over wealth. They are looking for employers who have a strong duty of care for their employees so they can be happier and healthier at work and in their personal lives.
For tips on how to make mental health and wellbeing central to your organisation’s culture, check out our recent blog. Do this successfully, and you can reduce sick days and increase employee loyalty, especially in your millennial staff.
Key Lessons from a Recruitment Director
Leon rounded off his talk by outlining the three main points employers should consider when hiring Gen Y talent. Embed these in your mind and ensure your talent acquisition strategy is a millennial magnet:
- Millennials want to go on a journey with a real purpose, sharing the highs and lows
- They want to have fun, work in a great culture and enjoy the ride with like-minded people
- They want to be proud of what they do and feel valued as individuals
Now you have enough insight into what millennials want to hire the high-achievers you need to grow your business long into the future. If you do need more advice from a recruitment specialist, we’d love to help.