Hiring and retaining millennials is a growing concern for companies across the country. Although they now comprise a majority of the work force, according to a Gallup poll, six in 10 millennials are currently open to exploring new job opportunities, So, why the unrest?
Part of the reason is the ability to search for a seemingly infinite number of jobs wherever, whenever. There are thousands of positions listed across dozens of job sites, so why would employees limit themselves to one career for the rest of their lives? Maybe the next place will pay more, is closed on weekends or has a ping-pong table, hot tub and chef in the office! The grass is always greener on the other side.
Some of the blame lies in the culture of instant gratification, but a majority of the issue stems from a disconnect between employer and employee. Many young workers would love to stay at a job long term, if only their companies did a couple of things differently. It’s important to remember that millennials are also the generation of statistics (think of the book and movie, “Moneyball”). They’ve been ranked, filed, sorted and divided into various statistics since they could walk.
Taking these four steps can help your company understand how to hire, develop and retain millennial employees.
Positive company culture
Millennials want to be pushed and challenged to do more. Creating a culture where employees feel welcome and encouraged to test their resolve from day one will entice new hires to not only join your team but also stay longer. You will be rewarded with a hardworking, long-term employee, who is invested in the company.
Show a millennial candidate that there is a genuine trust between employer and employee to accomplish a task without micromanagement. Create a monthly review (remember, they’ve been ranked since they could walk) to show progress and areas for improvement. Make sure employees have opportunities for input; the review should be a two-sided equation. When you involve millennials in the process and define their aspirations, you will create a stronger connection between the company and the work millennials are doing.
Career growth opportunities
“Winning over millennial talent has less to do with offering hip perks or remodeling the office than it does with showing millennials that they have a future at your organization where they can learn, grow, achieve and lead,” noted a recent Gallup article. Providing opportunities for career growth as well as personal development, plays a major role for millennials when deciding where to work and how long they are willing to stay with one company.
According to a recent Fortune article, “(Leading millennial) employers … focused on helping align the employee’s personal values and the organization’s work.”
Millennials want to believe their job is important on a grander scale. More than that, they want to see the impact their company has as well. Helping millennials identify a positive relationship between what your company does and their personal values is vital.
Whether your company hires a handful of millennials or dozens, implementing these ideas could be the difference between employees who stay for only a few months and those who enjoy productive, 20-year careers.