Millennials are defined as the cohort born in the 1980’s through the mid-1990’s. In the U.S. it is estimated that this group is now the most significant generation, with approximately 75.4 million people. That is a vast number of potential employees that businesses need to understand to attract and retain millennial talent.
While current professionals favor higher pay and benefits over working in a field they are passionate about, millennials feel quite the opposite. In fact, they are searching for jobs that have significant meaning and purpose rather than a more substantial salary. It is essential to keep this in mind from the get-go when recruiting millennial candidates. That is not to say millennials look for positions that will not offer excellent salaries and benefits. It is rather a matter of placing emphasis on a company’s mission and vision statements, and how the candidate’s wish to find a purposeful and value-based position will fit with the company’s goals as well.
They want to know why the company is an asset to the world, not just a ‘money making’ establishment. Let a prospective millennial employee know that fulfilling work can be realized and aligned with the company’s bigger picture goals too. A millennial wants to know the company will help them realize their potential; this is seen as a great asset to the prospective employee.
When a company initially posts a job, it’s a good idea to adjust the advertising to accommodate the fulfilling, and purpose-driven work millennials are searching for a new position. For example, include extra details about the company’s values and culture, not merely a list of job duties and skill requirements.
Attracting a top-rated millennial candidate to a business means they want to know if the organization’s culture fits with who they are. Posting pictures of employee events, for example, will let the millennial understand what the company is all about. Showing photos of the bi-monthly fun night where they book a comedian for the employees can say a lot about a company’s culture; the millennial sees this as a fun and thoughtful place to work.
Another selling point a company can offer is training programs for employment growth and development. A prospective millennial candidate will view this as the company wishing to invest in the employee’s future, thereby making this an enticing selling point. If a company is willing to spend on the employee, then the employee is more likely to want to invest in the company.
Millennials have learned some valuable lessons from their parent’s generation. With so much emphasis placed on acquiring possessions, millennials see this as working too hard for material goods and not enough time to enjoy life. Businesses need to show a top millennial candidate that it offers excellent work-life balance. Millennials put a lot of value on balancing their work time with their personal and family life. Businesses will have to provide this balance if they wish to attract the best possible millennial candidates.