Three Ways to Attract and Retain Millennials
Updated: Feb 22
Many would agree that 2020 is unforgettable because of the global pandemic we all have endured, but many of us in the HR field take notice of this important year because in 2020, millennials made up 50% of the workforce in North America. In just 5 short years, they are predicted to occupy 75% of the labor market. As many experts have noted, Millennials have a different expectation of the workplace than their predecessors, Gen X an Y and have been the subject of many studies and reports. The article below speaks to three ways to attract and retain millennials for your organization.
Here are THREE tips on how to attract and retain millennials:
Utilize Digital Technology
It is imperative that your company utilizes technology in a way they may not have done before. Technology is crucial during the recruitment process. Millennials want to see your company culture displayed on social media before they even consider applying for your positions.
Once at the company, you should ensure that your technology is part of the everyday functions of your office. Your website should be mobile-friendly, and most communication should come via different forms of technology.
This includes meetings. While most are currently held via zoom or another online video platform, when you are back in the office you should be keeping these forms of communication in mind. Millennials do not respond to powerpoint presentations as well as they do to videos and engaging animations.
Enhance Workplace Environment
One of the reasons that millennials are leaving is because they do not feel like their work makes a positive social impact. They want to see that their company is making a difference. Employers should emphasize how their company gives back and makes a positive contribution to society.
Every survey has one thing in common: flexibility. The pandemic has definitely heightened the need for a flexible work environment and studies show that this demand will not be going away even as the vaccine comes. Millennials express wanting flexible working environments which could include optional work from home days, more personal time, and even longer weekends. They feel like the emphasis should not be put on ‘time spent in the office’, but rather the output. Currently three-fourths of companies are offering employees flexible work environments and plan to continue this even after the pandemic is solved.
Company culture is the second most requested change from millennials. There are several aspects to this, the number one being mental health and stress services. According to an article from LinkedIn, 80% of companies are offering virtual mental health services. Paired with this, a Deloitte Global Millennial Survey (2020) found that 48% of millennials report being stressed all or most of the time.
Many want to be able to make a connection with their team members and not just at happy hour. A study conducted found that 74% of millennials prefer to work in groups and collaborate with team members on projects. It is found that millennials feel more valued and feel a more positive connection with their work environment when encouraged to share ideas and complete team oriented projects.
Invest In The Workplace
Another important factor to millennials is growth and experiences. Millennials are not looking to be in the same position for more than five years. They are expecting employers to invest in the workplace and provide opportunities for development and career changes. Be sure to lay out the short and long term goals an employee can expect when they come to work at your company.
Offering different learning experiences is essential. Employers who let their employees from different departments pitch in on a project or participate in a client meeting are going to retain more employees who feel as though they can progress within the company.
Provide virtual learning opportunities that are either run and developed in house or through a third party. In addition, providing coaching or mentorship to your employees. Millennials require constant feedback. They want to know how to improve and grow and they want to know they are doing something well. The workforce has changed and will continue changing. Employers need to work on how they engage with their employees and look at what they can offer them outside of a pay-check.
As HR professionals, we are here to help small businesses understand the expectations that this new generation has so that they can accommodate and support a mutually beneficial workplace for their employees. Let us know if you need support in finding new talents, we would be happy to share further tips on how you can attract the best of the best people to join your team!