As Millennials continue to make up the largest share of the U.S. workforce, we are increasingly hearing from hiring managers who are concerned about millennial work trends and keeping them on board.
Last year, the median job duration for workers aged 20 to 24 was shorter than 16 months. For those aged 25 to 34, it was three years, according to the Bureau of Labor Statistics, still far short of the 5.5-year median duration for all workers aged 25 or older.
With this, many managers are struggling with the fact that fresh talent isn’t staying put in one job for long. But employers who view this trend as an opportunity are embracing Millennial’s significant contributions to the success of their organization.
The Benefits of Millennial Hires
With Millennials expected to make up 75% of the global workforce by 2025, it’s in your company’s best interest to utilize their strengths which include:
Raising a Hand
They aren’t afraid to raise a hand to take on more responsibility. Raise a hand and ask how to help. Raise a hand and share ideas.
They are continually available and checking email well outside of office hours. Many millennials have digital and social media experiences that can help organizations build strong relationships online. Using their insight can help connect online in new and unexpected ways.
They won’t just do their jobs mindlessly; they’re driven and deeply invested in the work they do. They will give you their all in order to prove that they are capable. Personal development is the most important factor in their careers – they want to learn, and they want to grow.
Team Player
Collaboration comes easy to this generation. Whether they need to lead the team or just contribute, they’ll have the skills they need.
Social Investing
They have a greater awareness and concern about what is going on in the world. Helping to shape corporate responsibility programs to move beyond charity and towards entrepreneurial models that benefit society.
Attracting and Retaining Millennials
Millennials have different takes on life, different motivations and vastly different expectations of the world compared to the generations before them. Businesses that want to remain successful would be wise to keep up with the times and find new ways to appeal to this growing workforce.
Company Culture
If you have a great place to work then show it, let them see it, live your product and corporate values. They have a strong sense of both local and global community. To that end, company culture and collaboration is important to a young, talented millennial. Many new employees expect companies to have both work and social spaces—that might include perks like gyms, cafeterias, or similar perks to strengthen the community atmosphere.
One particularly important job aspect for millennials is technology. As the most technologically literate generation, millennials find it important that employers keep them connected. One way to appeal to millennial talent, therefore, is to highlight the prevalence of technology in the business.
Educate and Develop
They desire ongoing training for personal and professional improvement. Show then that you care about their professional development. The best way to engage with them is by offering experiences that can help make a difference like conferences or continued learning. Take a genuine and authentic interest in their lives.
Reward Results
They thrive off of incentives, recognition and rewards. Millennials seek employment where their ideas are considered and appreciated. Adapt a review model so that feedback is communicated often and more openly.
Tour of Duty
Knowing it is a fluid marketplace for millennials an approach of being honest about their potential role can be done by a “Tour of Duty”. The employee and manager agree on specific goals to be met during a specified time period. At the end of the tour, both parties understand that the employee might leave – but doesn’t have to. Considering your company a career accelerator or launchpad will attract a stream of ambitious young candidates.
It’s true that Millennials are driving change in the workforce landscape, but they’re well worth the additional engagement and effort from your company. With open minds and alternate views of success, millennials just may make the difference between whether your company flourishes or stands idly by.
Leverage the ETS candidate pool and let us help you identify top millennial talent. Call ETS today at 518-562-4673 to tap into the technical skill, collaborative tendencies and entrepreneurial mindset of millennials to drive your business forward.