What is the most important way to increase both the number of potential job candidates and your employee retention rate? The answer is simple: Find out what people are looking for in a job—and offer it to them. Of course, the hourly wage or salary is important. But keep in mind that for millennials in the workforce, there are many other factors that matter just as much when it comes to taking a job–or leaving one. No matter how great your company is or how persuasive your recruiters are, if your employees and potential new employees aren’t happy with what you are offering them, they are likely to leave or not even take the job in the first place.
So how do you make your organization and individual roles attractive for both new applicants and current millennial employees? Follow these six steps and you’ll be well on your way:
Understanding the variety of attributes that define millennials is crucial for positioning your company and job responsibilities.
To help you in getting started, here are some data points from a study we conducted with The Ladders, in addition to other research available in the market:
Both personal and career growth are essential for millennials in the workforce. In fact, the opportunity for career growth is the most important factor for them when choosing a job. And they aren’t willing to wait very long. 80% say they want a promotion within the first two years.
To address their desire for growth, make sure your managers are open to coaching them with clear and frequent feedback. When they do something well, they want to have it pointed out. When they do something poorly, they want that to be pointed out as well, along with instruction on how to do it better.
Millennials in the workforce have a strong desire to be highly engaged by what they do. Allowing them to create and run their own committees, task forces, and/or teams to improve the workplace allows them to harness their sense of mission. Without creating a sense of personal engagement, you risk losing these valuable employees to more purpose-driven companies.
Here are additional ways that millennials in the workforce seek to engage:
Integrating environmental programs and philanthropy into your work environment can help set you apart from your competitors – both for potential new employees and for Millennial customers.
Employees today aren’t happy to merely log in eight hours behind a desk doing the minimum amount of work required until they can clock out. The job benefits and perks that millennials care most about are those that provide them with greater flexibility, autonomy, and the ability to lead a better life overall. In order to attract millennials, be sure to communicate the benefits that come with your company, and also continue to remind existing employees of these important perks.
Even after following these tips, it may be worth evaluating how your millennial employees feel. For personalized feedback, use an employee engagement survey. You can include a question that asks for the employee’s age, and then easily filter the responses to see how millennials responded to the other questions.
Looking to hear from millennials in the workforce who are outside of your company? SurveyMonkey Audience lets you survey millennials across industries, locations, and backgrounds to better understand their demands and align your organizational resources appropriately.