With the workforce coming in with a higher number of millennial employees, companies now have to update their policies and culture to make themselves more attractive to this generation.
According to research, millennial employees are more likely to change jobs faster than others, and to bring in this new generation of people, companies need to have a good understanding of their needs and values.
Here are some techniques from Forbes to help retain and recruit this new workforce.
New values
Big paychecks and benefits may no longer be the most attractive points in a compensation package.
This young cohort is looking for more, such as a better working environment, flexible hours, a caring corporate culture, or even one with a more geared towards a sustainable future.
Millennials are looking for more value-added work in a company aligned to their values.
To attract them, highlight your company values and strategies that can contribute to the world in ways more than just wealth.
Be transparent
Don’t just advertise a position. Ethics and business motivations are also critical information for this young generation.
For companies, it is also essential to be authentic in giving them a clear idea of what it will be like to work for you. One sure way for a millennial to leave is to have mismatch expectations.
An example is to provide employee testimonies or set up potential hires with a current team member to better understand the daily work life and role.
Invest in their potential
Millennials are looking more than just a promotion. Instead of dangling a bigger reward, training is a valuable investment for them.
They look forward to training as being employable is an important factor for them.
They look out for new skills in other areas to gain broader knowledge and allow them to be agile in reaching out to different job roles.
Managers can work with the Training department to feedback courses the younger team members would like to have and provide for their education needs.
Though the millennial generation may be young, they can be a diverse bunch of minds. The best way to understand them is to talk to them simply.
Seek out digital channels to get regular feedback and show them how their inputs have made an impact in the company, and continue to create or improve an environment and culture where they will want to stay.
