4 ways companies can attract and retain young workers
3 Min Read
Millennials now make up the largest share of the workforce. The group, comprised of 18-34 year olds, claimed the title just last year when the working population of this age group hit 53.5 million.1
Recruiting young professionals requires a different approach and a new set of skills from human resource professionals. Here are four ways companies can appeal to young workers and retain them in the working world:
Create a thriving corporate culture
Millennials aren’t looking to clock into a stuffy corporate office for the day, type away inside their cubicle, and then go home. They want to be part of a community.2 Most young professionals find community atmosphere at companies that create a unique corporate culture.
Google, for example, has a culture that’s enhanced through employee cafes, nontraditional workspace, team scavenger hunts, and group getaways. These unconventional ideas stimulate productive relationships and create an environment that millennials not only want to work in, but seek out.
Employee benefits
Employee benefits may not be as flashy as Google’s corporate culture, but they are one of the many things that young professionals are seeking.
Research indicates raises and bonuses top the list of recruitment tools for millennials. Vacation and sick time are important, too, but an even bigger lure for young workers is flexible work time. Millennials want to work from home, design their own 40-hour workweek, or have the ability to purchase additional time off. 3
Millennial motivation is also driven by health-care and retirement packages. Young professionals are well aware of the rising cost of health care, and want competitive options for both health and retirement packages.
Mentorship
The idea of a work mentor isn’t new but the millennial crowd puts a new spin on it. Typically, the mentor, who is much older than the person being mentored, is the teacher. It’s a one-way relationship but that’s not the ideal team for millennials.
Millennials believe a mentor relationship is a two-way street. Both parties learn from each other. Young professionals welcome feedback from mentors and will provide feedback to their mentor as well.4
Use unconventional recruitment tools
Newspaper ads and referrals aren’t going to drum up a millennial workforce. Companies should turn to more modern recruitment tools.
For example, millennials are mobile. Research shows 47 percent rely solely on their smartphone to search for jobs,5 and 62 percent look for opportunities on social sites.6
In additional to a strong digital presence, businesses should participate in college job fairs, create relationships with college career centers, and seek out talented professionals on LinkedIn.
Effective recruitment is just one of the many versatile skills that students obtain through the Master of Science in Human Resources Management program at The University of Scranton. To learn more, visit the website.
Sources
- Pew Research. Millennials Surpass Gen Xers as Largest Generation in US Workforce. https://www.pewresearch.org/fact-tank/2018/04/11/millennials-largest-generation-us-labor-force/
- NY Times Magazine. What Google Learned From its Quest to Create the Perfect Team. https://www.nytimes.com/2016/02/28/magazine/what-google-learned-from-its-quest-to-build-the-perfect-team.html
- Paychex. Which Benefits Help You Recruit and Retain the Best Employees? https://www.paychex.com/articles/hcm/benefits-help-recruit-and-retain-best-employees
- Forbes. The Modern Mentor in a Millennial Workplace. https://www.forbes.com/sites/karlmoore/2014/09/11/the-modern-mentor-in-a-millennial-workplace/#1faedaf35c78
- Recruiting Daily. Wild & Crazy Kids: Millennial Hiring Trends Every Employer Needs To Know. http://recruitingdaily.com/wild-crazy-kids-millennial-hiring-trends-every-employer-needs-to-know/
- LinkedIn. Don’t Knock Millennials Until You Try Their Recruiting Ideas. https://www.linkedin.com/business/talent/blog/talent-acquisition/dont-knock-millennials-until-you-try-their-recruiting-ideas?u=0