Gone are the days when competitive salaries and job tenure were enough for a company to retain its best talent. With the presence of Generation Y in the job market, professionals' priorities when choosing their jobs have changed. Therefore, it is essential to know the main Millennial Recruitment and Retention Strategies.
This generation has different beliefs than previous ones about how the work environment should work. With that in mind, we explain everything you need to know to motivate and engage your organization's millennials. Want to know more? Check it out below!
Who are the millennials?
Millennials are the generation of people borns between the early 1980s and the mid-1990s. Today, they make up the largest portion of the labor market, representing 35% of all professionals. By 2030, this number should reach 75%.
In this scenario, understanding the way these people think is fundamental for the future of companies. Only then will it be possible to create effective strategies for recruitment and millennial retention to build a competitive team.
Having grown up amid rapid technological advancement and with broad access to information, Generation Y has a sense of urgency bigger than the previous ones. Slow, bureaucratic processes are the easiest way to make a millennial unhappy.
THE thirst for innovation is another important point. If the world has evolved at an accelerated pace in recent times, the trend is that this will intensify even more in the coming years, due to the way millennials work. Check out more about these differentiators below.
What are the differentiators of millennials at work?
Millennials defy the logic of corporate veterans. With its increasing participation in the labor market, practices such as home office, flexible hours and collaborative management (without hierarchies) are becoming more and more common, something that would have been unthinkable 20 years ago.
Check below the main characteristics of these professionals in the work environment and see how to meet your needs.
1. Millennials value freedom
These professionals believe that they do not need to be at the office to perform their roles with excellence. Therefore, they look for opportunities to work at the times they feel most productive., either after lunch or in the middle of the night.
One way to meet this need is to offer the possibility of home office and flexible hours. This type of dynamic allows for several advantages in the routine, such as dedicating yourself to hobbies and being with family members at the most convenient times.
Another way to give employees more freedom is by offering payments on demand.
In this mechanic, the employee does not need to wait for the end of the month to have access to their salary, they can do withdrawals at any time, whenever you need. At the end of the day, the amount for the hours worked is already available for the person to withdraw, which contributes to the financial health and enables more autonomy in everyday life.
2. Millennials seek a purpose
Many senior executives complain that millennials are not very engaged in their work. But the real truth is that most companies don't use the right tactics to motivate these professionals.
As stated earlier, you need to be aware of how they conduct their careers. Unlike previous generations, millennials are not content to perform purely operational tasks from 8 am to 5 pm, without understanding the impacts of their work on the organization.
they want to know why are they working. They need to be aware of the company's values and understand the effects of their work on society. They are looking for a job that connects with their worldview and personal goals.
Paying special attention to these details is the key to success in recruiting and retaining millennials.
3. Millennials change jobs frequently
If in the past it was common for professionals to spend 30 or 40 years in the same company, today the reality is different. Millennials change jobs frequently, often going through more than 20 companies in his career.
For them, applying for new positions is the fastest way to grow in career. Therefore, they remain in a job for a few years or months, and are already starting to look for new opportunities.
The reasons are diverse: it could be for a highest salary, more benefits or challenges more compatible with your personal searches.
For a good recruitment and retention of millennials, try to hire professionals who are aligned with the organizational culture and dedicated to the work they do. It is also essential to offer opportunities for courses, training and, above all, participation in interesting projects,
Thus, employees will feel welcomed, valued and with real chances of growth in the organization.
4. Millennials seek to feel part of the team
Even when they are not in leadership positions, millennials are keen to know what decisions are being made and how they influence the company. They want to be informed and have the freedom to give their opinions and ideas. Thus, they feel that they are part of the team and that their presence is important..
Therefore, their managers must have honest conversations about the role they play in their daily lives, giving a clear and complete feedback whenever possible. This closer contact is a great opportunity to let them know what is happening in the company, showing how processes, projects and departments are interconnected.
5. Millennials value benefits
Millennials' thinking isn't just money-driven, but that doesn't mean they'll agree to work for less than they're worth. The point is that, for many of them, the relevance of benefits outweighs the importance of a high salary.
When plotting your strategy for recruiting and retaining millennials, try to include in the benefits package advantages that enable personal growth, such as a career plan and educational opportunities, such as agreements with educational institutions.
Promoting well-being and quality of life is also a great idea. Offer gym discounts, company-covered therapy sessions, and gym discounts to encourage them to exercise.
do a survey with employees to understand what benefits they would like to have, and try to meet the demands as much as possible. Being in a place that makes everyday life easier is often more attractive than just a competitive salary.
Now that you know how to recruit and retain millennials, it's time to put what you've learned into practice. Look closely at the employees of this generation, try to understand how they think and what their needs are. This way, you'll be able to keep your team productive and engaged for much longer!
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