How to Attract and Retain Millennials in Today's Job Market?

How to Attract and Retain Millennials in Today’s Job Market?

The workforce has changed a lot in the last years and this is mainly due to the appearance of the millennials in the companies. The trends that have long been seen at companies have all almost disappeared, starting with the lifespan of employees at companies. Years ago, it was quite normal to see an employee stay at a company for 10 or 15 years, but the trend has come down to 2 or 3 years. Where years ago, this might have been seen as a negative in your resume, no it can actually be a virtue. But just analyzing this particular trend you can start to see how companies have to start evolving along with the workforce to be able to meet their needs and adapt to these changes. Companies are now on the lookout to attract young talent to ensure that they at least have a certain percent of employees that bring this new perspective to their organization. Human resources have had in their sights as one of their priorities attracting and retaining top talent, which you can read more about on the Jason Hanold WordPress blog, now even more so and with the specific millennial population. When your Human Resources team is ready to start attracting and retaining millennials, these are some tips to keep in mind.

Attracting new talent

Flexibility

Most millennials are interested in having much more flexibility in terms of location and schedules, as opposed to previous generations. The traditional 9 to 5 will most likely not be of interest to a millennial, so the company will need to consider alternatives. This will have to depend on the company culture, but more and more companies are allowing individualized schedules. This personalization does not limit itself to schedules, but also location with more of the workforce showing a higher interest in telecommuting.

Ongoing training

The workforce today is very interested in receiving training and professional development, so the more a company demonstrates to have a good ongoing training session, the more millennials will show interest in these organizations. Unlike previous generations, this new workforce generation is very much interested in disrupting their current knowledge and being lifelong learners. So as an organization, it is essential that Human Resource teams start to show an interest in developing a very good training program for employees at all levels.

Timely feedback

How to Attract and Retain Millennials in Today's Job Market?

Courtesy of Alan Levine at flickr.com

Millennials appreciate timely feedback so that they can improve on the go. Companies used to have a calendar setup to program their yearly reviews, but that doesn’t always fit real life. Projects and tasks at organizations don’t always line up with these review calendars, so this is why it’s so important to be more flexible and offer ongoing feedback that can be received when it’s truly needed. This also promotes a new corporate culture of setting short-term goals and having feedback based on these goals as opposed to long-term unrealistic yearly goals.

Give them a purpose

Of course, everyone knows that the bottom line of any company is to increase their revenue, but millennials care about so much more than this. Most millennials will agree that they need a sense of purpose, which means that when selecting candidates, it is vital to ensure that they are aligned with corporate values and culture. In many cases, it has been seen that millennials have refused to do a task because it went against their personal values.

What you have to offer

Companies are becoming very creative when it comes to offering perks to employees, including spaces to relax, tools that promote collaboration, and even having a strong support system. The more you accompany a millennial employee that more they are willing to stay the long term. This will all make it possible to create a close and family-type environment, that gives millennials a strong sense of belonging.

Retaining new talent

Overall by continuously updating and offering all of the above-mentioned strategies most millennials will want to stay at your organization. Most millennials are looking for opportunities to grow and learn more, so your organization has to offer spaces where they can reach these goals. Keeping them engaged will be important not only by offering continuous feedback and recognition. Creating a collaborative environment where you can have teams that are across generations and can build a truly engaging and innovative organization, that not only caters to the needs of millennials but offers other employees a place where they can grow professionally. Finally, it is important that as an organization you are competitive to create a work environment where people and specifically millennials can find a place to work that is appealing and fosters an environment that allows your company to grow.

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