posted on 13 February 2017
from Challenger Gray and Christmas
For the nation’s employers attempting to woo talent in the face of a tightening labor market, millennials most likely figure prominently in recruitment plans. However, companies that rely on the same old heart-shaped box of chocolate to attract talent could find themselves falling short, especially when it comes to reeling in young talent, according to one employment authority.
Said Andrew Challenger, vice president of global outplacement and executive coaching consultancy Challenger, Gray & Christmas, Inc.:
Companies are going to have to work for the attention of the most talented millennials. This cohort has struggled to find footing in the workplace, often stereotyped as notorious job-hoppers with fragile egos needing constant validation.
However, this characterization is due in part to the generation’s dismissal of traditional compensation packages. Surveys have shown that millennials want to be engaged, value mentorship and good management, want opportunities to take on more meaningful work, and want their work to be enriching and rewarding in a way that transcends the simple pursuit of money. Said Challenger:
According to a recent Gallup poll, 87 percent of millennials report job development and career growth is very important, however, only 29 percent feel that they are engaged at work. Sixty-two percent plan to stay with their jobs if they feel they can socialize with their manager.
Millennials also report the desire for work-life balance that goes beyond the 20-minutes of breakroom table tennis or 30 minute nap in Google’s sleep pod. They want the time and support to explore extracurricular activities that align with their personal beliefs and goals. Challenger concludes:
Challenger offered tips on how to make millennial workers fall in love with their jobs:
Your Mission Matters - What your company does and its impact on society make a difference to millennials. Not every employer has to have an angelic mission, but companies with products or services that are deemed harmful to the environment, people, or society are likely to have a more difficult time recruiting from the larger pool of millennials.
Collaboration is Key - Millennials want a seat at the table and to know their opinions are heard and considered. Offer mentors to millennial talent to help develop an open line of communication. Schedule regular performance reviews and listen to feedback to measure engagement and decide if the work is the best fit.
Give Clear Opportunities to Advance - If you want to retain millennial workers, they will need to know they have the prospect to take on more responsibility. A mentor can also help to guide career development in this respect.
Cultivate a Positive Corporate Culture - In addition to your mission, a positive workplace that fosters community, encourages exploration of hobbies and interests outside of work, and offers opportunities to give back will attract millennial talent.
Find the Right Balance - Work-life balance has been a must-have in any company’s recruitment toolkit for years, and it’s especially true to attract millennials. Flexible work schedules, telecommuting, and remote work opportunities will go far in recruitment efforts.
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