By the year 2025, Brookings Data Now estimates that millennials will make up roughly 75% of the U.S. labor force.
There’s a clear changing of the guard!
If your company’s workforce isn’t already predominantly millennial, it’s only a matter of time before it is . . . And if you’re an executive who is hesitant to embrace millennials, you’re currently at a major disadvantage when it comes to acquiring the best available talent.
So, how do you go about attracting millennials to your company? Let us help! We love millennials and we know what they’re looking for in potential employers. Make your company a destination spot for them!
A Strong Culture
“Culture is simply a shared way of doing something with a passion.” – Brian Chesky (CEO Airbnb)
Millennials know what they want. Likewise, it’s important for your company to know what it wants and what it is.
This begins with setting core values and goals and making sure they’re echoed throughout your organization. If your company supports a particular cause, see that it’s emphasized and that there are opportunities for employees to get involved.
A Fun Environment
“Being a great place to work is the difference between being a good company and a great company.” – Brian Kristofek (CEO Upshot)
Millennials want work to be fun! So, why can’t it be? In a survey completed by Ring Central in 2014, 78% of millennials stated that a company’s work environment affects their decisions to stay at a job. This comes back to culture. What kind of workplace have you built for your employees? Is it an environment where people are silently working away in their cramped cubicles until 5pm finally rolls around? Or is it a place where people can interact with others, collaborate, and feel like they’re working towards something exciting?
When the work is fun, you’ll find that your employees perform better, boost company morale, and enhance your already-strong culture. You’ll also see your retention rate improve drastically.
A Sense of Transparency
“Power is gained by sharing knowledge, not hoarding it.” -Unknown
In a 2014 study from IBM, millennials cited the top three attributes of a perfect boss as “ethical and fair,” “transparent and readily shares information,” and “dependable and consistent.” The millennial generation values honesty. No fronts, no facades.
Be a company that fosters transparency at every level of the organization – a company that allows its employees’ voices to be heard. Create bridges of communication between the different tiers of the corporate hierarchy. Better yet, make your employees feel like they can approach anyone to ask for advice or present an idea.
Not only does this create harmony, but it also benefits both employee and employer. The employee will feel invested in the company and its endeavors, while the employer will reap the benefit of new innovative methods and ideas.
A Work-Life Balance
“Most people chase success at work, thinking that will make them happy. The truth is that happiness at work will make you successful.” -Alexander Kjerulf (Chief Happiness Officer of Woohoo inc)
People from every generation have expressed the desire for a good work-life balance.
The only difference is that, for previous generations, it was a perk. For millennials, it’s a necessity.
An employer might assume that greater flexibility would lead to a drop off in production but that isn’t the case. According to a survey commissioned by Bentley University, 89% of millennials regularly check their work emails after work hours.
Millennials don’t want to stop working altogether – they just want flexibility, and their reasons are legitimate. Some want the option of working during the evening when they feel as though they’re at their best.
If you follow our advice and begin to tailor your organization to create an ideal work environment, there’s no reason you can’t add some of the best available millennial talents.