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5 Ways To Attract & Retain Millennials


Millennials In the Workplace

Corporations are finding it challenging to attract and retain top talent in the long term with younger staff regarding work as a means to live – while their ‘baby boomer’ parents and grandparents were more inclined to put work above all else, this has been rejected by millennials.

The job-hopping statistic of millennials is enough to give employers a reason to question their reliability. Forbes stated that 60% of millennials are currently open to a new work opportunity and are by far the most likely generation to switch jobs. In 2016, 21% of millennials reported switching jobs in a year, against Gen X’s. Gallup says millennial job-hopping is costing US economy $30 billion a year.

Since 2016, the average age employee from the top tech companies were 27 to 39, which makes the majority of the workforce millennials, and it is the tech companies who are making the biggest changes to their workplaces and an active effort to develop their culture – changes that other organisations must also begin to implement. 


 

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Attracting Talent

Employee benefits like free food and gym memberships are a great addition, and bonus to any job, but organisations that only take these steps to attract talent isn’t enough, and keeping staff longterm remains an uphill struggle.

The younger generation demands a different lifestyle and to be appreciated on a deeper level, above handing out hollow perks. Corporations now have a responsibly to understand their potential employees and learn how to create intrinsic value and culture.

Work-life balance

Work-life balance has become paramount to their long term employment, and only by making employee experience of greater importance in the workplace, it is a way to make employees stay longer.

In 2017 a study, cumulative of thousands of employees, found that a majority of millennials ranked work-life balance just as highly as career progression. And the older millennials, aged 30-35, ranked work-life balance as more important, preferring more free time to do what they like work.

Autonomous working

Excellent employees can work autonomously. Organisations thrive with positive results when employees can self govern, and not micromanaging their everyday schedule.

Entrepreneur mentions that organisations that encourage this considers results to be more important, with less concern how they are achieved. Consequently, those workers who are then free to make their own choices are happier and less likely to leave.

Flexible Work Policies

Maximising employee longevity can be improved by implementing more flexible work policies. Flexible arrangements, like home-working, illustrates that organisations recognise that advancements in technology supports high productivity, in and out of the office.

Technology is more interconnected than ever, and this luxury has allowed us to work more remotely, and extend our work environment to our home. Many companies are having to adapt to the rise in popularity of remote working.

Use Employees’ Skillsets

Fast Company highlighted that ‘nearly three out of five (56%) employees expressed that the opportunity to use their skills and abilities was a very important contributor to job satisfaction in the 2017 Society for Human Resource Management’s (SHRM) “Employee Job Satisfaction and Engagement” report.’

“Employees who feel a sense of purpose and who feel valued in their role will always give more. Research shows that focusing on what they can bring to the team fosters this sense of purpose more than focusing on what the organisation can do for them.”