For some years, it has been observed that employees would stay in a job for a maximum of 1 or 2 years, and then switch jobs.
The first thought that came to employers was that they were probably hiring the wrong people.
However, further studies revealed that these employees were millennial workers and they expected something else from their jobs. They wished to work differently, and did not want to wait in a particular job, hoping that the work culture will change.
At present, millennials are the single largest group dominating the workforce. One can say that they are over-educated, but under-employed or underpaid, with a lot of aspirations and expectations from the world. Most of them wish to make a difference in the world, and work for a company that not only caters to profit-making, but focuses on personal development too.
Millennials also expect a flexible and collaborative work environment and timings, giving them ample time to concentrate on their personal life too. A company that can accommodate all these needs automatically gets access to a large pool of talent and resource for their organisation.
According to Forbes, 74% of non-millennials agree that millennials bring valuable new skills to the workplace, including technological skills.
So how do you attract and retain millennials on your workforce?
1. Go digital
Almost half of the millennial population look at their smartphone more than 50 times in a day.
The world is getting digital and digitalization is the way of life, especially for the millennials. Be it planning a trip or a simple dinner with friends, every event of their lives includes the use of a smartphone.
Hence, it’s quite obvious that they would use the same when looking for a job.
More than 60% of the millennial workforce uses a mobile app for searching and applying for prospective jobs. So, if an organisation wants to attract millennials, it needs to go where they are, i.e. into the digital field.
Interviewfox.com gives employers the opportunity to connect with and hire millennials through an android mobile job app for job seekers. Candidates can choose a job of their preference, upload their resume and record a 2 minute audio profile, and attend pre-screening interviews, all through the app. The app also facilitates real time interaction between employers and job seekers through chat, email and direct calls.
2. Feedback is integral
“Learners need endless feedback more than they need endless teaching.”
Today’s generation values open communication, and appreciates encouragement and feedback from the organization they are working for. When you give feedback to employees, you are giving them a chance to grow, better and faster.
Do not wait for the meeting held once or twice a year for giving your employees the required feedback.
Millennials need to be told constantly how they are doing at work; regular evaluation is very important for them.
Another important thing that you need to keep in mind is that feedback should be from both sides. Just like you, as an employer provide feedback to your employee, it is necessary to for you to take feedback from your employees too. This not only creates a good relationship with them, but helps in the growth of the company too.
3. Let go of rigid timings
Today’s millennials, were at some point, children who may have probably seen family dinners or holiday plans being cancelled because one of their parents got caught up in work or couldn’t make it to a celebration due to rigid work timings.
Therefore, work-life balance has become all the more important for today’s generation. They are most likely to change and shift to other jobs if they feel that their work timings are proving to be a disturbance in their personal life.
The solution here, would be to get rid of the strict 10-7 work timings, and instead be more flexible in this matter. Companies nowadays encourage employees to individualize their work schedules, as much as possible, for their benefit. Options like work from home have been gladly accepted by the young generation.
Apart from these, a laughter session in between the work hours or maybe a yoga class once a week can further help you to retain your workers in the company.
4. Fun at work
You have to be sincere when you are at work, but not necessarily serious.
If there is a option between an organisation with more money but no positive social atmosphere, and another one with a lesser pay but great work culture, a larger percentage of the millennials would prefer the latter.
Young employees do not mind being given challenging work, but an enjoyable and fun culture is what they would love to have. A fresher, for instance will be highly motivated and brimming with energy when joining a company. As an employer, one has to show that his/her organisation is capable of adapting to all the things that a fresher will bring along.
Just like an open mind, an open working space promotes open flow of communication. Having fun at work not only keeps employees happy, but this interaction often leads to the birth of new ideas that can help the company in ways more than one.
A strict and unapproachable management, with poor working conditions, will definitely create stress among the employees, affect the quality of work and workers are bound to leave you at some point or the other.
Small perks and benefits can help you bring an inherent motivation among the workforce and increase their productivity, while establishing a good relationship between the company and its workers.
Things like a free lunch, or maybe a nap room can actually help you retain millennials in your company. Or maybe a day in the week when employees can bring their pet to the workforce.Rewards like ‘employee of the month’ can also help in retaining your employees. After all, a token of appreciation is something that everyone loves.
Pay and Career Development
Pay and Career Development
When it comes to salary, millennials are just like every other professional - they want to be paid as much as their worth.
“If you pay peanuts, you get monkeys.” - James Goldsmith
One of the best ways to attract the brightest millennials and retain them is to pay them well. Underpaid employees are sure not to stick around a job for long. Be it a millennial or anyone else, everyone hopes and works for a bright future. If a millennial is starting their career in your company, you have to assure them there will be a growth in the career from where they are starting, eventually.
You need to display the values and opportunities that your company has to offer, if you want to attract a candidate as a potential employee. Every candidate would want to know what they can expect from an organisation.
Millennials are considered to be more loyal when it comes to the company where they are working. The only thing that you, as an employer, have to keep in mind is that you cater to the needs of this generation. Register on interviewfox and sign up for a free 14 day trial. Choose from a large pool of candidates and hire the one best suited for the job!