If you have not yet hired Millennials, those with birth dates from the early 1980?s to the early 2000?s (there are no exact dates that are agreed upon), you will no doubt be hiring many of them in the coming years.? The Millennials, also known as the?Millennial Generation, Generation Y, or Echo Boomers, is the biggest in U. S. history at 86 million strong.
So, what?s so different about Millennials?? In a word – everything!? Millennials have grown up in a world of rapid change, giving them completely different expectations than any previous generation.? They are delaying marriage, children and major purchases.? Millennials are technology savvy, adapt well to change, and are tired of being called ?lazy.? ?They look for products that provide maximum convenience at the lowest cost, use social media to stay in touch and also to make buying decisions.? Millennials are dedicated to wellness and healthy eating.? Millennials also have very different expectations in the workplace than previous generations. ?Understanding those expectations can be the difference between a happy and a disgruntled employee.
Bruce Tulgan, consultant and author of It?s Okay to Manage Your Boss says, ?They will be the most high maintenance workforce in the history of the world, but they may also be the most high performing.?
In 2015, one-third of the workers are Millennials and by 2025, it is expected to make up 75% of the workforce.? Businesses need to take a serious look at adapting their business to the expectations of these up and coming employees. The 100 Best Workplaces for Millennials have many of these 8 things in common, which may be the roadmap for hiring and retaining this technology generation.
- Collaborative Workplace. The?2014 Qualtrics Millennials in Tech Survey found that the thing Millennials care most about when it comes to organizational culture is having a collaborative work environment.? With 74% of Millennials ranking a collaborative work environment as the first or second most important characteristic they look for in the workplace, companies with this culture will attract the best and brightest.
- Flexibility. Millennials want flexibility at work, with many of them saying they would take less pay to have flexibility in their job. A flexible schedule and telecommuting are highly regarded by these workers.
- Work/Life Balance. Family, friends and hobbies are very important to this generation. Millennials want paid sabbaticals. With Netflix recently announcing up to a YEAR of PAID leave for both parents when a new baby arrives or is adopted, this is bound to send ripples through other organizations seeking their talent.
- Autonomy. It is important to recognize the talents of this generation and give them the autonomy to play a significant role.? With over 46 of the worlds? wealthiest people being under 40, and many of technology?s smartest being under 30, Millennials believe they have the ability to make a true difference in the workplace and seek those opportunities.
- Recognition. This generation wants pay, profit sharing, and promotion decisions to be executed fairly, and believe everyone should get a shot at special recognition.
- Open Communication. Millennials expect to have a say in decisions that affect them. They seek companies that exhibit strong, open, two-way communication.
- Corporate Social Responsibility. Millennials support causes not organizations.? They want to make a difference and want a corporation that goes beyond writing a check or attaching a logo to its product. Millennials want companies that engage their employees to commit to initiatives.
- Perks. Yes, Millennials like perks in the workplace.? These may be everything from pampering perks such as chair massages and sporting event tickets, to community perks like paid memberships and organized volunteer efforts.? They also crave lifestyle perks like wellness programs, casual dress; and convenience perks like laundry pick up, cell phone stipend or travel discounts.? Culture perks may be the most important of all and may include a fun work environment, access to executives, mentorships, and freedom to share opinions, to name a few.
Although finding the right employees going forward may be more challenging than in the past, understanding Millennials, and adapting to their specific needs will go a long way towards hiring and retaining great talent.
About Adria & Regal Personnel
Adria Pearl, is the President of Regal Personnel, a woman-owned business servicing the Dallas/Ft. Worth Metroplex since 1980.? Adria works closely with companies and candidates to make the perfect match based on the specific needs and culture of each company.? She is passionate about working with young Millennial graduates. You can reach Adria at email@example.com or 972.788.0355