Furloughs. Hiring freezes. Layoffs. Since March 2020, the coronavirus pandemic has had a major impact on the economy. Glassdoor reports that between March 9 and April 6, 2020 U.S. job…
Over the course of the past three years the staffing industry has seen the most abundant group of candidates change drastically from Baby Boomers to the Millennials. With this change, as many of you know already from interacting with a millennial, comes the need to alter current recruitment and retention strategies. There is no question that this new group of individuals, whom are slowly stepping into roles around the globe, value career paths, job placements and work in general much differently than their predecessors. Here are but a few strategic examples that we at The Lee Group are seeing within our clients and they have been beginning to embrace to “get in” with this new generation.
1 – Start a young professional employee group.
1 in 4 Millennials are “asking for a chance” to show their leadership skills. Coca-Cola recently launched Coke Young Professionals. CYP, pronounced “sip” offers professional development, networking and social events geared towards the young professional. These groups provide fertile ground for new ideas and provide Millennials the chance to contribute and lead.
2 – Encourage Intrapreneurship and internal innovation.
78% of Millennials are strongly influenced by how innovative a company is when deciding if they want to work there. LinkedIn, for example, empowers employees each quarter to come up with a new idea, put a team together, and pitch their idea to the executives. If the idea is approved they are able to spend up to three months bringing it to reality. The idea of intrapreneurship, behaving like an entrepreneur while working within a large organization, resonates with Millennials.
3 – Communicate and track career progression and development.
The number one reason Millennials leave organizations is the lack of career opportunities. Millennials big career expectations – I’m going to be CEO in one year – are tied to unrealistic timelines because so many leaders and organizations lack the ability to communicate the steps involved to move Millennials from where they are to where they want to be.
4 – Create unexpected, one-of-a-kind experiences
78% of Millennials would choose to spend money on a desirable experience or event over buying something desirable. Outings or Company Field days have become a big hit. The games give teammates the opportunity to both physically and mentally challenge each other while building stronger relationships. The event includes a picnic and 15 different games including an obstacle course, dodgeball, human foosball, a giant game of Scrabble, and Dance Dance Revolution. Millennials value play and fun—the wackier, more off-the-wall, and unique the better.
5 – Support work/life balance and flexible schedules
45% of Millennials will choose workplace flexibility over pay. Rigor, an Atlanta-based start-up, won the 2014 Best Places to Work in Atlanta award with its “work from anywhere, anytime” and “take vacation whenever you want” policies. Rigor builds trust and solidifies Millennial loyalty with work flexibility. The 9 to 5 model is eroding thanks to the rise of technology and hyper – connectivity. Creative scheduling can unleash Millennial creativity.
6 – Integrate family at work
On average Millennials use three channels to stay in touch with parents including email, video calls, texting and social networks. Throw work parties that include family or consider what both Google and LinkedIn do and host a “Take You Parents To Work Day.” Family is one of the greatest influences for Millennials. Millennial loyalty will reign if you win over mom and dad.
Even as we see this level of change to embrace the new candidates out there, “teaching an old dog new tricks,” as they say, will not be an easy transition. I foresee a lot of butting of heads with those tenured individuals at companies against their new policies; however those that show the ability to adapt will see new faces around the office, with new perspectives on how to embrace the 21st century.
Chris Bresnahan is the Business Development Manager for The Lee Group, an Executive Search & Staffing Firm. He is instrumental in bringing top talent to new clients in all industries. To discuss how Chris can help your company Discover The Lee Group Difference, email him at email@example.com. Chris Bresnahan Linkedin