The so called millennial generation (those born between 1985 and 2004) have achieved a near mythical status in public life. They’ve had every imagineable label attached to them, from lazy and entitled, to entrepreneurial and purpose driven. So what’s the truth?
Millennials are just like any other generation. Some are talented, driven go getters, some are not. There are however, a few new traits and preferences the millennial cohort bring to the table. With millennials set to make up 35% of the workforce by 2020, here’s what you need to know when hiring millennials.
MILLENNIALS ARE HUMANS TOO!
Always keep this front of mind when hiring millennials, they’re humans too! Treating anybody as some form of bizarre and seperate new species simply won’t work. Whilst they be young and have fresh ideas, they key human drivers of trust, support and purpose remain.
It’s also not wise to try and fake company culture to impress a younger workforce. If you’re in a traditional and conservative industry, filling your office with bean bags and slides to try and be just a little more like google will come across as fake. Inauthentic behaviour will do little to impress under 35s.
THEY’RE HUNGRY TO LEARN
The millennial generation have come of age in the period of greatest technological change ever witnessed by the human race. Many were born at a time when home PCs were a rarity and only the most forward of thinkers had a mobile phone. Fast forward 30 short years and the average person in the UK now spends almost two hours a day glued to their phone.
There’s a very good chance that many millennials will end up working in a role which is yet to be created. It’s hardly surprising then, that 83% actively seek opportunities in which they can gain new skills in the workplace. When hiring, be sure to emphasise the opportunities your new hires will have to upskill and keep pace with a rapidly changing world.
PURPOSE OVER PROFIT
A 2018 Deloitte study found that millennials are far more interested in companies that improve society, innovate and enhance livelihoods then ones that just seek profit. Today’s wall to wall news coverage and increased global awareness has created a generation with an eye on the bigger picture.
This isn’t to say that millennials are simply a bunch of idealistic dreamers. They clearly understand the needs of business to generate profit, however they have a desire to improve their world in the process. Clearly communicating your company’s values and mission is a must when recruiting millennials.
MILLENNIALS LIKE FEEDBACK
We’ve seen that millennials want to learn, but they also want your help in doing so. In an age of online reviews and comments social media posts, it’s no wonder that millennial workers crave feedback.
According to forbes, 72% of millennials who receive feedback on a consistent basis feel satisfied at work. In contrast, only 38% of those who lack feedback feel satisfied. Ditch the annual review for a system of continuous feedback and learning.
Feedback is important in the hiring process too. 43% say that receiving a prompt follow up after interviews was important to a positive interview experience.
TODAY’S CAREER PATH IS VERY DIFFERENT
The days when you would be presented with a gold watch or a carriage clock at retirement after 35 years of service are long gone. With those in their 20s now expected to wait until they’re 70 before claiming a state pension, it’s unsurprising that millennials are seeking different career paths. Millennials are more likely than any other generation to move between organisations in search of greener pastures. A 2014 Bayt study found that 46% of those under 35 expect to move companies in the next two years.
So how do you hold onto the best millennial talent you’ve worked so hard to attract? There’s no guarantee, but if you follow the guidelines above you’re in with a chance. Take a look at this excellent guide on hiring and retaining millennials by Robert Walters for more information.
As always, I’m here to help. If you need any advice on hiring, or want to make use of over a decades recruiting experience, feel free to reach out at any time.
Neil