Millennials in your organization
This post will elaborate on the "Millennials" or "Generation Y" as some might call them. This age group contains those who are born between 1980 and 2000 and, as such, this is group consists of the young talent in the current working place.
They are often referred to as the digital generation. Millennials have grown up with computers and know their way around computers quite well. They use the internet for everything that might capture their interests and use the internet as a comparison tool rather rationally. To this day they seem to be the least loyal employees. A mere 18% of them expects to be working for the same employer long term. Besides that, they don't seem particularly involved with their organisation, 71% of them states that they don't feel involved in their jobs. The numbers could however be this way because the Millennials entered the job market in harsh times. As such one could expect that they didn't find the right place right away, which would result in these negative numbers for them.
What do they find important?
Millennials seem to have a big craving for educational opportunities and opportunities for growth within an organization. They even find this to be more important than their pay. The urge to constantly improve oneself and reach the maximum of their capacities is something that characterises this generation. The Millennials seem self-assured and know what they want. They want a good work-life balance, so that they can perform optimally and find it frustrating when technology isn't optimally used. What they also value highly is that the goals and the values of the employer converge well with their own ethics and goals.
Ofcourse pay is still an important factor, even for Millennials. A lot of them still have debts to pay for their education, which they want to pay off as soon as possible. However, Millennials in general put less emphasis on pay in a job, especially when compared to opportunities for growth, education of flexibility within the job. In contrast to what many people think about Millennials, they don't seem to value opportunities for creativity and pleasure at work as much as other generations. If the work environment is stimulating and offers opportunities for growth, Millennials will derive their pleasure from this.
What also contributes to the pleasure Millennials derive from their jobs is ofcourse their colleagues. Millennials often haven't been in their current position a long time already and as such value being mentored by the more experienced employees highly. Their new insights and thoughts about the tasks can work in tandem with the ideas and the thoughts of more experienced employees quite well.
The Millennials themselves can learn a lot from the more experienced employees. They can also stimulate growth in the company with the new opportunites and insights they have to improve on the current processes. They can offer a fresh look into the current processes and can, after gaining enough experience, create new processes in the workingplace.
Ofcourse the recruiting and retaining of Millennials is in many ways similar to other generations. Everyone values good working conditions and everyone likes a good pay. It can, however, help in recruiting and retaining Millennials, or other generations if you know their most important motivators and what attracts them to a job. Are you looking for a young employee with a lot of motivation so that he can grow in your organization? Emphasize this in your vacancies instead of going on about the fantastic pay. Also describe the values and goals of the company and yourself as an employer in the interviewing process and the vanacy to prevent mismatches.
So, what do Millennials find important?
- Educational opportunities
- Opportunites for internal growth
- A good work-life balance (flexibility in job-place and - times)
- Convergence with the values and goals of the company and employer
If you want to recruit and retain the best Millennials you should, above all, offer opportunities for growth. This could be either within the company (promotions) or personal growth (trainings or courses). Millennials also value a good work-life balance and like flexibility in their jobs. They want to really add something to your organization. They want to know why their position exists and what they will contribute to the organization by achieving their position's goals. A good convergence of values and goals between the employer and the Millennials is also something important. Pay is ofcourse still important, but clearly less so than the previously mentioned job facets.
Career Result has been there since 2000. We, as a recruitment organization, have grown up alongside this generation. When our business started in 2000, the first Millennials were about 20 years of age and some of them entered the job market at that time. We would like to share our knowledge and experiences with this age group, as well as other with you. Millennials are currently the most represented age group in the labor market. Knowing how to attract and retain the best of them can mean a lot to your business. We as Career Result can help and support in this.
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