Millennials often get a bad rap. Some say that they don’t understand the value of hard work while others feel that they are too dependent on social media and technology. The truth of the matter though is that millennials are the people that get stuff done. They are the new movers and shakers in the world of business and to dismiss their value and contribution to society does both them and other generations a great disservice.
Did you know that by the year 2020 millennials will make up over 50% of the workforce? And that by 2030 that will rise to 75%? And shockingly enough, the world will most likely continue to function as it always has. In fact, due to the innovative technology that the millennial generation is currently in the process of developing, it will probably work a hell of a lot better.
But what has all of this got to do with recruitment? 50% of the workforce in less than two years’ time, that’s what.
With such a huge portion of the candidates we see every day identifying themselves as millennials, it makes perfect sense to take the time to identify their needs and desires. If we are to hire and, most importantly, retain candidates from this generation, surely we should understand what makes them tick.
So here are a few things you should understand about recruiting millennials.
Their need for freedom
There is an increasing shift towards remote work across the globe. In fact, it’s growing so popular that here at vsource consider this as one of the most important benefits that you can offer a candidate. And with 89% of millennials saying that they prefer to choose when and where they work, we feel totally justified in making that statement.
Of course, this doesn’t mean that you should offer a remote position to every candidate born after 1980. But it does mean that you should learn to be more flexible with regards to a millennial’s desire for a sense of freedom.
Work from home days, flexible starting times, and video conferencing are all things that will appeal to the typical millennial and won’t necessarily affect overall productivity.
But what better way to start than by upping your interview game and offering remote interviews. It’s a wonderful first impression and shows that you as a company value your candidate’s time.
Their passion for technology
Did you know that 53% of millennials would rather give up their sense of smell than their technology? We’re not sure who came up with that particular survey question, but they struck gold with the results. That’s over half of millennial candidates that value technology over the smell of cut grass or a fresh-baked loaf.
It’s an astounding statistic but one that gives us a deep insight into how this generation ticks. Millennials routinely use their own technology at work, and as much as 75% of them believe that this technology helps improve their productivity.
Old school job sites with clunky application forms that you need to download will not work with these candidates. Your recruiting game along with your in-house tech needs to be on point to attract candidates of this generation.
Their appreciation of a good candidate experience
There’s simply no excuse these days for not putting candidate experience at the top of your to-do list. It’s absolutely essential that all of your candidates (not just the millennials) go through a seamless and rewarding hiring process and that is also true for those that don’t get the job.
But with millennials known for being job-hoppers of sorts, they should have plenty of experience in this area. This means that they will undoubtedly compare your hiring process with those they have experienced before. They will also use how you treat them at this stage as a gauge for how much you value your employees and a positive work culture.
Which, incidentally, leads us to our next point …
Their value of company culture
Millennials who like the company they work for are 25% more likely to stay in the job. To be honest, you could probably use this stat about employees from any generation as there is such a focus these days on the importance of hiring for cultural fit.
Nevertheless, is it any real surprise that the generation that created the term work culture would consider it of such import? Millennials want to feel valued by their employer, but most importantly, they want to enjoy being an employee.
As many as 90% of millennials want their workplace to be social and a place of fun. Still on the fence where work culture is concerned?
Their desire for advancement
But it’s not all fun and games and clocking in whenever you like. Millennials are also a keen bunch who, generally speaking, thrive in challenging situations. They want the chance to develop new skills on the job or hone existing ones in the hopes that they will advance to the next rung on the corporate ladder.
In short, millennials want to better themselves, and that’s why they value on-the-spot recognition for a job well done along with constructive feedback from their managers. They are always on the lookout for opportunities to move up and unless you offer a clear-cut path to do so, they will in all likelihood leave for a company that does.
Their willingness to change jobs
There’s no doubt that we are seeing improved job retention throughout a variety of industries but this doesn’t change the fact that millennials will have 15-20 jobs in their lifetime.
Now we did mention earlier that millennials have a reputation for being job hoppers but in reality, they are only slightly more inclined to move jobs than previous generations. Having said that though, there’s a little more to it.
You see, millennials have no fear of being jobless. They are understandably confident that they can find work either as a freelancer or at another company should they find themselves cleaning out their desk.
This lack of fear means that employers no longer hold power over their employees as they once did. The hugely positive knock-on effect of this is that we now have companies that understand that their workforce is their most valuable resource. So yes, you could say that we have millennials to thank for that positive and diverse working environment you walk into each Monday morning.
This lack of fear and willingness to change jobs means that as an employer, you must ensure that all the bases are covered with respect to work culture and opportunities for advancement. Fail to do so, and you’ll be lucky to keep millennial hires past that all-important first year mark.
As we mentioned earlier, it’s no secret that the majority of your future hires will be millennials. And despite the unfair bad rap, this generation can count some of the most innovative and hard-working individuals amongst its number. So instead of seeing a demanding candidate that wants freedom and work outings aplenty, consider them social beings with great time management skills and who want nothing more than to better themselves.
Is your workplace ready for the eventual millennial takeover? Or is your office already predominantly Generation Y? Either way, you know that in the future, you’ll have to target these millennials in your recruitment campaigns. And what better way to do so than with a remote sourcing consultant who just happens to be a millennial. Yes, that’s right we hire millennials here at vsource too. In fact, our offices are full of them. Perhaps it’s why we’re so successful.