4 Foolproof Ways to Attract Millennials to Your Company

By the year 2025, Brookings Data Now estimates that millennials will make up roughly 75% of the U.S. labor force.

There’s a clear changing of the guard!

If your company’s workforce isn’t already predominantly millennial, it’s only a matter of time before it is . . . And if you’re an executive who is hesitant to embrace millennials, you’re currently at a major disadvantage when it comes to acquiring the best available talent.

So, how do you go about attracting millennials to your company? Let us help! We love millennials and we know what they’re looking for in potential employers. Make your company a destination spot for them!

A Strong Culture

“Culture is simply a shared way of doing something with a passion.” – Brian Chesky (CEO Airbnb)

Millennials know what they want. Likewise, it’s important for your company to know what it wants and what it is.

This begins with setting core values and goals and making sure they’re echoed throughout your organization. If your company supports a particular cause, see that it’s emphasized and that there are opportunities for employees to get involved.

A Fun Environment

“Being a great place to work is the difference between being a good company and a great company.” – Brian Kristofek (CEO Upshot)

Millennials want work to be fun! So, why can’t it be? In a survey completed by Ring Central in 2014, 78% of millennials stated that a company’s work environment affects their decisions to stay at a job. This comes back to culture. What kind of workplace have you built for your employees? Is it an environment where people are silently working away in their cramped cubicles until 5pm finally rolls around? Or is it a place where people can interact with others, collaborate, and feel like they’re working towards something exciting?

When the work is fun, you’ll find that your employees perform better, boost company morale, and enhance your already-strong culture. You’ll also see your retention rate improve drastically.

A Sense of Transparency

“Power is gained by sharing knowledge, not hoarding it.” -Unknown

In a 2014 study from IBM, millennials cited the top three attributes of a perfect boss as “ethical and fair,” “transparent and readily shares information,” and “dependable and consistent.” The millennial generation values honesty. No fronts, no facades.

Be a company that fosters transparency at every level of the organization – a company that allows its employees’ voices to be heard. Create bridges of communication between the different tiers of the corporate hierarchy. Better yet, make your employees feel like they can approach anyone to ask for advice or present an idea.

Not only does this create harmony, but it also benefits both employee and employer. The employee will feel invested in the company and its endeavors, while the employer will reap the benefit of new innovative methods and ideas.

A Work-Life Balance

“Most people chase success at work, thinking that will make them happy. The truth is that happiness at work will make you successful.” -Alexander Kjerulf (Chief Happiness Officer of Woohoo inc)

People from every generation have expressed the desire for a good work-life balance.

The only difference is that, for previous generations, it was a perk. For millennials, it’s a necessity.

An employer might assume that greater flexibility would lead to a drop off in production but that isn’t the case. According to a survey commissioned by Bentley University, 89% of millennials regularly check their work emails after work hours. 

Millennials don’t want to stop working altogether – they just want flexibility, and their reasons are legitimate. Some want the option of working during the evening when they feel as though they’re at their best.

If you follow our advice and begin to tailor your organization to create an ideal work environment, there’s no reason you can’t add some of the best available millennial talents.

7 Innovative Benefits That Will Help You Snag Top Talent

With the millennial mindset entering today’s market full throttle, skilled employees view new jobs as opportunities for growth, and won’t hesitate to take their talent elsewhere. In fact, a recent Talent Management study issued that a third of new hires leave their job by month six!

But don’t fret – there’s something you can do! Check out these retention strategies that can drastically reduce staff turnover, while channeling employee engagement, innovation, and creativity.

1. Create an Inclusive and Innovative Company Culture

Your company culture should be an experience in and of itself. Today, an exceptional culture is just as vital to employee satisfaction and retention as a high paying salary.

How do you build a strong company culture? Strive to create an environment in which “office drama” is minimized, and collaboration and communication are encouraged.

Respect and encourage creativity and innovation. Make sure everyone gets recognition for good ideas and hard work. Encourage people to think outside the box. Even if a particular solution isn’t currently feasible, remain encouraging and upbeat.

2. Revamp Your Hiring Process

Employees and companies have to be the right cultural fit for each other. Start by choosing the right talent! By onboarding an employee that will “mesh” with fellow teammates, you’ll leverage the productivity and group harmony of your business. Your new hires will most likely be happy in their role in a supportive environment, and the risk of staff turnover will gradually decrease.

3. Make Sure Your Benefits Package Is Up To Date

According to the US Incentive Federation, US businesses spend $90 billion a year on non-cash incentives, up 17% from 2013.

Be it traditional healthcare and retirement packages, or non-traditional gym memberships and tuition reimbursement, benefits are a vital consideration to prospective employees and the baseline for retention.

Consider small benefits, such as food discounts, pet insurance, or an errand running service. Offering perks is often quite affordable, and can generate a lot of appreciation among staff. Don’t know where to get started? Get in touch. We make rocking benefits easy.

4. Reward Hard Work and Exceptional Performance

Rewards and incentives can drive productivity. By acknowledging and supporting the employees who go above and beyond, you also encourage their coworkers to contribute. There are many ways to reward employees!

Provide your employees with regular feedback and recognition for their hard work. Of course, monetary incentives are a plus, but raises or promotions aren’t always an option. Don’t let that stop you from acknowledging your employees’ accomplishments! Everyone appreciates a personalized verbal or written kudos from their boss. This also strengthens the bond between you and your employee.

5. Discourage Micromanagement

Micromanagement, especially pertaining to incoming millennial talent, can be toxic to a work environment and employee retention. Often, the micromanager’s mentality – and drive for productivity – is well-intended, but unfortunately can result in annoyed, disengaged employees who feel like their bosses don’t trust them. Many employees may be tempted to look for greener pastures where they will be able to take on more responsibility.

Whether or not a staff leader can perform better than a subordinate, a “just let me do it” or “do it this way” mentality can hinder employee growth, innovation and morale. When training your management staff, focus on leadership and mentoring skills, and hire managers who want the best for their team, not to be the best player.

6. The Right Type of Management Is Still Needed

Eliminating micromanagement doesn’t mean eliminating management entirely. Managers must provide feedback, guidance, and organize their team, but with an approach that empowers employees rather than stifles them.

Quarterly one-on-ones are an excellent way to communicate and collaborate while still giving employees room to perform individually.

The role of a manager is not to be the smartest, or most capable person in the room; their job is to build high performing teams. Doing so will increase engagement, encourage innovation, and help establish a work dynamic employees want to stay in.

7. Do Exit Interviews

Turnover is inevitable; even in the highest-paying, most sought after companies, employees are going to leave. Consider it a learning experience: understanding why your employees are leaving can prevent others from walking out the door.

If an employee gives notices, plan an exit interview before they leave. Having a neutral party, such as an HR employee, conduct the interview, is often the most reciprocated dynamic.

Turnover is Inevitable, But You Can Improve Retention Rates

Understanding what keeps employees engaged, motivated, and satisfied is vital to attracting prospective hires, and retaining top-talent. While employees will inevitably change careers, needs, or locations, you can improve your retention rates through conscious effort. Many organizations are currently refocusing their retention strategies, and have implemented small-scale benefits such as Errand Solutions to create the “work-life balance” many young employees value. Building a value-based, team-driven, company culture, and rewarding your employees with benefits, bonuses and simple appraisals, is an excellent place to start.