Millennials, love them or hate them, are very likely the largest group in your current workforce. Or rather, they represent the greatest number of talents that are available out there. Which is why the business world today is somewhat obsessed with millennials – including Asia Pacific, as 45% of the population comprises of millennials and an estimated 60% of the world’s millennials are expected to live in Asia by 2020.
Recruitment tactics used for the generations born before the millennials are no longer as effective, because this new generation are motivated differently. Much research has been conducted to further understand this generation and how to hire them.
Without further ado, here are some of the best dos and don’ts when hiring millennials:
1. Offer a competitive package
Much like every other generation, the pay matters a lot to the millennials. A survey conducted by Business Insider revealed 69% of millennials said that money matters most in a job. This is not surprising given the recent tough economy and rise in standard of living for most millennials. In addition, millennials also have a deep attraction towards company benefits such as medical coverage, insurance and retirement benefits.
2. Define the purpose of the role
Ideally, every company has a purpose and so should every position in the respective company. Surprisingly however, a new survey revealed that employers are not putting enough effort to make their purpose clear to their employees, let alone the purpose of the vacant position. Millennials are very purpose-driven, and naturally only a purpose-driven company with a purpose-driven role would attract them.
3. Flexibility is key
One of the major attraction for a millennial is flexibility as they seemed to be very allergic to the typical 9-to-5 work schedule. According to a study by Bentley University, 77% of millennials say that they would be more productive at the workplace if given flexible work hours. They believe that work can be done at anytime and anywhere, given the digital world that we live in today.
1. Be fooled that millennials are only wooed by fancy perks
Company perks such as free food and transportation, movie rooms, nap rooms or even game rooms may sound fancy but these may only be temporary treats for the millennials and may not be enough to continue motivating them in the long run. According to a survey conducted by Business Insider, pay is still the primary reason for companies to attract and retain their millennials and is also the deciding factor when changing jobs.
2. Disregard your web presence
If you are looking to attract new millennial employees, your online brand matters a lot. Don’t just focus on marketing your products or the services offered by your company, consider adding a section in your website or promoting through your social media platforms on what it is like to work for your company. Include photos or even videos on what fun activities your company have recently organised for your employees to showcase your corporate culture.
3. Be afraid of hiring inexperienced millennials
Millennials are the first generation to grow up with the Internet and have easy access to information right at their fingertips. With that, they developed a thirst to learn and grow faster than any generation before them and can be highly ambitious. Although some of them may be young and inexperienced, most of them grew up concentrating on getting good grades, participated in extracurricular activities or extra classes, moulding them into excellent multitalented and hardworking individuals.
It may take some time to fully understand the needs and wants of the millennials but ultimately, you need to acknowledge the importance of attracting this group of employees as they are after all, the next generation to steer forward your company in many years to come.