If you're a growing business looking to attract talent, it pays to focus your efforts on millennials, who have pretty much come to dominate the workforce. In fact, more than one-third of U.S. employees today can be classified as part of the millennial generation. But if you think it's money millennials are after, think again. Younger workers actually have a different set of goals and expectations when it comes to work, and the sooner you take steps to cater to what they want, the greater your chances of filling vacancies and getting the help you need.
So what do millennials want from their jobs? According to strategy firm Department26, here are some of their top priorities.
If there's one thing to give millennials credit for, it's their desire to follow their passion rather than chase a paycheck. Perhaps more so than any other generation, millennials care more about finding fulfilling work than making money, which perhaps explains why so many earn below-average wages.
If there's one generation that craves flexibility on the job, it's millennials, so if you're currently set on having employees adhere to a strict schedule, you may want to rethink your policy. There are plenty of good reasons to offer flexible work arrangements, and they run the gamut from motivating employees to do better to actually increasing worker productivity. Specifically, millennials are more apt to accept job offers that come with perks such as telecommuting, unlimited vacation days, or compressed workweeks. But they're likely to show their appreciation in the form of a solid hustle when they are on the job.
Millennials clearly don't like to be lied to in any regard. Rather, they value openness and communication. Foster that sort of environment, and you're more likely to attract younger workers.
Another thing millennials appreciate on the job is consistent feedback, and in this regard, they're not alone. In fact, many companies are doing away with traditional annual performance reviews and are instead moving to informalize the process. At the same time, however, they're looking to make it more consistent, so rather than wait an entire year to receive productive feedback, employees will instead get regular advice and constructive criticism from their managers week after week, or month after month. This way, they get a chance to act on that feedback rather than continue making the same mistakes repeatedly. The result? A more positive work experience, and perhaps improved manager-employee relationships to boot.
Millennials, generally speaking, aren't happy with just any old job. Rather, they're seeking companies that are looking to do something different or unique. In other words, the more revolutionary your product or service, the greater your chances of finding younger workers who are willing to join your team.
Whether you're a hiring manager or recruiter, it pays to read up on what millennials want out of work and better understand this oft-misjudged generation. Contrary to what you may have been led to believe, millennials aren't lazy, entitled snoots looking for handouts. Rather, they're willing and eager to work hard and pay their dues, and if you find the right ones for your team, you stand to come away a winner.