In an ever-changing world where technological advancement has become commonplace, organizations all around the world will depend on their ability to hire and attract talent. Companies like Apple, Google, and Microsoft are dominating the lucrative job market. In fact, Amazon is planning to employ roughly 50,000 people to work at their new massive headquarters.
It’s no secret that many organizations, especially those in tech, are competing with these corporate giants for the best talent. How can promising tech startups compete with the tech giants and attract talent? One way is to change how they look at prospective employees.
Think of prospective employees like prospective customers. Treat hiring like sales. Understand your customers’ needs, communicate with them, and realize that getting great talent to work for you doesn’t happen overnight. In the increasingly competitive job recruiting market, hiring decent people isn’t enough.
In order to hire the best, organizations will need to meet their prospective employees halfway and make themselves attractive enough to work for. Millennials are gradually dominating the workforce and they will continue to do so in the next decade. As new generations enter the workforce, revising industry hiring standards becomes a larger priority.
In this post, we’ll dive into exactly what Millennials are all about, and how organizations can position themselves as “Millennial friendly”. Let’s dive in.
What are Millennials?
According to the U.S. Census Bureau, Millennials are people born between 1982 and 2000. This group of people include over ¼ of the domestic population which translates to roughly 73 million people. With projections showing that Millennials will take up 50% of the workforce by 2020 and a current buying power of over $200 billion, they are clearly a force to be reckoned with.
What are some key characteristics of Millennials?
One of the most well-known differentiators Millennials have, in comparison to every other generation, is their aptitude in technology literacy. Likely growing up most of their life around technology, Millennials are connected to the Internet 24/7. Which means they are highly familiar with smartphones and laptops and are more aware of progressive technology companies.
Value Flexibility and Work-Life Balance
Millennials generally identify with a career path that emphasizes the importance of mental health and work life balance. More so than vacation days and paid sick days, Millennials prefer a work environment that uses flex-schedules, paid time off, and values activities that help them “wind down”. Google has this covered, which is why they’re accepted as one of the best places to work for Millennials.
Expect a Diverse Workplace
With a large percentage of the Millennials consisting of minorities, diversity in the workplace is incredibly important. Representation among various types of people is important to Millennials. This includes people of different genders, sexual orientations, racial backgrounds, interests, and socioeconomic backgrounds.
Contrary to popular belief, growing up in a world where there is immediate praise for their achievements isn’t necessarily a negative characteristic. Instead, this goal-centric mindset allows them to be more competitive in order to prove themselves and get validation of their abilities. For this same reason, Millennials tend to thrive in high-growth potential positions.
Have a Tendency To Challenge Standards
Rather than embracing the “this is how things have always been done will always be,” Millennials are especially inclined to challenge the status quo, and try new things. For this reason, Millennials are often interpreted as having a problem with authority when in reality, they’re just accepting and inclined to change. As a result this also is part of the reason why Millennials tend to job-hop every couple years.
Purpose is Everything
This is arguably the most important thing an organization must recognize if they intend to bring Millennials to their workplace. This is because they care about sustainability, social causes, and want their work to mean something. It is important that they don’t feel like just another cog in the machine.
Building a workplace that aligns towards a very clear and important mission is extremely important in attracting Millennials. Explain why the work they will be doing is changing the world and making it better. Large technology companies tend to pay their employees well, therefore a high salary won’t be enough to recruit the best talent. Because at the end of the day, it comes down to why your company exists, and what it does to contribute to society.
In conclusion how can organizations make themselves attractive to Millennials (and in general)? Build a company that’s diverse, does something meaningful, gives a sense of overall flexibility, and embraces a culture of support and high-growth potential for employees. Therefore, do everything above and you’ll turn your business into a magnet for hiring talented Millennials.