September 2020 Monthly Update. 10 Things You Need To Know About Engaging Millennial Employees

Excerpt from the above article:

Engaging Millennial Employees & Knowing What They Want

In order to attract millennials to a company, you need to know what they want and what they value in an employer. What millennials want is completely different than previous generations. Salary and healthcare benefits are important, but there are many other factors that are now coming into play, such as paid time off, job flexibility, working at home, company culture, growth opportunities etc. While these conditions are important for attracting talent, they are also important for retaining talent. Millennials are known for job hopping. They stay at a company a couple of years for experience and then they long for a new exciting opportunity. A study from Gallup revealed that 21% of millennials report changing jobs within the last year, which is more than three times the number of non-millennials. When you hire a candidate, you hope they will work out for a long period of time. This is why knowing their wants and needs is extremely important.

Job Flexibility and Working at Home

As hard as it is to believe, many millennials don’t believe in a standard 9-5 job. They think they are more productive working outside of the regular work hours and mixing in breaks along the way. If they get the work done and meet the deadlines, why do they have to work between 9-5? Millennials want flexible hours and a work-life balance. According to a Gallup study, flexibility is one of the highest ranked benefits, ranking higher than student loan or tuition reimbursement. A Gallup study also found that 50% of millennials reported they would change jobs if they were able to work remotely some of the time.

Work flexibility and opportunities to work at home might not be standard at many companies, but statistics suggest these are perks the new work force is looking for. In order to be able to attract that Millennial Wolf candidate all employers will have to consider offering some of these benefits.

Company Culture and Professional Growth

Company culture is also important for the Millennial Wolf. They want to work in a culture they can trust. In fact, millennials are 22 more times likely to work at a company for a long time if they trust the culture, according to research done by Great Place to Work. They also want to be engaged with the company. A Gallup study showed that engaging millennial employees happens when managers hold regular meetings and provide feedback. Feedback allows millennials to know what they need to improve upon and what they can do to professionally grow within your company. Millennials are motivated and want to advance their career quickly. Additionally, millennials value training and education. Offering them classes, workshops, seminars, and certifications will help attract and retain them longer.

Overall, when it comes to culture, it will be important for employers to highlight a culture that is engaging millennial employees, this includes benefits not related to work. Do you celebrate birthdays? Do you have summer outings? Do you offer free snacks and drinks to your employees in the office? These are all aspects that define a company culture and can help set an employer apart. By focusing on benefits that millennials value, employers will be able to attract and retain more millennial candidates.