By: Jul-7, 2022| Updated:
If you are a business and you wish to attract the attention of talented millennials, pay heed to the 2021 Fortune Best Workplaces for Millennials report, which has found that this generation of workers is seeking four things: equity, transparency, flexibility, and purpose. Millennials are interested in investing their time and effort in companies in which pay and purpose align. If they feel their job has no meaning or they are being paid unfairly, take note: they are almost four times more likely to leave an existing job than previous generations. So how can you ensure that their required “musts” are being met, while enticing them with something extra?
A Need for Equality
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Millennials are interested in working in companies in which gender equity, diversity, and inclusivity are given due value. The fact is that the gender pay gap is still very much a reality. National median earnings in the US amount to $53,544 for men compared to $43,394 for women. Diversity is another area that needs improvement in most American companies. Research by Bloomberg shows, for instance, that only four out of 37 of the nation’s biggest corporations have black people in 10% or more top-level management roles. To ensure your company is in high demand among new recruits, adopt an inclusive policy and hire staff from a variety of cultures and backgrounds. Share your diversity and inclusivity policies publicly, and create fair compensation and promotion procedures.
In order to prioritize transparency in your company, share information about your business with your employees. Have an internal newsletter, host regular meetings where employees are free to ask questions about the direction your business is heading in, and show that you value transparency when dealing with collaborators and clients as well. Use software like Slack or Asana, creating various channels so that staff can request information that is pertinent to their department or area of specialty.
In the era of the new normal, millennials who have gotten used to working from home are less likely to be attracted by five-day working weeks and nine-to-five schedules. Think about using a goal-based approach, prioritizing completed projects instead of hours behind a desk. Show your staff you are interested in helping them achieve a better work-life balance as well. If they do have to be in the office for long hours, consider offering them in-company yoga or mindfulness classes and think about allowing them to bring their pets to work. Embrace the power of indoor plants, which are known to boost productivity. Ensure your employees feel safe by keeping things hygienic in spaces like kitchens and bathrooms. For instance, instead of keeping reusable hand towels in the bathroom, make the switch to smart tech like touch-free hand dryers and faucets. The very latest hand dryer machines contain HEPA filters, which can keep the area germ-free and therefore promote better health. Safe workplaces are likely to attract employees back to offices after over a year of working from home.
Connecting Employees with their Purpose
In order to enable your employees to feel like their job has a purpose, start with defining your company’s core values clearly, so your employees know if it aligns with theirs. Once they start, let them have a say in how these values are expressed and avoid micromanaging them. Instead, leverage their strengths and let them feel like their ideas are listened to and their suggestions put into motion when they are practical and useful from cost and time perspectives. Offer them continued learning opportunities, so they do not feel stagnant. Make them feel empowered by meeting them frequently, asking for feedback, and being a leader that lives the company’s values in actions as well as words.
Millennials are a unique generation of employees who are more willing to switch companies if they feel their job has no purpose. To attract talented individuals from this generation, be transparent and demonstrate that you are as interested as they are in diversity, equality, and inclusivity. Offer your employees flexibility, so long as goals are being achieved or surpassed. Let them know their work matters and have an open heart and mind when they voice concerns or make suggestions to improve goals and procedures.
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