March 19, 2015
According to a recent study conducted by Aon Hewitt, the global talent, retirement, and health solutions arm of Aon plc, approximately 43 percent of Millennials plan to actively look for a new job in 2015. That’s a pretty hefty slice of the Millennial population (a population considered to be those currently between the ages of 18 years and 34 years), though one that’s hardly surprising when one begins to understand the wants and needs of that group. But if you’re a company – especially a startup, whose very survival could depend on keeping the right talent – what can you do to not only recruit, but to retain Millennials?
TINYpulse, the Seattle, WA-based company that offers companies and organizations with employee engagement software, recently released The Ultimate Guide to Recruiting & Retaining Millennials, a 69-page guide providing companies with precisely these tips on how they can recruit and retain Millennials.
This year, Millennials are predicted to surpass Baby Boomers as a percentage of the overall American population. According to Pew, Millennials are projected to number 75.3 million in 2015 – a number that falls beyond the projected 74.9 million Boomers. By 2020, Millennials are expected to make up half of the overall working population in the United States. Because of such considerations, it’s important for companies to recognize what it takes to recruit these Millennials and ensure that they retain them for a relatively long period of time.
The Ultimate Guide to Recruiting & Retaining Millennials offers a comprehensive look at what it takes to get Millennials to work for your company. Ranging from desires in the physical environment and overall company culture to whether you can engage them in the right ways, Millennials have certain requirements when looking to work at a new company. The guide by TINYpulse offers insights on what companies can and should be doing to recruit and retain Millennials.
The guide is made up of 16 different chapters, all focused on helping companies turn their workplace into ones in which Millennials are likely to thrive. Offering tips on how to make your company desirable for Millennials to how to create the right onboarding plan for new Millennial hires, the guide brings together intensive research on the thoughts and behavior of Millennials and practical methods through which companies can align their workplace with that insight.
Some quick highlights from the free guide include:
On Recruiting Millennials:
“Millennials are the social media generation. As LinkedIn and the Altimeter Group reported out, companies with a social media presence are 58% more likely to attract top talent, and their employees are 20% more likely to stay. Make sure you’re using each tool in the best way to maximize its benefit.”
An Idea for Informal Meeting Spaces:
“Meeting tables: Scatter tables around the office where employees can quickly come together. Put up a whiteboard on the wall, and you’ve got a faux meeting room. Having these tables promotes and encourages spontaneous ideation.”
On Providing Training Opportunities:
“This is a generation that’s always looking to learn. In fact, the Kenan-Flagler Business School at UNC found that tuition reimbursement was a powerful attraction and retention tool for millennials. So take this to heart and find ways to help educate and strengthen millennials’ skills: classes for exams; technical courses; general education classes; seminars; conferences; and networking meetups.”
On Creating Feedback Mechanisms in the Workplace:
“Millennials, unlike older generations, think feedback plays a critical role in success. A poll by MTV revealed that 80% of millennials want regular feedback from managers. And 76% believe their boss could learn a lot from them. So how do you embrace two-way feedback? Try the following: one-on-one meetings…surveys…suggestion boxes.”
These are just a few samples from The Ultimate Guide to Recruiting & Retaining Millennials (the guide itself actually goes into detail about certain aspects, such as each of those suggestions for providing two-way feedback). Download The Ultimate Guide to Recruiting & Retaining Millennials for free.
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