Compensation is one of the least important factors for recruiting Millennial employees, but ping pong tables and free snacks aren’t the differentiators they’re looking for either. A study done by Futurestep found the top considerations for attracting and retaining Millennial talent.
It turns out, what matters most to Millennial employees is “the ability to make an impact on the business,” followed by “a clear path for advancement,” and then “development and ongoing feedback.” Surprisingly, income came in fourth on the list.
The study also revealed that Millennials believe the best tactic for recruitment is social media, followed by word of mouth/networking, and then online talent communities.
After I finished reading about these results, I found two major takeaways for employers. First, make sure your company is able to clearly demonstrate its culture and values to potential candidates. This should be apparent on your website, in your job descriptions, and throughout the interview process. Companies also need to emphasize the opportunity for career development and show they’re invested in helping the candidate achieve their goals. Then over time, there should be open discussions about responsibilities, income, and long range goals and objectives.
Next, social media and technology are a way of life for Millennials so companies need to have an online presence to attract this audience. Make sure your website is mobile responsive and that you’re utilizing social media to represent your brand and post open jobs. Showing that your company is able to keep up with new technology and invested in your brand will help you stand out from other potential employers.
As more and more Millennials move into the workforce, it’s going to be essential to know how to communicate to this generation and attract them to your company. For more ideas on recruitment strategies or attracting Millennials, contact Naviga Recruiting.
