The millennial generation is flourishing in the job market. They are revolutionizing workplaces â€“ bringing rapid changes to the very process that businesses have been known to rely on. A report states that 64% of this generation will occupy the nationâ€™s workforce by 2020. But, who are these millennials?
Millennials, also called generation Y, are kids in their 20s emerging in the employment market. These young individuals are digitally savvy and highly ambitious. They expect rapid growth, rewards, and a good level of flexibility at workplaces. In this rapidly progressing business world, this generation brings a breath of fresh ways to organizations. As recruitment consultants in India, we see that picking and retaining these millennials has presented a number of challenges in front of businesses including –
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1. Values and Ambition Matter Most To Them
Unlike the previous generations who valued a stable pay, millennials look at their careers from a different perspective. If you still think that offering a good pay will attract them, then think twice. This generation prioritizes their ambition and the sense of satisfaction by making a substantial contribution to the society. A fat pay package no longer works for them. They look for innovation and advancement opportunities where they can feed their values of being helpful toward the society.
2. They Seek Growth Opportunities
Gone are the days when you had to wait years and endure weeks of paperwork before you got a promotion. Workplaces, where employee progress is still given a low priority, might need to re-work their ways. The millennials seek fast progress in their careers. They look for growth opportunities in the form of training and development, self-education, and challenges that take them closer toward their goals. This generation is aggressively ambitious and expects employers to understand the same. Maybe you want to offer them substantial advancement opportunities while recruiting them.
3. They need a Substantial Amount of Flexibility
If you still expect people to work for hours at end in dusty offices, then you may not go far with millennials. A lot of workplaces expect employees to work endlessly, leaving them with an imbalance in their work and personal lives. This generation values their social life. They would work on clear instructions and respect deadlines but in different ways. Whether it is at a coffee shop or a library, they would love to have the flexibility of telecommuting. Deploy technology and methods like work from home, telecommuting, video conferencing, and more to allow people the freedom to work comfortably.
4. They Seek Continuous Feedback
Feedback allows a person to understand their status and help them improve to work toward their goals. A good manager is one who knows the importance of feedback as well as constructive criticism. Negatively criticizing and offering no tips to grow will definitely turn off millennials. Since they are ambition and growth oriented, they seek continuous feedback. Regular feedback is the key to recruiting and retaining millennials.
The key to overcoming challenges in recruiting and retaining millennials is by knowing them. Their qualities as mentioned above will help you reform your recruiting and retention methods. If you still find it difficult go on and read these tips on recruiting millennials or connect with recruitment consultants in India like us.