World’s leading companies (Google, Facebook, Microsoft) have the strongest manpower-Gen Y. These young minds are a great combination of creativity and determination. They can help the company to grow by leaps and bounds as they are far efficient and capable than older traditional workers who have a rigid mindset and are inflexible.
Millennials are the generation born between 1982 and sometime in the early 2000’s. They are called as the Generation Y, Generation Me and Echo Boomers. The question that arises is “How to attract millennial in our company?” Since more and more companies are trying their best to attract these young minds, we need to make sure that we stand out as a company and effectively brand ourselves.
The new generation people are different. They work for a purpose. They are aware and far more connected to the world. They want growth and unlimited scope. Once a company understands these characteristics of the narcissist generation, it would become easy for them to hire such bright minds. You have to know what motivates them in their careers. You have to tap into their mindsets to understand their wants and needs.
Let us see some effective ways that can help to attract and hire millennial:
1. Share your employer brand
Keep in mind a very important fact and that is these Gen Y people highly care about the employer brand. They care about what makes the company they would be working in different from its competitors. It is important to share your employer brand because it attracts these young minds. Today, the youth are not hesitant to work in a small company as long as the company has its own USP. So, sharing of employer brand is a must and if you do not have one, create one.
2. Your focus should be on people and purpose
The Annual Talent Shortage Survey, conducted by Manpower Group, mentions that 67% of the Indian employers face difficulty in today’s time in discovering talent, in contrast to a global average of 34%. With the rising rate of globalization and opportunities popping up in different parts of the world, a staggering number of Indians migrate abroad for work. Assuming these numbers consist of a good figure of employable talents, the shortage keeps accumulating annually. It is possible that in the future - talent could become one of the rarest resources in the planet.
3. Don’t be stringent in following the 9-5 schedule
This generation values its time. They find it difficult to compromise on work-life balance. One of the reasons for the increase in attrition rate is the inability to balance personal and professional life due to time bounds and immense work load. A simple fact is, if you want to retain the brightest minds in your company you have to be less stringent when it comes to 9-5 schedule.
4. Focus on career development
The main focus of millennial is career development. If there are opportunities of growth in your company, Millennial will find their way. It is a fact, today, Gen Y give their career more importance than their personal life. They are willing to sacrifice for career enhancement and so, if your company realizes this, you will not have to search for them. Millennial will search for your company.
5. Perks attract and retain these bright minds
To entice young employees, you need to offer perks to them, be it small and thoughtful ones or some pretty luxurious. Millennial is driven by what the company has to offer and perks play an important role. For example – Silicon Valley offers various perks like nap rooms, free food, pet-friendly policies, etc. and this raises the bar for many companies. Some perks that a company can offer to these young minds can be- travel perks, flexible work hours, free food, team building courses, game rooms, gym or spa membership, freebies etc.
• Young Indians will form 64% of the workforce by 2021 in India
India will become the youngest nation by 2021. It is a known fact that youth are a key to innovation.
• The millennials are the largest generation on our planet.
As the baby boomers taught us, the larger the generation, the greater the influence over norms, expectations and behavior.
• By 2025, 3 out of every 4 workers globally will be Millennials.
Offering a bigger paycheck may not be the best way to hire Millennials. According to a survey, these young minds when asked to choose the most important factor in accepting a job offer chose career growth over salary. Companies have understood a fact that Millennials are clearly drawn, first and foremost, to employers that offer continued growth and learning opportunities. Once a company understands their mindset, it becomes easy to attract and retain them.
“Millennials aspire to marry the blue skies thinking of the Boomers with the grass-roots mindsets of Gen-X.”
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